Africa Growth Impact Fund

Our Flagship Funds with 40+ Deals

Africa Growth Impact

Fund I

Launched in 2016, TLG’s Africa Growth Impact Fund (AGIF I) is an open-ended credit fund with a mandate to invest in African SMEs. Thematically, AGIF I invests in strong businesses who have limited access to capital in their local geography. AGIF I has a special focus on healthcare, finance, and consumer sectors and applies a Gender 2x framework to our investments.

The fund has achieved best-in-class returns by offering innovatively structured debt solutions that cater to the needs of SMEs while providing robust downside protection for investors. This underscores our conviction that social and commercial returns can harmoniously coexist.

Open-end fund (12-month notice)


8-10%+ net return (annualised)

Short-term lending (1-3 year tenor)

$50m+
AUM

  • 83%

    Of historical investments have been made in small-and-medium enterprises, with $100k - $15m annual revenues.

  • 73%

    Of TLG investments have been into locally-owned African businesses

  • 80%

    Of track record in UN Least Developed Countries (<$1,310 GDP Per Capita) & Conflict Affected Countries

  • 90%

    of AGIF I companies have a higher portion of women in senior management than Gender 2X thresholds​

Africa Growth Impact

Fund II

Africa Growth Impact Fund II (AGIF II) is a 7-year, closed-ended fund that builds on the strategy of AGIF I. TLG has pioneered an innovative investment program to invest in African SMEs while providing capital relief to African banks. TLG partners with African banks to identify SME clients who the bank struggles to serve and AGIF II structures tailored financing solutions for these SMEs.

The SMEs benefit from the breathing room provided by TLG’s financing alongside  hands-on guidance from TLG’s local team. AGIF II offers a new path forward for thousands of African SMEs while ensuring sustainable livelihoods for their employees.

Closed-ended fund (7-year)

12-14%+ net return (annualised)

Patient capital (3-7 years)

$80m+
AUM

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