A Fund Dedicated to Fast-Growing Subregional SMEs
Following an initial closing on July 10, 2026, Cauris Management secured EUR 34.8 million (XOF 22.8 billion) in commitments for Fonds Cauris IV, its private equity fund dedicated to financing the private sector in West and Central Africa.
Fonds Cauris IV: A Proven Strategy Serving SMEs in West and Central Africa
Fonds Cauris IV, the fourth generalist fund among the five funds launched and managed by the Cauris Management group since its inception, was launched with Banque Ouest Africaine de Développement (BOAD) as the main Sponsor and continues a strategy successfully implemented since 1996: providing equity financing to high-growth SMEs, industrial companies, and corporate groups in French-speaking West and Central Africa. Designed for business leaders seeking a long-term financial partner, the fund combines sustainable capital, rigorous governance and operational proximity to drive value creation.
Investment Tickets, Priority Sectors and Target Fund Size
The fund will invest between EUR 2 million and EUR 10 million (XOF 1.3 and 6.5 billion) in equity and quasi-equity per company in priority sectors including mass consumer goods and services, green energy, banking and financial innovation, digital transformation, industry, and agricultural processing. The target size of the fund is EUR 70 million (XOF 46 billion) by the end of 2027.
An Initial Closing Backed Exclusively by African Institutional Investors
Current subscriptions totaling more than EUR 34 million (XOF 22.8 billion) have been secured exclusively from a broad range of African regional institutions, including long-standing investors such as BOAD, AFG Group, and SUNU Group. Following this initial closing, the fund plans to begin its investment activities immediately.
Statements from the Executives
About Cauris Management - Yeelen Capital
Founded in 1995, Cauris Management is the first private equity fund management company dedicated to SMEs in French-speaking West Africa. For more than thirty years, the team has supported the development of high-growth-potential companies through equity investments and long-term strategic support.
To date, Cauris Management has completed 52 investments and 47 exits, building solid expertise across sectors including agribusiness, hospitality, telecommunications, information and communication technologies (ICT), distribution, energy, and financial services.
Yeelen Capital, Strengthened Expertise in the Financial Sector
This expertise in the financial sector has been strengthened through the creation of Yeelen Capital, a consortium bringing together Cauris Management, Paul Derreumaux, founder of the Bank of Africa Group, and Amadou Raimi, former Chairman of Deloitte France and Vice-Chairman of Deloitte Global. Majority-owned by Cauris Management, Yeelen Capital manages Yeelen Financial Fund, with a total size of EUR 50 million (XOF 32.8 billion), a fund dedicated to financing the financial sector within the WAEMU region.
Cauris Management operates from its offices in Lomé and Abidjan, enabling it to support companies and financial partners throughout the sub-region in close proximity.
Transaction Advisers
- Fund Administrator: TRIPRO
- Legal Advisers: Bowmans Mauritius and Zotchi Avocats, Lomé
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