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Asset/Investment Management
proparco.fr

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Investments

46

Portfolio Exits

3

Funds

4

Partners & Customers

8

About Proparco

Proparco is a Development Financial Institution partly held by the French Development Agency (AFD) and by private shareholders of the North and South. The company's mission is to promote private investment in emerging and developing economies.

Proparco Headquarter Location

151 Rue Saint Honore

Paris, 75001,

France

+ 33 1 53 44 31 08

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Latest Proparco News

Proparco completes pre-series-A investment in Moringa

Jun 28, 2022

26 Jun 2022 Building on the Seed Investment by DOB Equity and USD 9.5m funding by Mastercard Foundation, Moringa is excited to have recently received an investment from Proparco to support its expansion outside Kenya. This has seen the tech-based learning institution start to train Software Engineers in Ghana and soon Nigeria with a plan to scale to other African countries in the next 12 months. Moringa, a career accelerator for Tech professionals in Africa, has been training High School/University Graduates to be Software Engineers and Data Scientists for the past 7 years in Kenya and achieved market leadership training over 4,000 students with an employment rate of over 85%. The investment comes at an exciting time with Moringa just agreeing to a curriculum licensing deal with the world’s leading coding boot camp, Flatiron School, and achieving ISO 9001:2015 certification. The stage is set for Moringa to play a significant role in developing African tech talent and connecting it to purposeful and significant earning opportunities whether full-time jobs, the gig economy, or becoming entrepreneurs. Google published the Africa Developer Ecosystem report in 2021 which indicates that there has been an increased global demand for remote tech talent which was accelerated by the pandemic, creating more employment opportunities for African technology professionals. The report indicates that African startups which are responsible for hiring more than half of the local developers raised over $4 Billion in 2021 -2.5X more than they raised in 2 Building on the Seed Investment by DOB Equity and USD 9.5m funding by Mastercard Foundation, Moringa is excited to have recently received an investment from Proparco to support its expansion outside Kenya. This has seen the tech-based learning institution start to train Software Engineers in Ghana and soon Nigeria with a plan to scale to other African countries in the next 12 months. Moringa, a career accelerator for Tech professionals in Africa, has been training High School/University Graduates to be Software Engineers and Data Scientists for the past 7 years in Kenya and achieved market leadership training over 4,000 students with an employment rate of over 85%. The investment comes at an exciting time with Moringa just agreeing to a curriculum licensing deal with the world’s leading coding boot camp, Flatiron School, and achieving ISO 9001:2015 certification. The stage is set for Moringa to play a significant role in developing African tech talent and connecting it to purposeful and significant earning opportunities whether full-time jobs, the gig economy, or becoming entrepreneurs. Google published the Africa Developer Ecosystem report in 2021 which indicates that there has been an increased global demand for remote tech talent which was accelerated by the pandemic, creating more employment opportunities for African technology professionals. The report indicates that African startups which are responsible for hiring more than half of the local developers raised over $4 Billion in 2021 -2.5X more than they raised in 2020. With 22% of Sub-Saharan small and medium-sized businesses starting or increasing their use of the internet, the need for web development skills is increasing rapidly. Higher demand for remote development work also led to increased opportunities; 38% of African developers work for at least one company based outside the continent. Moringa provides access for all to the training and network needed to participate in this tech revolution if they can demonstrate they have the aptitude and mindset required to succeed. This is part of the company’s mission to build talent and opportunities through tech-based learning experiences. Following our recent launches with Impact Hub Accra and Social Enterprise Ghana, Moringa and Plenty Tech Jobs Nigeria have entered into a market entry partnership that will see Moringa become a key provider of tech talent for the Nigerian workforce. Plenty Tech Jobs is a leading platform for finding the best technology job and remote gigs in Nigeria. The investment from Proparco will aid Moringa to prepare for Series A funding in 2023. Apart from International expansion outside Kenya, the funding from Proparco will also facilitate the broadening of the range of courses offered by Moringa. Currently, the institution offers Software Engineering, Data Science, and Soft Skills courses with plans to offer courses in UI/UX design in the near future. According to Snehar Shah, Moringa’s CEO “The investment comes at an exciting time for Moringa as the institution expands to Ghana and Nigeria. We are keen to leverage this partnership to train many more students using the leading US Bootcamp curriculum from Flatiron School. In line with our vision of a world in which anyone can create their future, we welcome the support of Proparco to make our courses available in new markets in Africa.” According to Françoise Lombard, Proparco’s CEO “Supporting the African tech ecosystem is one of Proparco’s key priorities. Through our investment in Moringa, Proparco is proud to support an ambitious Edtech in its expansion in Africa and thus contribute to bridging the skills gap that has been affecting the growth of startups on the African continent”. 020. With 22% of Sub-Saharan small and medium-sized businesses starting or increasing their use of the internet, the need for web development skills is increasing rapidly. Higher demand for remote development work also led to increased opportunities; 38% of African developers work for at least one company based outside the continent. Moringa provides access for all to the training and network needed to participate in this tech revolution if they can demonstrate they have the aptitude and mindset required to succeed. This is part of the company’s mission to build talent and opportunities through tech-based learning experiences. Following our recent launches with Impact Hub Accra and Social Enterprise Ghana, Moringa and Plenty Tech Jobs Nigeria have entered into a market entry partnership that will see Moringa become a key provider of tech talent for the Nigerian workforce. Plenty Tech Jobs is a leading platform for finding the best technology job and remote gigs in Nigeria. The investment from Proparco will aid Moringa to prepare for Series A funding in 2023. Apart from International expansion outside Kenya, the funding from Proparco will also facilitate the broadening of the range of courses offered by Moringa. Currently, the institution offers Software Engineering, Data Science, and Soft Skills courses with plans to offer courses in UI/UX design in the near future. According to Snehar Shah, Moringa’s CEO “The investment comes at an exciting time for Moringa as the institution expands to Ghana and Nigeria. We are keen to leverage this partnership to train many more students using the leading US Bootcamp curriculum from Flatiron School. In line with our vision of a world in which anyone can create their future, we welcome the support of Proparco to make our courses available in new markets in Africa.” According to Françoise Lombard, Proparco’s CEO “Supporting the African tech ecosystem is one of Proparco’s key priorities. Through our investment in Moringa, Proparco is proud to support an ambitious Edtech in its expansion in Africa and thus contribute to bridging the skills gap that has been affecting the growth of startups on the African continent”.

