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Adenia Capital III (formerly I&P Capital III)
http://www.adenia.com/Last activity: 07.04.2026
Probably Closed
Founded in 2002, Adenia Partners is an investment firm investing in sub-Saharan Africa with offices in Mauritius, Madagascar, Cameroon, Cote d’Ivoire and Ghana.
The firm takes controlling or influential minority stakes in small and medium size enterprises, which exhibit strong potential for operational improvement. Its focus markets are West Africa and the Indian Ocean.
Adenia Capital III seeks to invest in a variety of sectors including agri-business, consumer goods, business services, manufacturing, financial services and hospitality.
The firm takes controlling or influential minority stakes in small and medium size enterprises, which exhibit strong potential for operational improvement. Its focus markets are West Africa and the Indian Ocean.
Adenia Capital III seeks to invest in a variety of sectors including agri-business, consumer goods, business services, manufacturing, financial services and hospitality.
Location: Kenya, Nairobi
Total raised: $470M
Investors 3
| Date | Name | Website |
| - | British In... | bii.co.uk |
| - | IFCAMC | ifcamc.org |
| - | Belgian In... | bio-invest... |
Funding Rounds 1
| Date | Series | Amount | Investors |
| 03.04.2024 | - | $470M | - |
Mentions in press and media 22
| Date | Title | Description |
| 07.04.2026 | Emerging managers face extended fundraising timelines as DFIs turn selective | - |
| 23.03.2026 | Africa's Entrepreneurial Surge: Adenia's $180M Fund Powers SME Growth, First Investment in Moroccan Culinary Brand | Adenia Partners triumphantly closed its $180 million Adenia Entrepreneurial Fund I. This swift, oversubscribed fund solidifies Adenia's $1 billion capital base. It targets high-growth, lower mid-cap African businesses with control investmen... |
| 22.03.2026 | Adenia Partners: $180 Million Raised For Entrepreneurial Fund Targeting African SMEs | Adenia Partners announced that it has reached a $180 million hard cap at the first close of its Adenia Entrepreneurial Fund I, marking a one-and-done fundraising achieved in under a year. The fund exceeded its original $150 million target a... |
| 19.03.2026 | Adenia Partners hits final close of SME-focussed PE fund | Premium Adenia managing partners Stephane Bacquaert (left) and Alexis Caude Adenia Partners, a Mauritius-based private equity firm that invests across the African continent, has marked the final ...... This is a Premium article. Please subs... |
| 19.03.2026 | Adenia Partners: $180 Million Raised For Entrepreneurial Fund And First Investment In Moroccan Food Brand Maymana | Adenia Partners, a private equity firm focused on growth opportunities across Africa, announced the first close of its Adenia Entrepreneurial Fund I at its hard cap of $180 million, exceeding its original $150 million target and bringing th... |
| 29.01.2026 | Adenia Partners makes an exit from four-year-old bet | Premium Credit: 123RF.com Adenia Partners, a Mauritius-based private equity firm that invests in mid-sized businesses across the African continent...... This is a Premium article. Please subscribe or log in to read the full story! Here's a ... |
| 27.01.2026 | Adenia Partners Makes First Majority Investment In Egypt With Parkville Pharmaceuticals Deal | Adenia Partners has signed definitive agreements to acquire a majority stake in Parkville Pharmaceuticals, marking Adenia’s first majority investment in Egypt. The stake is being purchased from Admaius Capital Partners, alongside Parkville’... |
| 16.01.2026 | Africa PE firm Adenia Partners set to onboard global LP for new vehicle | Premium Adenia managing partners Stephane Bacquaert (left) and Alexis Caude Adenia Partners, a Mauritius-based private equity firm that invests across the African continent, is set to receive commitment from another returning limited partne... |
| 18.08.2025 | Adenia eyes pan-African insurance group in fourth bet from $470-mn Fund V | Premium Antoine Delaporte, founder and managing partner, Adenia Partners Adenia Partners, a Mauritius-based private equity firm that focuses on mid-sized businesses across Africa, is likely to acquire a pan-African insurance brokerage firm ... |
| 04.04.2025 | Adenia appoints former Westpac Bank executive as group CFO | Premium Nicholas Rous, Group CFO, Adenia Partners Adenia Partners, a Mauritius-based private equity firm that focuses on mid-sized businesses across Africa, has expanded its leadership team, getting on board a former Westapc Bank executive ... |
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