The winner of this year's private equity 'impact fund of the year' – Alitheia IDF Fund – has raised more than $100 million to support growth-stage companies, with a strong emphasis on gender-diverse leadership and inclusive business practices.
Under the supervision of Polo Leteka and Tokunboh Ishmael, the fund, which claims to be the continent's largest women-led private equity fund, has prioritised investments in Nigeria, Ghana, South Africa, Zambia, and Lesotho. Its gender-smart approach aims to drive systemic change, deploying capital to address structural gender inequalities. It also aims to promote climate resilience and digital transformation across Africa.
During the eligibility period, the fund invested in two additional gender-smart small- and medium-sized enterprises – which involves using capital to address gender disparities – taking the total number to 13. In addition, it hit several other milestones including access to essential services for over 7 million people.
The fund employs a 'Theory of Change' approach to systematically link its investments to measurable outcomes. Over the past year, it achieved significant milestones, including an increase in the number of women-owned portfolio companies from 74% to 78%, ensuring that 60% of portfolio companies adopted a gender strategy, and expanding board representation of women members.
“We are honoured to be named ‘Impact fund of the year’," Tokunboh Ishmael, co-founder and Principal Partner, Alitheia IDF. "This award highlights Alitheia IDF’s commitment to empowering African women, advancing environmental sustainability, and addressing key challenges like energy, education, mobility, and financial inclusion.
"By aligning capital with purpose, we are driving transformative change for communities and the planet, ensuring everyday Africans can thrive. Alitheia IDF’s investments demonstrate that empowering women transforms communities and creates long-lasting impact for the continent and the planet. This recognition inspires us to continue championing innovative solutions that empower people and transform economies across the continent making it possible for ordinary Africans to reach their potential."
