The International Finance Corporation (IFC), a member of the World Bank Group, is evaluating a potential investment of up to $50 million in Adenia Entrepreneurial Fund I. The pan-African private equity fund, managed by Adenia Partners, aims to bolster small and medium-sized enterprises (SMEs) throughout the continent.

Of the total proposed investment, $30 million is earmarked for the fund itself, with an additional $20 million allocated as a co-investment facility. This financing is designed to address what the IFC identifies as a critical gap in funding for SMEs, a sector vital to African economies but often underserved.

Adenia Entrepreneurial Fund I intends to strategically invest in several sectors, including light manufacturing, consumer goods and services, renewable energy, healthcare, and education. The objective is to enhance the competitiveness of companies within these sectors and foster more resilient and sustainable economic growth across Africa.

The fund plans to acquire majority stakes in its portfolio companies. This approach will allow Adenia Partners to implement operational improvements, strengthen corporate governance, and support the development and execution of long-term growth strategies for these businesses. Adenia Partners will also provide investee companies with guidance on growth planning, value creation, and access to sector-specific expertise and technical assistance.

The fund is targeting total commitments between $150 million and $180 million, with plans to invest in approximately 10 African companies. Individual investments are expected to range from $10 million to $20 million, primarily focusing on growth-stage businesses. Furthermore, the initiative aims to generate positive social impact through job creation, with a particular emphasis on opportunities for young people and women.

The proposal is scheduled to be presented to the IFC's board of directors for approval on February 11, 2026. The outcome of this review will determine the final allocation of funds to Adenia Entrepreneurial Fund I and its subsequent deployment in supporting SMEs across Africa.