Adenia Capital (V)

Press Release

February 2, 2023

FinDev Canada commits up to US$ 30M to Adenia Capital (V) Limited to support businesses in Sub-Saharan Africa

Press Release

FinDev Canada is pleased to announce a commitment of up to USD 30 million to Adenia Capital (V) Limited.

Creating formal employment opportunities across Africa: Adenia V will provide growth capital to mid-cap businesses (typically those with 50 to 500 employees) across Africa. In a context where 86% of employment in the continent is informal (without social protection or labor rights, and subject to poor working conditions), Adenia V’s investments will generate formal and quality jobs with competitive salaries, employment benefits, career growth opportunities, and training programs.
Supporting inclusive and sustainable operations: As a signatory of the Operating Principles for Impact Management, Adenia supports portfolio companies to promote workplace diversity and make operations sustainable over time, thereby benefitting the markets and communities in which its portfolio companies operate.

As Adenia’s first 2X Flagship Fund, the Manager aims for 50-75% of the Fund’s portfolio companies to be 2X eligible businesses.

Increasing investees’ resilience to climate change: Committed to responsible and sustainable growth, Adenia will support each portfolio company in reducing its carbon intensity and vulnerability to climate change through the implementation of climate mitigation and adaptation strategies. At the manager level, Adenia is committed to becoming carbon neutral on scopes 1 to 3 by 2027.