This archive report was first published on 20 April 2020.
Published on April 20, 2020, Alitheia IDF, a joint venture fund between Nigeria's Alitheia Capital and South Africa's IDF Capital, has secured $75 million (approximately KSh8 billion) to invest in female-led businesses across Africa.
The funding will enable the firm to invest in approximately 12 Small and Medium-sized Enterprises (SMEs) with the potential to scale beyond their countries of origin.
Alitheia IDF will also use the funding to boost sectors such as agriculture, agro-processing, and companies providing essential goods and services.
Furthermore, the firm will provide capital of between $2 million and $5 million to high-potential mid-sized companies in six countries: Nigeria, Ghana, South Africa, Lesotho, Zimbabwe, and Zambia.
Ultimately, the company aims to create 5,000 jobs for women and provide close to 100,000 women with access to essential products and services.
Alitheia IDF is a joint venture fund between Nigeria's Alitheia Capital, a private equity investment and advisory firm, and South Africa's IDF Capital.
Notably, the African Development Bank (AfDB) seeded the company with an equity investment of $12.5 million in December 2015, while FinDev Canada made a $7.5 million investment in the company in November 2019.
