Sub-Saharan Africa-focused impact investment firm Investisseurs & Partenaires has reached a final close for fund of funds I&P Développement 2 (IPDEV 2) with EUR21 million (approximately US$25 million) in capital commitments. Investors in the fund include the Adolf H. Lundin Charitable Foundation, the African Development Bank, BNP Paribas, Ceniarth, Soros Economic Development Fund and FISEA, an Africa-focused fund managed by Proparco. The fund reached a first close in October 2015 with EUR9.5 million (approximately US$11 million) in capital commitments. IPDEV 2 aims to build a network of 10 Sub-Saharan Africa-focused impact investing funds, five of which have already launched in Burkina Faso, Côte d’Ivoire, Madagascar, Niger and Senegal. In addition to the US$25 million raised by IPDEV 2, the fund has reportedly secured EUR15 million (approximately US$18 million) from Africa-based co-investors, as well as a grant of EUR19 million (approximately US$22 million) for technical assistance and seed funding for SMEs.