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# EIB Considers $85M Commitment to Admaius Capital’s $500M Virunga Africa Fund II
- URL: https://www.africainvestorreview.com/eib-considers-85m-commitment-to-admaius-capitals-500m-virunga-africa-fund-ii/
- Published: 2026-10-19T11:24:23.000Z
- Updated: 2026-10-19T11:24:23.000Z
- Description: The European Investment Bank evaluates a anchor equity ticket in the Luxembourg-domiciled growth buyout vehicle, joining a DFI consortium alongside the IFC, EBRD, Proparco, DEG, and Qatar Investment Authority.
- Author: Charles S.
- Tags: Private Equity, North Africa, West Africa, Southern Africa, East Africa, Central Africa

**LUXEMBOURG & KIGALI** — The [**European Investment Bank (EIB)**](https://www.linkedin.com/company/european-investment-bank/home/?ref=africainvestorreview.com) is evaluating a **$85 million (€76 million)**commitment to **Virunga Africa Fund II (VAF II)**, a **$500 million (€447 million)** Pan-African growth equity vehicle managed by private capital firm [**Admaius Capital Partners**](https://www.linkedin.com/company/admaius-capital-partners/home/?ref=africainvestorreview.com).

Currently under appraisal by EIB Global, the proposed equity ticket aligns with the EU’s **Global Gateway** strategy and EIB Global’s strategic directive, mandating a **50% capital allocation to North Africa and the EU Southern Neighbourhood** to accelerate cross-border EU-Africa trade and enterprise resilience.

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## DFI Consortium & Fund Architecture

Dominated by institutional and development finance institution (DFI) capital, the Luxembourg-structured vehicle serves as a successor to Admaius’s initial **Virunga Africa Fund I**:

- **LP Syndicate:** EIB joins a multi-lateral institutional LP backing group that includes **Team Europe** partners ([**EBRD**](https://www.linkedin.com/company/ebrd/home/?ref=africainvestorreview.com), [**Proparco**](https://www.linkedin.com/company/1337207/?ref=africainvestorreview.com), [**DEG**](https://www.linkedin.com/company/deg/home/?ref=africainvestorreview.com)), the World Bank Group’s **International Finance Corporation (IFC)**, and sovereign capital from the **Qatar Investment Authority (QIA)**.
- **Deployment Mandate:** Targets **10 to 12 growth equity and buyout investments**, taking majority or controlling minority stakes with ticket sizes averaging **$40 million to $50 million per portfolio company**.
- **Core Markets:** Primary deal-sourcing activities focus on **Egypt, Morocco, Kenya, Rwanda, and South Africa**.

## Target Sectors & Value Creation Model

Building on Admaius’s hands-on operational model, Virunga Africa Fund II delivers patient risk capital to mid-cap companies benefiting from African demographic expansion:

- **Focus Industries:** **Healthcare**, **Fast-Moving Consumer Goods (FMCG)**, **Education & Training**, **Digital Infrastructure**, and **Financial Services / Fintech**.
- **Operational Value Creation:** Prioritizes supply chain localization, governance institutionalization, sustainable job creation, and export expansion into European corridors.

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