AfricInvest

AfricInvest is a Tunis-based pan-African private equity and venture capital investment platform founded in 1994 by Aziz Mebarek and Ziad Oueslati, making it one of the oldest and most experienced private capital managers on the African continent. The firm started as a Tunisian-focused small and mid-cap private equity fund and expanded progressively across North Africa in the late 1990s and into sub-Saharan Africa from 2003. Today AfricInvest manages more than $2 billion in assets across 21 funds and employs over 100 investment professionals in 11 offices including Tunis, Nairobi, Lagos, Abidjan, Cairo, Casablanca, Paris, Dubai, Valletta, Johannesburg, and Moka. The firm has invested in more than 200 companies across 35 African countries in sectors spanning financial services, agribusiness, consumer goods, education, healthcare, and manufacturing. AfricInvest co-founded the African Private Equity and Venture Capital Association (AVCA) and the Global Private Capital Association (GPCA), cementing its role as an institution-builder as well as an investor. It manages several distinct strategies including a mid-cap pan-African private equity fund (AfricInvest Fund IV targeting $400 million), a financial inclusion evergreen vehicle (FIVE), a Franco-African expansion strategy, and dedicated healthcare and blended finance vehicles. Beyond its listed investments in Migo and InstaDeep, the firm's broader portfolio spans financial services companies, agribusinesses, consumer goods brands, and technology companies across more than 35 African countries.