In a transformative move for the African investment landscape, the African Development Bank (AfDB), in partnership with Investisseurs & Partenaires (I&P), has unveiled the Pan-African Fellowship for Emerging Fund Managers. Designed to cultivate a new wave of fund managers across the continent, this 8-month program is poised to reshape Africa’s private equity and venture capital scene.
As a result of this initiative, up to 20 high-potential fund managers will receive tailored support, expert mentorship, and direct access to a continent-wide network of institutional investors. Consequently, they’ll be better equipped to tackle Africa’s unique investment challenges.
Addressing Long-Standing Barriers with a Fresh Approach
The African investment ecosystem, although brimming with opportunity, has historically been hampered by a series of structural and perception-based barriers. These include:
- Limited access to institutional capital
- A lack of trust between new fund managers and development finance institutions (DFIs)
- Challenges in building sustainable fund structures
- The rising pressure to integrate ESG principles, climate finance, and gender-lens investing
Thus, AfDB’s Fellowship isn’t merely timely—it’s necessary. While many have debated how to empower Africa’s next generation of financial leaders, this program takes real, measurable steps to do so.
What Makes This Fellowship Unique?
This isn’t just another capacity-building program. In fact, its uniqueness lies in I&P’s dual expertise as both a General Partner (GP) and a Limited Partner (LP). Having raised over $480 million and backed 24 emerging fund managers, I&P brings unrivaled insights and credibility.
Additionally, participants will benefit from:
- Hands-on mentorship by seasoned VC and PE professionals
- Live webinars on topics like investment execution and fund governance
- In-person networking via a bootcamp held at a major African ecosystem event
- One-on-one coaching focused on each manager’s strategic growth areas
Furthermore, the fellowship provides a critical platform to demystify the investment process for underrepresented groups, particularly youth-led and women-led funds.
Who Can Apply to the Fellowship?
The ideal applicants are emerging PE/VC fund managers who:
- Are actively investing in African markets
- Are at the launch or first close of their inaugural fund
- Have portfolios under USD 50M
- Emphasize underserved regions or sectors
- Represent youth leadership (under 35 years in senior roles)
So, if your fund is still building momentum but has clear additionality and impact potential, this fellowship could be a game-changer.
Program Timeline and Application Details
The application window is currently open until May 21, 2025, with the program set to begin in June 2025. To apply, simply fill out the form at the following link:
👉 Application Form
The Broader Mission: Jobs for Youth and Boosting African Entrepreneurship
It’s worth noting that this fellowship is a flagship initiative of AfDB’s Innovation & Entrepreneurship Lab (The Lab). This initiative is part of the broader Jobs for Youth in Africa Strategy and the Boost Africa Program, in collaboration with the European Investment Bank (EIB).
Together, they aim to enhance access to capital and capacity-building for Africa’s startup ecosystem. Ultimately, this fellowship is just one pillar of a wider commitment to inclusive, sustainable growth across the continent.
Why This Fellowship Matters Now More Than Ever
Amid macroeconomic volatility and tightening global capital markets, Africa needs bold, localized investment leadership. And while global players may hesitate, local fund managers understand the on-the-ground realities.
Therefore, by investing in emerging fund leaders today, AfDB and I&P are catalyzing long-term, African-led economic development.
FAQs
What is the duration of the fellowship program?
The program lasts for 8 months, offering a structured blend of training, mentorship, and networking.
Is there a fee to apply or participate?
No, the fellowship is fully sponsored by AfDB and implemented by I&P.
Can a fund with over $50M in assets apply?
No, the cap is USD 50 million in assets under management to qualify as an “emerging fund.”
Do I need to have a launched fund to apply?
Not necessarily. The program is open to those at the launch stage or with a first close already completed.
Will there be in-person components to the program?
Yes, there will be a bootcamp that coincides with a major African investment ecosystem event.
Are solo GP funds eligible to apply?
Yes, as long as other eligibility criteria are met.
Conclusion
The Pan-African Fellowship for Emerging Fund Managers isn’t just a capacity-building program—it’s a movement. By focusing on authentic African leadership, inclusive capital, and strategic growth, the fellowship empowers a new generation of financial trailblazers to shape the continent’s future.
More than anything else, it proves that Africa’s investment potential is best unlocked by those who understand it from the inside out.
