Mubadala Investment Company and BPIfrance have agreed to collaborate on high-growth African startups, SMEs, and mid-caps. Mubadala Investment Company and BPIfrance have agreed to form a new co-investment venture focused on African private equity. The two firms stated they will strive to deploy up to EUR350 million ($416 million) through fund and direct investments in private equity and venture capital, with a focus on high-growth African startups, SMEs, and mid-caps, at the 13th session of the UAE-France Strategic Dialogue.

“We are thrilled to announce we will start working with our long-time partner Mubadala in neighbouring Africa, where Bpifrance has been active over the past 20 years through a pioneering fund of funds program,” Nicolas Dufourcq, CEO of Bpifrance, said. 

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“We are more convinced than ever of the tremendous potential of Africa’s private sector and of the pivotal role that African private equity will play in uncovering and empowering industrial and tech champions throughout the continent. We hope more of our international partners will join us on this exciting African journey.”

Here Is What You Need To Know

• Since the launch of the French Emirati Fund in 2014 and the Innovation Partnership in 2017, Bpifrance and Mubadala have built a strong relationship, with approximately EUR1 billion in joint investments in French companies and a EUR1 billion commitment by Mubadala into Bpifrance’s flagship Lac1 Fund dedicated to listed French multinationals.

• Now, the two partners plan to invest jointly in top-tier African private equity and venture capital funds, with a focus on regional, multi-country, and pan-African funds and experienced fund managers.

• Following the Summit on the Financing of African Economies on May 18, France and the UAE, along with 45 other nations and institutions, pledged to working together to achieve a post-Covid economic recovery in Africa, including through specialized support for entrepreneurs and SMEs.

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“Over the years, we have developed a strong relationship with Bpifrance and have successfully invested or committed approximately EUR1.5 billion in more than 15 investments in France. We are excited to extend this partnership into Africa, a market which we believe has significant untapped potential, and to invest alongside them in high-growth companies,” Waleed Al Mokarrab Al Muhairi, deputy group CEO of Mubadala, said. 

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer