Investment group eyes regional SMEs with new Nairobi office

lmpact investing group Investisseurs and Partenaires (I&P) has opened a Nairobi office as part of its expansion into Kenya and the East African region, targeting investing in high-potential small and medium-sized businesses.

The strategy aims at tapping the dynamic entrepreneurial ecosystem in the region.

“The entrepreneurial ecosystem is very dynamic within East Africa, and yet it appears that only a few investment funds are keen to invest amounts within IPAE 2’s target range, most favouring larger deals,” noted Asif Noorani I&P Investment Manager for East Africa.

The Nairobi-based office will enable I&P source for investment opportunities for its new Sh11.8 billion fund, I&P Afrique Entrepreneurs 2.

IPAE 2 fund aims to invest in equity and quasi-equity as a minority shareholder in 30 to 40 startups and businesses located in Sub-Saharan Africa and the Indian Ocean. The investment tickets range from Sh 127 million to Sh636.6 million.
“I&P is aiming at closing that SME finance gap,” said Jérémy Hajdenberg, Chief Investment Officer, responsible for the East African region.

“Expanding our geographical footprint allows us to diversify political and economic risks. Besides, I&P is looking forward engaging more with the dynamic impact investing community established in East Africa”said Jérémy.
I&P also announced that it recently hired Asif Noorani as its Investment Manager for East Africa, with the aim of building jointly on his local knowledge, networks and investment experience to grow the portfolio.

Asif is a seasoned Private Equity professional, having spent seven years at Fanisi Capital, a Kenyan PE fund investing in SMEs in East Africa where he was leading the investment team, as Investment Principal.
Before that, he worked for Prime Bank in Nairobi after returning from London where he worked as a career accountant and lecturer. Asif will work closely with Jeremy.