Àrgentil Capital Management Limited (ACML) has been selected for the Blended Finance Accelerator for Fund Managers (A4FM) — a global initiative led by Convergence Blended Finance and Global Affairs Canada (GAC).
The announcement was made on the sidelines of the World Bank Spring Meetings in Washington, D.C.
Chosen from a competitive field of over 180 applicants worldwide, Àrgentil is one of only six fund managers selected in this inaugural cohort.
The selection brings catalytic grant funding and structured acceleration support, enabling ACML to formally work towards launching the Àrgentil Investment Fund L.P. (ÀSIF) — a growth-oriented private equity vehicle targeting USD 75 million to deploy into underserved Small and Medium-sized Enterprises (SMEs) across Nigeria and Ghana.
Bridging the Institutional Gap
Central to the ÀSIF architecture is a dual-currency model. Structured to bridge international institutional capital with domestic liquidity pools — specifically domestic pension funds — this design directly addresses a key barrier that has historically limited local institutions from participating in private equity at scale.
“This selection is a significant milestone and a clear vote of confidence in the West African investment landscape,” said Gbenga Hassan, Managing Partner, Àrgentil Capital Management Limited. “SMEs are the backbone of the West African economy, yet a persistent ‘missing middle’ financing gap leaves them chronically undercapitalised. Through the A4FM programme, we are refining a dual-currency model that de-risks participation for domestic pension funds whilst channelling the long-term, patient capital our SMEs require to scale.”
The A4FM proof of concept stage support will help Àrgentil strengthen the fund’s foreign exchange (FX) structuring framework, deepen the local currency sleeve, and advance strategic investor engagement to support ASIF with mobilising capital for SMEs.
Leah Pedersen, Senior Director, Blended Finance Accelerator at Convergence : “We are pleased to support Àrgentil Capital Management Limited through the A4FM initiative as they advance an innovative approach to mobilizing both international and domestic capital into underserved SME markets in West Africa. The proposed dual-currency structure aims to unlock participation from local institutional investors, particularly pension funds, while addressing foreign exchange constraints. A4FM’s support will help Àrgentil validate their blended financing model to deepen local capital markets and expand capital access for SMEs”
The A4FM initiative underscores the pivotal role that innovative fund managers play in mobilising private capital for sustainable development leveraging blended finance tools. This partnership with Convergence and Global Affairs Canada ensures that the fund meets rigorous global standards of governance but also delivers a replicable model for mobilising domestic capital toward high-growth sectors that will define the region’s economic future.
