About This Fund
TLG Africa Growth Impact Fund II (AGIF II) is a $200 million private credit fund managed by TLG Capital, established to address the financing gap faced by African SMEs. With a strategic focus on supporting businesses that are financially viable but currently under strain, the fund aims to unlock their growth potential through tailored credit solutions and advisory support. The fund reached its first close at $75 million, backed by a consortium of international development finance institutions. Anchor commitments came from the International Finance Corporation (IFC), alongside Swedfund, Norfund, Bpifrance, and the UK’s Foreign, Commonwealth & Development Office (FCDO), through its Manufacturing Africa program. This collective backing reflects confidence in the fund’s approach and impact-oriented strategy. AGIF II works closely with local financial institutions to co-finance SMEs, often leveraging guarantees from local banks to reduce investment risk. This collaboration ensures capital reaches underserved yet promising companies, enabling them to restructure debt, expand operations, and maintain employment during challenging macroeconomic conditions. In addition to financial support, AGIF II offers value-added strategic and operational advisory services. The fund partners with leading advisory firms such as McKinsey, BDO, ESS, and Ndarama Works to help portfolio companies transform their business models and strengthen resilience. This dual approach of capital and capacity-building is central to AGIF II’s impact thesis. The fund prioritizes inclusive and sustainable development by focusing on investments in the UN’s least developed countries, promoting gender equity, local ownership, and industrialization. AGIF II embodies a strong belief in achieving competitive financial returns while delivering meaningful development outcomes.