AfricaGrow invests US$17M in two Tunisian funds in its pan-African growth strategy

TUNISIA – AfricaGrow, an investment fund set up by Allianz Global Investors, a subsidiary of the German insurance group Allianz, and the German Development Finance Bank (KfW), has made two commitments of €15 million (US$17.5m) each for the benefit of two funds in Tunisian, SPE AIF I and Cathay AfricInvest Innovation Fund (CAIF). AfricInvest, based in Tunisia, is pursuing a…

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German fund of funds AfricaGrow provides equity capital for SMEs and start-ups

AFRICA – Allianz Global Investors, a global investment management firm, has teamed up with the KfW Development Bank, a German government-owned development bank, to launch a fund of funds designed to provide financial resources for African private equity and venture capital funds. The new venture, which is known as AfricaGrow, is designed to fund 150 small- and medium-sized enterprises and…

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