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About Us

Our Vision

Navigating the Emerging Manager Challenge

Emerging private equity and venture capital managers face significant hurdles, especially in the demanding landscape of Emerging Markets. Continuous fundraising, limited resources, and high expectations from limited partners create a challenging environment

In Emerging Markets, emerging fund managers are expected to navigate the following obstacles:

Challenging capital raising

Operational infrastructure

Regulatory compliance

Stepped-up LP due diligence

Cost management

Access to talent

The demand for fresh perspectives from LPs often collides with the expectation of launching a fund with the expertise of a seasoned manager

What We Offer at AlphaMaxx

Empowering Fund Managers to Focus on What Matters Most

We empower emerging fund managers by providing a comprehensive suite of services designed to alleviate the operational burdens that often hinder their growth

Ready-Made Fund Solutions

We offer ready-made fund structures that are tailored to meet the specific needs of emerging managers. These solutions streamline the fund setup process, allowing fund managers to quickly and efficiently launch their funds without the usual delays and complexities

Shared Services

Our outsourced services cover all aspects of fund administration, from regulatory compliance to investor reporting. By handling these intricate tasks, we enable managers to direct their full attention to cultivating relationships with investors and identifying promising portfolio companies

Value-Added Solutions

Beyond the basics, we provide value-added solutions that enhance the overall fund management experience. This includes strategic advisory services, risk management, and access to a network of industry experts. With our support, managers can make informed investment decisions that align with their long-term goals

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Our Approach

We empower emerging managers to focus on what they do best—making strategic investment decisions—while we handle the complexities of fund management


At AlphaMaxx, we believe in empowering emerging fund managers to thrive in even the most challenging environments. Our approach is centered around three core principles:


Customization :

We understand that each fund manager’s journey is unique. That is why we tailor our solutions to meet the specific needs of each client. From fund structuring to compliance, we customize our services to align with your investment goals, operational needs, and market conditions

Partnership :

We see ourselves as more than just a service provider—we’re a strategic partner. We work closely with fund managers at every stage of their fund’s lifecycle, providing ongoing support and expert advice. Our goal is to build long-term relationships that foster growth and success

Innovation :

The investment landscape is constantly evolving, and so are we. We leverage the latest technologies and industry best practices to deliver cutting-edge solutions. Whether it’s streamlining administrative processes or enhancing investor relations, we ensure that our clients stay ahead of the curve

AlphaMaxx Founders

Papa Madiaw Ndiaye
Co-Founder

Papa Madiaw Ndiaye is the Chief Executive Officer and Founding Partner of AFIG Funds. He leads the strategic direction of the Fund, manages LP relationships and oversees the investment process as Chair of the Investment Committee. Papa serves on the boards of several African companies including AFIG Fund’s investee companies. He is also a board member of AVCA, the Africa PE association

Prior to AFIG Funds, Papa was Co-Founder and Investment Director at Emerging Markets Partnership in Washington (EMP, now ECP). He was one of three partners to raise and manage the USD 407 million AIG African Infrastructure Fund,
which when launched in 2000, was the largest ever pan-African Fund Before EMP, he worked in IFC’s investment department covering financial institutions in Africa between 1996 and 2000 and helped launch several landmark funds in Africa. Papa spent the early part of his career on Wall Street at Salomon Brothers and later joined JP Morgan’s Emerging Markets Group in 1992. In 1994, he launched JP Morgan’s securities trading in Africa and the Middle East

In 2000, Papa was named Special Advisor for Economic and Financial Affairs to the President of the Republic of Senegal and Chairman of the Senegalese Presidential Economic & Financial Advisory Council. In the same year, he launched MIDROC BVI, a direct investment vehicle for Sheikh Mohammed Al-Amoudi, a lead investor in the AIG African Infrastructure Fund

He holds an M.B.A. degree from the Wharton School of Business, an M.A. in International Affairs from the University of Pennsylvania’s Lauder Institute, and a B.A. in economics from Harvard College. In 2004, he was selected as a “Young Global Leader” by the World Economic Forum of Davos and then as one of the ‘’Frontier 100 CEOs’’ of the Initiative for Global Development in 2009.
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Patrice Backer
Co-Founder

Patrice Backer is a Partner and the Chief Investment Officer of AFIG Funds. He is responsible for managing all aspects of the investment process, including the sourcing of deals, transaction execution, portfolio monitoring, and exiting. Patrice also takes a leading role in investor relations and fundraising. Patrice is a director of the following companies: FSDH Merchant Bank, FSDH Capital, PAL Pensions (Nigeria); Tecnicil Indústrias (Cape Verde); and SOPROICAM (Cameroon.) He is a member of AFIG Funds’ Investment Committee

Prior to AFIG Funds, Patrice headed PromoCapital Haiti S.A., a transnational investment firm, where he led several
investment banking transactions. Patrice began his Wall Street career in 1993in JP Morgan’s Latin America M&A Group before joining the bank’s Emerging Markets Sales & Trading Group where he co-managed the Credit Derivatives Desk and became the head of the Finance Desk, a USD 7 billion portfolio of debt securities

Patrice is a graduate of the University of Pennsylvania, where he obtained a joint MBA from the Wharton School and an MA from the School of Arts and Sciences in 1993. He is a Fellow of the Lauder Institute Global MBA program. He graduated from Harvard College in 1988 with a bachelor’s degree in Engineering Sciences.
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