Adenia Partners has closed its inaugural Adenia Entrepreneurial Fund I (AEF) at the $180 million hard cap, surpassing its original $150 million target less than a year after launch.
This brings the firm’s total capital raised across its funds to more than $1 billion.
The fund targets control investments in small and lower mid-cap companies, focusing on founder- and family-led businesses across Africa.
It will support scaling operations, strengthening governance, and driving long-term value creation, while generating measurable impact in job creation, industrial infrastructure, gender inclusion, and carbon reduction.
Reaching our hard cap at first close and in under a year reflects strong conviction in both our strategy and in Africa’s entrepreneurial ecosystem. AEF offers a diversified, pan-African approach while staying true to our core principles: sector-agnostic investing, control positions and responsible value creation
Alexis Caude, Managing Partner at Adenia Partners
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The fund’s first investment is in Maymana, a leading Moroccan food brand founded in 1985 by Naima Berrada Benchakroun.
The company produces traditional pastries, bakery items, fine grocery products, and catering services, with a growing international presence.
Under Adenia’s ownership, Maymana will focus on institutionalising processes and expanding its market reach.
We see a strong and expanding pipeline of founder-led businesses across Africa that are ready for institutional growth capital. Maymana is a prime example as a high-quality, family-built business with significant expansion potential
Stéphane Bacquaert, Managing Partner at Adenia Partners
Webber Wentzel served as lead legal counsel, with Bowmans acting as local counsel in Mauritius.
The first close was supported by a diverse group of institutional investors, including development finance institutions, European family offices, multi-regional fund-of-funds, and African asset allocators.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, climate change, and digital finance at Africa Digest News.
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