In Angola’s post-civil war capital market, risk capital was unavailable to small and medium sized companies.
Norfund therefore decided to establish Fundo de Investimento Privado – Angola (FIPA), Angola’s first private equity fund.
The objective was to establish a private equity market in Angola to support the growth of small and medium sized enterprises. We have been an anchor investor in both the fund manager and the fund and we continue to play an active role in the governance of these entities.
Since the first closing in 2009, FIPA I and II have invested in six companies, including the integrated fishing operation, African Selection Trust.