Development Partners International, a London-based private equity business, has reached the first close for its African Development Partners IV fund.
According to Impact Alpha, the fund secures backing from the International Finance Corp as well as French and German development banks. The IFC invested up to $75m, alongside a co-investment commitment of $50m. Meanwhile, Germany’s DEG committed $50m and France’s Proparco $42m.
The ADP fund launched the fund – one of the largest single Africa-focused PE funds – last year and intends to invest in around a dozen mid-and-large-sized firms in education, financial services, consumer goods, health and other sectors.
Impact Alpha stressed that DPI aligns its investment strategy with gender-inclusion targets from 2X Global and tracks impact metrics around job growth, climate and job quality.
The company introduced its first ADP fund back in 2009, securing $400m. In 2015, it closed its second fund at $725m, and its third closed on $900m in 2021.
In 2025, DPI launched a venture capital strategy, snapping up a $105 million Egypt-based fintech fund, Nclude, to anchor the strategy.
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