New Delhi, July 2 -- Mediterrania Capital Partners (MCP), a Malta-based private equity fim that manages over €1 billion ($1.14 billion) in assets and deploys growth capital in mid-sized African companies, is launching a new vehicle to invest in European corporates expanding into Africa.

The PE firm, which marked the final close of its fourth flagship investment vehicle that makes investments in Africa about a year ago, has set up Mediterrania Capital EU Africa Catalyst Fund, VCCircle has learnt. The firm is looking to raise €280 million (around $319.6 million) through the vehicle.

It has also roped in a key limited partner--the European Investment Bank (EIB), which is the lending arm of the European Union--for the vehicle. The EIB, which also invested in its fourth fund, is considering a capital commitment of €70 million for the vehicle.

As per a disclosure, the vehicle intends to back European companies in their expansion towards Africa through exports, expanding local presence or nearshoring strategies.

The fund, in a disclosure, said that it "establish win-win opportunities by driving private sector growth and foreign direct investment across Africa, while strengthening EU trade, technological presence and value chains on the continent".

Previous fund

The firm closed its fourth mid-cap fund, Mediterrania Capital IV Mid Cap, collecting €600 million in June 2025. It initially targeted to raise €350 million for the fourth fund, with a hard cap of €400 million.

Through the fund, the Ta' Xbiex-headquartered PE firm invests in small and medium enterprises and mid-cap businesses across North and West Africa, with selective investments in the broader Pan-African region.

Its limited partners for the fourth vehicle include German development finance institution KfW DEG, the European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), and British International Investment (BII). KfG DEG is a returning LP, which had earlier backed its previous two outings with anchor investments.

Mediterrania has offices in Abidjan, Barcelona, Casablanca, Cairo and Mauritius. It was established in November 2012 as a spin-off from Riva y Garcia (RyG) by RyG's former managing partner Albert Alsina. It invests in African SMEs with an annual turnover between $21 million and $320 million.

Published by HT Digital Content Services with permission from VC Circle.