The African Development Bank Group has approved an equity investment of up to USD 15 million in the Alterra Africa Accelerator Fund L.P. (“Alterra” or the “AAA Fund”), a multi-sector private equity fund focused on scaling high-growth enterprises across Africa. This investment aims to mobilize additional institutional capital and enhance the Fund’s ability to provide long-term growth financing to African companies with strong expansion potential. Through this support, the Bank seeks to accelerate scalable businesses, particularly those promoting innovation, regional growth, and job creation.
The AAA Fund focuses on mid-sized, high-growth enterprises across various sectors in Africa. It incorporates gender and social inclusion commitments, including increasing leadership representation and expanding procurement from women-led businesses, ensuring that its investments generate broad-based and inclusive economic impact.
This investment aligns with the African Development Bank’s strategic priorities, contributing to improved access to capital, supporting Africa’s demographic transformation, and fostering climate-resilient infrastructure and value addition across key economic sectors.
Alterra Africa Accelerator Fund is an independent private equity platform established after the spin-out of the Carlyle Africa team, strengthened by professionals from Emerging Capital Partners. Its management team has over two decades of experience in African private equity, with a cumulative investment record exceeding USD 2.2 billion in sectors such as telecommunications, consumer goods, logistics, financial services, and healthcare. The Fund focuses on partnering with high-potential African companies, supporting growth through operational improvements, technology adoption, and regional expansion, while maintaining strong environmental, social, and governance standards throughout its investment process.
