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Africa: Mediterrania Capital Closes $686m Fund to Back African Mid-Cap Firms

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Africa: Mediterrania Capital Closes 6m Fund to Back African Mid-Cap Firms


TLDR

  • Mediterrania Capital Partners (MCP) has announced the final close of its fourth investment vehicle, raising €600 million ($686 million)
  • The Malta-based private equity firm will use the capital to support mid-cap and SME businesses across North and West Africa
  • The fund targets sectors with strong growth potential, including healthcare, financial services, FMCG, logistics, education, and transport

Mediterrania Capital Partners (MCP) has announced the final close of its fourth investment vehicle, Mediterrania Capital IV Mid Cap (MC IV), raising €600 million ($686 million)–well above its initial target of €350 million and a hard cap of €400 million. The Malta-based private equity firm will use the capital to support mid-cap and SME businesses across North and West Africa, with selective pan-African investments.

The fund targets sectors with strong growth potential, including healthcare, financial services, FMCG, logistics, education, and transport. About 25% of the fund is allocated to West Africa, with the remainder split between Morocco, Egypt, Algeria, and Sub-Saharan Africa.

Key Highlights: Strategy, Pipeline, and Backers

  • Ticket Size: Investments will range between $32 million and $109 million, acquiring substantial minority or majority stakes, including pre-IPO positions.
  • Geographic Breakdown: Planned investments include five in Morocco, 2-3 in Egypt, one in Algeria, and the rest in Sub-Saharan Africa.
  • Sectors: Healthcare and pharma, logistics, consumer goods, and finance are the primary focus areas.
  • Portfolio Activity: MCP has already deployed $215 million, including investments in Laprophan (pharma) and Cash Plus (money transfer), both in Morocco.