Broadening horizons How do private equity investors create value? Mauro Bassotti
This reaearch offers informations on the ways wich private capital creates values and delivers commercial returns presenting practical indicators of what it takes to grow a portfolio company to exit succesfully in Africa
“I&P Développement” is raising more than EUR 30 million to launch its new impact investment strategy for African entrepreneurship
I&P Développement (IPDEV), a successful ten-year old social venture capital company investing in small and middle size businesses in Sub-Saharan Africa, is raising:
- EUR 25 million in equity and other instruments to launch its new strategy,
- EUR 7 million of grant funding to set up a Technical Assistance Fund.
IPDEV’s new “intermediation strategy” leverages a solid financial and social track record. It aims to establish a network of 10 in-country venture capital vehicles that will target “the missing middle,” i.e., the high-potential and yet grossly underserved segment of Small Growing Businesses (SGBs) with needs between EUR 30,000 and 300,000.
This new and promising strategy is “Impact First” and targets strong results over 15 years:
Development of 550 companies in the formal economy with 1/3 of them being startups
Creation and preservation of around 14.000 formal permanent jobs
Building of an African venture capital industry with 10 sustainable African investment teams
Improvement of environmental, social and governance standards and practices in African enterprises
More companies addressing directly the challenge of clean and efficient energy as well as basic services (health, water, sanitation, education…)
Financial returns will ensure the preservation of investment capital in the long run.
Broadening horizons How do private equity investors create value? Mauro Bassotti
This reaearch offers informations on the ways wich private capital creates values and delivers commercial returns presenting practical indicators of what it takes to grow a portfolio company to exit succesfully in Africa
“I&P Développement” is raising more than EUR 30 million to launch its new impact investment strategy for African entrepreneurship
I&P Développement (IPDEV), a successful ten-year old social venture capital company investing in small and middle size businesses in Sub-Saharan Africa, is raising:
- EUR 25 million in equity and other instruments to launch its new strategy,
- EUR 7 million of grant funding to set up a Technical Assistance Fund.
IPDEV’s new “intermediation strategy” leverages a solid financial and social track record. It aims to establish a network of 10 in-country venture capital vehicles that will target “the missing middle,” i.e., the high-potential and yet grossly underserved segment of Small Growing Businesses (SGBs) with needs between EUR 30,000 and 300,000.
This new and promising strategy is “Impact First” and targets strong results over 15 years:
Development of 550 companies in the formal economy with 1/3 of them being startups
Creation and preservation of around 14.000 formal permanent jobs
Building of an African venture capital industry with 10 sustainable African investment teams
Improvement of environmental, social and governance standards and practices in African enterprises
More companies addressing directly the challenge of clean and efficient energy as well as basic services (health, water, sanitation, education…)
Financial returns will ensure the preservation of investment capital in the long run.
Financial Literacy for Financial Inclusion, Egypt Case. Presented by Ms. Mona el Baradei at the United Nations 23 May 2014, during "A Chance for Change" co-hosted by Child & Youth Finance International and UNCDF. #CYFI2014 #UNforYouth
Presentation by Maria Shaw-Barragan, EIB Deputy Director of Global Partners Department, on the European Investment Bank's activities outside the EU made on 17/01/2017.
Private Equity Investment in Africa - In Support of Inclusive and Green Growt...asafeiran
!e African Development Bank Group uses Private Equity
Funds to invest in a diverse range of African enterprises,
supporting them in their expansion and giving them the capital and the expertise to grow, creating jobs and driving economic growth. !e funds to which the Bank has committed are invested in 294 individual companies across the continent.
Yksi European Bioeconomy Scene -konferenssin puheista.
One of the speeches in European Bioeconomy conference.
Konferenssin ohjelma/Conference programme: https://www.bioeconomy.fi/wp-content/uploads//2019/06/EUBioScene_programme.pdf
Presentations from the December 5th seminar held at the LSE on women's economic empowerment through savings groups and business skills training. The seminar centred on NGO partnership between CARE International and Hand in Hand International in Rwanda.
Speaker presentations are by Care International, Hand in Hand International, Credit Suisse and Sparkassenstiftung für internationale Kooperation e.V.
