Africa’s first women-led and women-focused private equity fund AlitheiaIDF has finally closed its $100 million fund, with the European Investment Bank joining as the closing investor with $24.6 million.

Led by principal partners Polo Leteka and Tokunboh Ishmael, Alitheia IDF invests in growth-stage companies across six African countries, namely Nigeria, South Africa, Ghana, Zimbabwe, Lesotho, and Zambia.

The fund has led investment rounds in five women-led businesses across essential sectors including agribusiness, education, manufacturing, housing, technology, and logistics, including Jetstream Africa (Ghana), ReelFruit Ltd (Nigeria), SKLD (formerly SchoolKits, Nigeria), AV Light Steel (South Africa) and Chika’s Food (Nigeria).

AlitheiaIDF is currently the largest gender-lens private equity fund by value in Africa.