IFC, TLG Capital Announce $75m First Close of African Private Credit Fund to Support SMEs

IFC, TLG Capital Announce $75m First Close of African Private Credit Fund to Support SMEs

To support small and medium sized enterprises in Africa—and to protect jobs at those businesses—IFC and TLG Capital announced the first close of a new private credit fund, TLG Africa Growth Impact Fund II (AGIF II), with $75 million raised. IFC, through its Distressed Asset Recovery Program (DARP), is anchoring the AGIF II Fund with a commitment of up to $20 million, which is also backed by Swedfund, Norfund, Bpifrance, and the UK Foreign, Commo…

TLG Capital, a London-based investment company, confirmed the first closure of its Africa Growth Impact Fund II (AGIF II), raising USD 75 million on an overall target of USD 200 million. This fund aims to increase access to finance for small and medium-sized enterprises (SMEs) in Africa. The AGIF II fund is supported by the...