GJO & Partners
← All funds

Bpifrance (Fonds Averroès / Afrique)

Public data, unclaimed profile

French public investment bank, with programmes dedicated to Africa and a fund-of-funds activity.

At a glance

Based on observed investment behaviour: 4 recorded deals

Investor type
Private equity or venture capital fund (inferred, not verified)
Capital type
Venture capital (inferred from deals)
Observed ticket
2 M$ – 8.5 M$, median 3.5 M$ (3 disclosed amounts)
Stated ticket : 1 M$ – 30 M$
Countries
Côte d'Ivoire (2), Tunisia (1)
Activities
Fintech infrastructure (APIs, open banking, BaaS) (1), Pharmacy and drug distribution (1), Recruitment and staffing (1)
Instruments
Equity (3)
Stages
Growth (1), Seed (1), Series A (1)
Recent activity
0 deal in 12 months, latest Jun 2025

Stated thesis versus observed behaviour

  • Sectors: 75% of its deals within its stated thesis
  • Countries: 100% of its deals within its stated thesis
  • Ticket: 100% of its deals within its stated thesis

Does this fund fit your project?

Describe your need: the target list shows, for each source of capital, why it fits and which deals prove it.

Find my matches

Investment thesis

Criteria published by the fund, recorded and checked by Invest Matching.

Investment ticket
1 M$ – 30 M$
Instruments
Equity, Fund of funds, Debt
Preferred sectors
Manufacturing, Business & personal services, Agribusiness, Healthcare, Fintech, Media & entertainment*, Tourism & hospitality*, Water & environment*
Target geographies
North Africa, West Africa, Morocco, Tunisia, Côte d'Ivoire, Senegal

* added from its deals

Stages (stated by the fund and from its deals)
SeedSeries AGrowth

Reference deals

Recent public deals: they say better than a thesis what the fund actually signs.

Kumulus Water

June 2025 · Tunisia
Seed3.5 M$EquityWater & environmentLead

Activity : Water and sanitation

Designs and builds atmospheric water generators that produce drinking water from air humidity, without water or power infrastructure.

Co-investors Plus VC

Source : wamda.com

JOBO Interim

December 2024 · Côte d'Ivoire
2 M$Business & personal servicesCo-Invest

Co-investor alongside Evolem

Activity : Recruitment and staffing

Image: Job Interim JOBO Interim, a digital staffing platform based in Ivory Coast, has announced a successful $2 million funding

Co-investors 50 Partners, Plug and Play Ventures

Source : launchbaseafrica.com

HUB2

December 2024 · Côte d'Ivoire
Series A8.5 M$EquityFintechCo-Invest

Co-investor alongside TLcom Capital

Activity : Fintech infrastructure (APIs, open banking, BaaS)

Vehicle : TIDE Africa Fund II

HUB2 provides a unified API enabling neobanks, remittance and payment companies to process mobile money, bank transfers, card and crypto transactions across six Francophone countries.

Why they invested

  • Leader in payment interoperability across Francophone Africa
  • Strong TPV growth (€70M in 2022 towards ~€1B targeted in 2024)
  • Market underserved by Anglophone-focused players

Co-investors Africa Fintech Collective, Axian CVC, Digital Currency Group, ENL Group, Enza Capital, FMO

Source : weetracker.com

PIEX

September 2017
GrowthUndisclosed amountEquityHealthcareCo-Invest

Co-investor alongside Trocadero Capital Partners

Activity : Pharmacy and drug distribution

Instrument : prise de participation majoritaire

PIEX distributes pharmaceutical and parapharmaceutical products in French-speaking Sub-Saharan Africa.

Why they invested

  • Develop a specialist distributor in Francophone Sub-Saharan Africa
  • Support a growth transaction with LBO France and AfricInvest
  • Strengthen the pharmaceutical distribution platform

Co-investors AfricInvest, BNP Paribas Développement, LBO France

Source : africaglobalfunds.com

Partech Africa

2017 · Senegal
Undisclosed amountFund of fundsCo-Invest

Fund-of-funds commitment: subscription in Partech Africa

Activity : Fonds d'investissement

Instrument : Souscription au fonds Partech Africa lors de son lancement (IFC en chef de file des institutions) · Vehicle : Averroès Finance III

Partech Africa is a venture capital fund dedicated to African technology companies with pan-African ambitions.

Why they invested

  • Support for technology startups in sub-Saharan Africa
  • Exposure to African digital champions
  • Development of Africa's venture capital ecosystem

Co-investors Banque européenne d'investissement, IFC (International Finance Corporation)

Source : partechpartners.com

In short

Bpifrance (Fonds Averroès / Afrique) invests tickets ranging from 1 M$ to 30 M$, across the following sectors: Manufacturing, Business & personal services, Agribusiness, Healthcare, Fintech, Media & entertainment, Tourism & hospitality, and Water & environment, in the following areas: North Africa, West Africa, Morocco, Tunisia, Côte d'Ivoire, and Senegal. Check in 30 seconds whether your company fits these criteria.