DPI’s ADP III secures commitment from Danish DFI

Image Credit: Picha

African Development Partners III, (ADP III), the latest private equity fund being raised by Development Partners International, has added another development finance institution to its roster of LPs. Denmark’s IFU announced last week that it is committing $15 million to the Africa-focused fund, moving it closer to its final goal of $800 million.

ADP III’s strategy is to make sector-agnostic investments in cash flow positive businesses selling products and services used directly or indirectly by the continent’s middle class demographic. Deals are expected to range between $40 million to as much as $120 million in size, and DPI’s team will work closely with the fund’s investee management teams to maximize the value and impact of the fund’s investments.

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