Adenia Capital II (formerly I&P Capital II)

Mauritius, Madagascar Manufacturing, Food and agriculture, Financial services

Founded in 2002, Adenia Partners is an investment firm investing in sub-Saharan Africa with offices in Mauritius, Madagascar, Cameroon, Cote d’Ivoire and Ghana. 

The firm takes controlling or influential minority stakes in small and medium size enterprises, which exhibit strong potential for operational improvement. Its focus markets are West Africa and the Indian Ocean.

SME fund with a focus on the Indian Ocean region of Africa.

This investment was made under a previous strategy. We disclose information on all our current investments, but narrative information on our pre-2012 investments, when we introduced a new strategy, may be limited.

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.


We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.

Financial services, Food and agriculture, Manufacturing
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Intermediated investment
Fund manager:
Adenia Partners
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

August 2007

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.


This is the investee company’s place of incorporation; or a fund’s jurisdiction.


Investments made by this fund

  • Active
  • Exited
Investment name Country Region Sector Start date Status

Socolait produces and sells fresh and long-life dairy products, snacks and juices to the local market.

View investment details

Madagascar Africa, East Africa Food and agriculture March 2012 Active

CDC is becoming British International Investment