Fund vehicle
AfricInvest Financial Inclusion Vehicle FIVE
The AfricInvest Financial Inclusion Vehicle (FIVE) is an evergreen investment fund managed by AfricInvest, dedicated to accelerating financial inclusion across Africa. Launched to bridge the funding gap for "missing middle" financial institutions, the fund targets Tier II and Tier III players, including mid-sized banks, insurance companies, microfinance institutions, and fintechs. Unlike traditional closed-end funds, FIVE utilises an open-ended (evergreen) structure to provide patient long-term capital to support the digital transformation of its portfolio companies, aiming to achieve universal financial access on the continent.
- Manager
- AfricInvest
- Vintage
- 2017
- Strategy
- Private Equity
- Target size
- $231m
- Size
- $70m
- Status
- Active
Disclosed limited partners
- Belgian Investment Company for Developing Countries (BIO)
- Central Bank of Kenya Pension Fund
- Impact Fund Denmark (IFU)
- KfW Development Bank
- Lundin Foundation
- Netherlands Development Finance Company (FMO)
- SDG Frontier Fund
- The African Development Bank Group (AfDB)
- The Norwegian Investment Fund for Developing Countries (NORFUND)
Sources
- Partner Researchers, accessed 14 November 2026