This presentation was part of the NCVO event - 'It's Our Community research workshop - East of England'.
This event was organised by NCVO, BIG Society CIC and Peterborough Council for Voluntary Service, to look at how European funding has been used to fund community-led solutions to local problems, and explore how this funding might be used in the future.
Ingrid Gardiner (EU manager) gave a presentation on European Structural and Investment Funds : Community Grants. NCVO co-ordinates the European Funding Network.
You can find out more about NCVO events on the European Funding Network website: http://europeanfundingnetwork.eu/events/ncvo-event
Financial Literacy for Financial Inclusion, Egypt Case. Presented by Ms. Mona el Baradei at the United Nations 23 May 2014, during "A Chance for Change" co-hosted by Child & Youth Finance International and UNCDF. #CYFI2014 #UNforYouth
Presentation by Maria Shaw-Barragan, EIB Deputy Director of Global Partners Department, on the European Investment Bank's activities outside the EU made on 17/01/2017.
Private Equity Investment in Africa - In Support of Inclusive and Green Growt...asafeiran
!e African Development Bank Group uses Private Equity
Funds to invest in a diverse range of African enterprises,
supporting them in their expansion and giving them the capital and the expertise to grow, creating jobs and driving economic growth. !e funds to which the Bank has committed are invested in 294 individual companies across the continent.
Yksi European Bioeconomy Scene -konferenssin puheista.
One of the speeches in European Bioeconomy conference.
Konferenssin ohjelma/Conference programme: https://www.bioeconomy.fi/wp-content/uploads//2019/06/EUBioScene_programme.pdf
Presentations from the December 5th seminar held at the LSE on women's economic empowerment through savings groups and business skills training. The seminar centred on NGO partnership between CARE International and Hand in Hand International in Rwanda.
Speaker presentations are by Care International, Hand in Hand International, Credit Suisse and Sparkassenstiftung für internationale Kooperation e.V.
This presentation was part of the NCVO event - 'It's Our Community research workshop - East of England'.
This event was organised by NCVO, BIG Society CIC and Peterborough Council for Voluntary Service, to look at how European funding has been used to fund community-led solutions to local problems, and explore how this funding might be used in the future.
Ingrid Gardiner (EU manager) gave a presentation on European Structural and Investment Funds : Community Grants. NCVO co-ordinates the European Funding Network.
You can find out more about NCVO events on the European Funding Network website: http://europeanfundingnetwork.eu/events/ncvo-event
Similar to private_equity_fund_portofolio.pdf (20)
Explore our comprehensive data analysis project presentation on predicting product ad campaign performance. Learn how data-driven insights can optimize your marketing strategies and enhance campaign effectiveness. Perfect for professionals and students looking to understand the power of data analysis in advertising. for more details visit: https://bostoninstituteofanalytics.org/data-science-and-artificial-intelligence/
Levelwise PageRank with Loop-Based Dead End Handling Strategy : SHORT REPORT ...Subhajit Sahu
Abstract — Levelwise PageRank is an alternative method of PageRank computation which decomposes the input graph into a directed acyclic block-graph of strongly connected components, and processes them in topological order, one level at a time. This enables calculation for ranks in a distributed fashion without per-iteration communication, unlike the standard method where all vertices are processed in each iteration. It however comes with a precondition of the absence of dead ends in the input graph. Here, the native non-distributed performance of Levelwise PageRank was compared against Monolithic PageRank on a CPU as well as a GPU. To ensure a fair comparison, Monolithic PageRank was also performed on a graph where vertices were split by components. Results indicate that Levelwise PageRank is about as fast as Monolithic PageRank on the CPU, but quite a bit slower on the GPU. Slowdown on the GPU is likely caused by a large submission of small workloads, and expected to be non-issue when the computation is performed on massive graphs.