Proparco Investments

46 Investments

Proparco has made 46 investments. Their latest investment was in Annapurna Microfinance as part of their Unattributed - V on June 6, 2022.

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Proparco Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/24/2022

Unattributed - V

Annapurna Microfinance

$15M

Yes

7

6/23/2022

Seed

Moringa School

Yes

2

6/9/2022

Series A

GoMyCode

$8M

Yes

6

6/8/2022

Corporate Minority

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$99M

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10

6/6/2022

Unattributed

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$99M

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10

Date

6/24/2022

6/23/2022

6/9/2022

6/8/2022

6/6/2022

Round

Unattributed - V

Seed

Series A

Corporate Minority

Unattributed

Company

Annapurna Microfinance

Moringa School

GoMyCode

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Amount

$15M

$8M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

7

2

6

10

10

Proparco Portfolio Exits

3 Portfolio Exits

Proparco has 3 portfolio exits. Their latest portfolio exit was Unimed Laboratories on May 04, 2016.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/4/2016

IPO

$99M

Public

2

4/29/2016

Corporate Majority

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$99M

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10

8/29/2015

IPO

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$99M

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10

Date

5/4/2016

4/29/2016

8/29/2015

Exit

IPO

Corporate Majority

IPO

Companies

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Valuation

$99M

$99M

$99M

Acquirer

Public

Subscribe to see more

Subscribe to see more

Sources

2

10

10

Proparco Acquisitions

3 Acquisitions

Proparco acquired 3 companies. Their latest acquisition was Overseas Catering Services on November 26, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

11/26/2021

$99M

Acq - Fin

3

4/10/2020

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$99M

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10

7/24/2012

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$99M

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0

Date

11/26/2021

4/10/2020

7/24/2012

Investment Stage

Companies

Subscribe to see more

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Valuation

$99M

$99M

$99M

Total Funding

Note

Acq - Fin

Subscribe to see more

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Sources

3

10

0

Proparco Fund History

4 Fund Histories

Proparco has 4 funds, including Africinvest Fund IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/25/2020

Africinvest Fund IV

$30M

1

8/3/2018

African Startup Fund

10

AFD African Fund

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10

Le Bridge Fund

$99M

10

Closing Date

6/25/2020

8/3/2018

Fund

Africinvest Fund IV

African Startup Fund

AFD African Fund

Le Bridge Fund

Fund Type

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Status

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Amount

$30M

$99M

Sources

1

10

10

10

Proparco Partners & Customers

8 Partners and customers

Proparco has 8 strategic partners and customers. Proparco recently partnered with European Commission on June 6, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

6/21/2022

Partner

Belgium

1

6/21/2022

Partner

France

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10

5/9/2022

Client

Tanzania, United Republic of

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10

1/20/2022

Partner

France

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10

11/10/2021

Partner

Kenya

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10

Date

6/21/2022

6/21/2022

5/9/2022

1/20/2022

11/10/2021

Type

Partner

Partner

Client

Partner

Partner

Business Partner

Country

Belgium

France

Tanzania, United Republic of

France

Kenya

News Snippet

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Sources

1

10

10

10

10

Proparco Team

5 Team Members

Proparco has 5 team members, including current Chief Executive Officer, Gregory Clemente.

Name

Work History

Title

Status

Gregory Clemente

Chief Executive Officer

Current

Claude Periou

Chief Executive Officer

Current

Philippe Bassery

Chief Executive Officer

Former

Laurent Demey

Chief Executive Officer

Former

Etienne Viard

Chief Executive Officer

Former

Name

Gregory Clemente

Claude Periou

Philippe Bassery

Laurent Demey

Etienne Viard

Work History

Title

Chief Executive Officer

Chief Executive Officer

Chief Executive Officer

Chief Executive Officer

Chief Executive Officer

Status

Current

Current

Former

Former

Former

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