Development Partners International (DPI), a premier investment firm with focus on Africa has called on growing and established Ghanaian companies to tap into its $ 900 million African Development Partners III Fund (ADP III) to raise funds for their operations.
“We look to investing in businesess that are ultimately serving the African middle class as the middle class grow and earn more money, they will require more goods and services so ultimately we are looking to investing in companies that are providing these goods and services to the African middle class, for us that means investing in multiple sectors, cutting across financial services, technology, telecommunications, fast moving consumer goods, retail, education, healthcare,” Adefolarin Ogunsanya, an investment professional at DPI LLP said in an interview with the Ghanaian Times on Friday .
“We find the Ghanaian market to be very attractive, like what I said, we have invested in the Ghanaian market. We have actually done well with our investment with Cal Bank several years ago. So it is a market that we know very well and deliver good returns to us and we are actively involved,” he said.
ADP III secured capital from a broad range of leading pension and sovereign wealth funds, development finance institutions, endowment and foundations, insurance companies, fund-of-funds, asset managers, and impact investors.
The global investor base represents 20 countries across North America, Europe, Middle East and Africa. In addition to strong support from existing investors, DPI welcomed over 25 new LPs into its investor base.
This is testament to DPI’s track record and ability to create institutional-grade investment opportunities in Africa, while continuing to deliver sustained environmental and economic impact.
Runa Alam, co-founder and Chief Executive of DPI in a statement said “Africa remains an exciting investment destination with positive demographics, rising adoption of technology, and rising consumer and business spending. Against this backdrop, DPI has continued to generate top quartile returns by leveraging our team’s deep-rooted local expertise across the African continent.
“As we look towards the future with our ADP III fund, we will focus on innovation-driven companies leading the digital transformation of the economies in which they operate. In addition, our deep integration of impact and ESG initiatives in the investment life cycle has been widely recognised and ensures we are known as a trusted partner.”
Joanne Yoo, Managing Director at DPI, said, “The strong support for ADP III validates our strategic focus, creative approach and investment discipline. We are grateful for the trust that our investors have placed in DPI, and we are confident that our talented team will continue to deliver competitive returns and impact.”
Additionally, DPI has a significant pipeline of investment opportunities across the continent, focused on key sectors of the economy such as financial services, healthcare, agri-business, education, and telecom infrastructure.
DPI places an emphasis on promoting best in class standards in ESG through its investments, with the aim of creating institutionalised high-performing companies at exit.
Working with its portfolio companies, DPI seeks to contribute to the UN Sustainable Development Goals by implementing its proprietary Impact and ESG Management System based on three key impact themes: Job Quality, Climate Change, and Gender Balance.
BY DAVID ADADEVOH