AfricaWorks Investment Partners announced plans to launch its second investment vehicle targeting 10 million euros as it expands urban real estate operations across West African economic hubs following the successful closure of its inaugural fund.
The Paris based investment platform confirmed today it has deployed all capital raised through its first vehicle into two properties in Dakar and Lagos. AfricaWorks Investment Partners (AWIP) now prepares to close AWIP II in the second quarter of 2026, building on momentum from raising four million euros in under three months during summer 2025.
Founded in 2025 by Grégoire Schwebig and Anthony Anziani, the platform represents an extension of the AfricaWorks coworking model established in 2019. AWIP focuses on acquiring underutilized urban assets and converting them into mixed use buildings that combine office space, coliving accommodations, hospitality services, and amenities operated directly by AfricaWorks.
The investment strategy targets properties of approximately 5,000 square metres located primarily in Abidjan and Dakar, while maintaining flexibility to pursue opportunities in other high potential markets. AWIP II aims to develop between four and five real estate assets, creating what the founders describe as a coherent portfolio of benchmark urban properties across the region.
Schwebig emphasized that operational expertise differentiates the platform from traditional real estate investment approaches. AfricaWorks currently operates more than 25,000 square metres of workspace across seven African cities, supporting over 1,000 corporate clients including IBM, TikTok, L’Oréal, Paystack, Universal Music, Nokia, MasterCard, the Gates Foundation, and United Nations agencies.
“From the outset, AfricaWorks was built as an operational platform, close to the needs and realities of the companies we support every day,” Schwebig stated. “With AWIP, we invest only in assets that we know how to operate, improve and upgrade over time, through a disciplined approach rooted in the realities of African markets.”
The platform’s model reduces execution risk by ensuring alignment between investment decisions, operational management, and long term value creation. This integrated approach addresses what AWIP identifies as growing demand for flexible, professionally operated spaces in markets experiencing rapid urbanization.
AWIP I attracted capital from leading private investors who backed the platform’s thesis that combining real estate acquisition with proven operational capabilities would deliver returns aligned with international standards. The swift fundraising timeline and full deployment of capital into off market transactions validated the investment framework and governance structures implemented by Schwebig and Anziani.
West African property markets have witnessed increased investor attention as urban populations expand and demand for commercial real estate evolves. Traditional office leasing arrangements often require lengthy commitments and substantial upfront payments, creating barriers for growing businesses and multinational corporations establishing regional operations.
AfricaWorks addresses this gap through flexible workspace solutions that eliminate capital expenditure requirements for furniture, equipment, and facility management. The company’s spaces feature fully furnished offices, high speed internet connectivity, uninterrupted power supply, meeting facilities, and communal amenities designed to foster productivity and collaboration.
The coworking operator has expanded significantly since launching its first 800 square metre space in Abidjan during August 2019. AfricaWorks now maintains presence in Abidjan, Accra, Cape Town, Dakar, Johannesburg, Lagos, and Lusaka, with more than 20 locations either operational or under development across these cities.
This operational footprint provides AWIP with market intelligence and tenant relationships that inform acquisition decisions and repositioning strategies. The platform identifies properties that can be transformed into mixed use developments serving both corporate clients seeking office solutions and individuals requiring temporary or extended stay accommodations.
Schwebig previously founded Haussmann Africa, a corporate real estate company that designed custom offices for companies including Uber, L’Oréal, and Total. His experience in African property markets informed the development of AfricaWorks and subsequently the creation of AWIP as a dedicated investment vehicle.
The Financial Times recognized AfricaWorks as one of Africa’s fastest growing companies in 2025, ranking the operator fifth overall based on revenue expansion between 2019 and 2022. The company reported revenue growth exceeding 3,500 percent during that measurement period, establishing it as the only coworking provider among top tier performers.
AWIP’s focus on Abidjan and Dakar reflects both cities’ positions as significant commercial centres within West Africa. Abidjan serves as the economic capital of Côte d’Ivoire and remains the region’s most populous French speaking city, while Dakar functions as Senegal’s capital and a major Atlantic port connecting West Africa to international markets.
The platform’s investment discipline emphasizes acquiring properties below replacement cost that can be repositioned through modest capital improvements and professional management rather than extensive redevelopment. This approach aims to generate stable cash flows while building long term asset value in markets where high quality commercial real estate remains scarce.
Anziani brings experience from previous roles to the investment partnership, complementing Schwebig’s operational expertise with financial structuring and capital markets knowledge. Together they have established governance frameworks intended to protect investor capital while pursuing growth opportunities across target markets.
The second vehicle’s 10 million euro target represents meaningful growth from AWIP I while maintaining a scale that allows selective asset acquisition and hands on management. The platform expects demand from returning investors alongside new participants attracted by the demonstrated ability to source off market opportunities and execute repositioning strategies.
AWIP positions itself within broader trends reshaping African commercial real estate, including increased adoption of flexible workspace solutions, growing presence of multinational corporations, and evolving expectations around building quality and amenity provision. The platform’s integration of investment and operations represents an attempt to capture value across multiple dimensions of the real estate lifecycle.
The planned second quarter 2026 closing for AWIP II aligns with the platform’s pipeline development and operational capacity to manage additional properties. Schwebig and Anziani have indicated they will continue expanding the AfricaWorks footprint while deploying AWIP capital into complementary real estate assets that strengthen the overall platform.
