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IFC approves $10m commitment

The member of the World Bank Group has backed an African venture capital fund.

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Institution: International Finance Corporation
Headquarters: Washington, D.C., United States
AUM: $43.64bn
Allocation to Alternatives: 33.0%
Bitesize: $10m-50m

International Finance Corporation (IFC) has announced a $10 million commitment to CardinalStone Capital Advisers Growth Fund. The fund will invest in SMEs in Nigeria and Ghana across sectors including consumer goods, healthcare, financial services, industrials and agribusiness.

As illustrated below, IFC has a regional appetite for Asia-Pacific, Latin America, Central and Eastern Europe and the Middle East/ Africa.

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