Proparco
Private-sector financing subsidiary of the AFD Group (AFD held 84.79% at 31 Dec 2023) Agence Française de Développement (AFD)
Also known as Société de Promotion et de Participation pour la Coopération Economique
AFD Group development finance institution (AFD 84.79%) founded 1977; lends to and takes equity in companies and invests in PE/VC funds in Africa, Asia, Latin America and the Middle East.
- HEADQUARTERS
- Paris, France
- FOUNDED
- 1977
- AUM
- —
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 4 people
Focus
- STAGES
- SeedSeries AGrowth
- ASSET MIX
- Direct investmentsVenture capitalPrivate equityFunds (as LP)Private creditImpact
- GEOGRAPHY
- AfricaAsia-PacificLatin AmericaMiddle East
Overview
Proparco (Société de Promotion et de Participation pour la Coopération Economique) was created in 1977 by the Caisse centrale de coopération économique, which became the AFD in 1998. It finances private companies and financial institutions in Africa, Asia, Latin America, Eurasia and the Middle East through loans, guarantees, direct equity stakes and commitments to investment funds. In 2025 it reported €2.5bn invested in nearly 200 projects, including €1.3bn for climate. Its board is chaired by the AFD’s chief executive.
PORTFOLIO (8)
- AfricInvest Europe – Fonds franco-africain (fund commitment, €15M)since 2025
- Mirova Sustainable Land Fund 2 (fund commitment, €15M)Food & Agriculture · since 2025
- BlueEarth EM Impact Secondaries II (fund commitment, €31.5M)since 2025
- Kipeto wind farm, Kenya (equity, $15M, with Meridiam)Climate & Energy · since 2025
- Meridiam Infrastructure Africa Fund II (fund commitment)Climate & Energy
- DivercityReal Estate & PropTech
- Beacon Power ServicesClimate & Energy
- ARAF fund (via FISEA+)Food & Agriculture
People
Links
Frequently asked questions
Proparco is a government-backed fund based in Paris, France, founded in 1977.
Yes. Proparco invests its own capital in private companies. It also commits capital to third-party funds as an LP.
Proparco invests at Seed, Series A and Growth stages in Climate & Energy, Fintech, Food & Agriculture, HealthTech, Education and Real Estate & PropTech.
Key people at Proparco include Françoise Lombard (Chief Executive Officer (Directrice générale)), Emmanuelle Riedel Drouin (Deputy CEO (Directrice générale déléguée)), Jean-Baptiste Sabatié (Deputy CEO (Directeur général délégué)) and Christophe Lecourtier (Chairman of the Board (CEO of AFD)).
Proparco's investments include AfricInvest Europe – Fonds franco-africain (fund commitment, €15M), Mirova Sustainable Land Fund 2 (fund commitment, €15M), BlueEarth EM Impact Secondaries II (fund commitment, €31.5M), Kipeto wind farm, Kenya (equity, $15M, with Meridiam), Meridiam Infrastructure Africa Fund II (fund commitment), Divercity, Beacon Power Services and ARAF fund (via FISEA+).
No. Proparco invests its own capital and does not raise money from outside investors.