Adjusting primitives for graph : SHORT REPORT / NOTESSubhajit Sahu
Graph algorithms, like PageRank Compressed Sparse Row (CSR) is an adjacency-list based graph representation that is
Multiply with different modes (map)
1. Performance of sequential execution based vs OpenMP based vector multiply.
2. Comparing various launch configs for CUDA based vector multiply.
Sum with different storage types (reduce)
1. Performance of vector element sum using float vs bfloat16 as the storage type.
Sum with different modes (reduce)
1. Performance of sequential execution based vs OpenMP based vector element sum.
2. Performance of memcpy vs in-place based CUDA based vector element sum.
3. Comparing various launch configs for CUDA based vector element sum (memcpy).
4. Comparing various launch configs for CUDA based vector element sum (in-place).
Sum with in-place strategies of CUDA mode (reduce)
1. Comparing various launch configs for CUDA based vector element sum (in-place).
2. Mandates & Objectives
Mandate
• ACP: Investment Facility funded through EDF (+€3 billion
revolving facility, max. 20% equity)
Objectives
Blended framework of
• business development impact,
• demonstrating effect and
• financial return
• Provide growth capital to MSMEs to foster financial inclusion,
job creation & entrepreneurship
• Develop PE markets and support local (indigenous) managers
2
3. Global PE Penetration – an instrument in short supply
3
*Sub-Saharan Africa; **Middle East & North Africa
Source: Emerging Markets Private Equity Association
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
Private
Capital
Investment/GDP
(%)
2014 2015
4. ACP private equity fund portfolio
as at 31 December 2015*
• 51 active private equity funds
• Total EIB commitment: EUR 752m
• Total EIB disbursements: EUR 518m
• Average ticket size: EUR 15m
• Average underlying investment size (in investee): EUR 3.6m
• Main focus on SMEs (36 funds) and on microfinance institutions
(15 funds)
4
*Most funds in the IF Cotonou portfolio are denominated in USD. Cambio USD/EUR exchange rate as at 31Dec15 applied
5. EIB’s specificity
5
0.0% 20.0% 40.0% 60.0% 80.0%
1st closing
1st time fund
1st time team
anchor investor
75.0%
47.2%
50.0%
52.8%
ACP
ACP
6. Anchor investor at first close
Catalyst effect:
Since 2003 mobilization of third party capital in excess of EUR 3.1
billion 5 EUR for every 1 EUR invested in a fund by EIB (on
average).
6
7. EIB’s co-investors in ACP PE funds
7
European Investment Bank
57%
0%
3%
3%
4%
24%
5%
2% 2%
Supranational, national
financing/development institution
Sovereign Wealth Funds
Corporate Pension Funds
Public Sector Pension Funds
Commercial banks
Insurance companies and private pension
providers
Fund of Funds, Investment Manager
GP, Fund Manager, placement agent and
other service providers
Family Offices and HNWIs
Charities/Foundations
8. EIB as a long term hands-on partner
Provides first time teams with hands on assistance :
• shaping the business case at the outset
• structuring the fund
• drafting agreements
• anchor capital + investment in successor funds
• fundraising
• training-on the job, directly and through Tech. Assistance
• contributing to improve corporate governance
8
9. Fund investee companies in ACP regions and beyond
9
European Investment Bank
Caribbean
8.8%
Central Africa
1.3%
East Africa
23.3%
Pacific
0.7%
Regional Africa
1.8%
South Africa
6.4%
Southern Africa
5.3%
West Africa
52.7%
10. Performance of active ACP PE fund portfolio
Financial Performance
The current portfolio yielded a net IRR of 6.04% as at the end of 2015
(25 funds reported net IRR as at end of year 2015)
Non-Financial Performance
Based on information received from 160 investee companies, EIB has so far
helped create/maintain 95,000 jobs, of which
88% were full-time jobs,
27% of all jobs were held by women, and
13% of all employees were <=25 years old.
10
European Investment Bank
11. Example of a Social Impact Fund: Novastar
11
• Novastar will support early stage businesses that provide goods and services
transforming low-income consumer markets (the « base of the pyramid » -
BoP)
• Target total size: USD 80m – First closing Q2 2014 at USD 40m
• Prospective investors: CDC (USD 15m), FMO, Norfund (USD 10m each), private
investors (Lundin, Rwanda Pension fund, etc.) and EIB-IFE (USD 10m).
Novastar Fund
Bridge
Academy
Sanergy
Honey
Care
M-Farm
15 other
projects
Deal
Flow
