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    Signature(s)

    Amount
    € 4,054,054.05
    Countries
    Sector(s)
    Angola : € 4,054,054.05
    Services : € 4,054,054.05
    Signature date(s)
    4/11/2009 : € 4,054,054.05
    Link to source

    Summary sheet

    Release date
    8 May 2009
    Status
    Reference
    Under appraisal | 04/11/2009
    20080375
    Project name
    Promoter - financial intermediary
    FIPA – Angola Private Equity Fund

    Angola Capital Partners (ACP), a joint venture between Banco Africano de Investimento (BAI) and Norfund (Norway). ACP will originate, implement, manage and realise investments on behalf of FIPA. ACP Management will include from the start three investment executives, already identified.

    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EIB’s commitment would be to make an initial investment of up to EUR 5 million. and increase its investment in the fund as FIPA grows towards its capitalization target (see below). EIB will not exceed 20% of the total investments made during the life of the fund at any time.
    The fund (FIPA) has a target capitalisation of USD 100 million., however it is anticipated that a first closing will be done with a core group of investors at a level of USD 22.5 million.
    Location
    Sector(s)
    Description
    Objectives

    FIPA will be a private equity fund promoted by Norfund and BAI, a local, private commercial Angolan bank. FIPA’s objective will be to invest in local enterprises in Angola, thus overcoming the lack of equity/venture capital and similar instruments in the country.

    FIPA will be the first private equity fund in Angola focusing on investments in established and/or start-up local SMEs. Target size of the fund is USD 100 million., investments will take the form of equity, preference shares or loan instruments.

    Environmental aspects
    Procurement

    Not available.

    Not applicable.

    Link to source

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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