TLDR:
- EIB Global has made a $30 million investment in Seedstars Africa Ventures I, a venture capital fund for innovative businesses and startups across Africa.
- The investment is backed by the European Union and will boost sustainable jobs and prosperity through venture capital for African entrepreneurs.
The European Investment Bank (EIB) has made a $30 million investment in Seedstars Africa Ventures I, a venture capital fund aimed at providing risk capital to innovative businesses and startups across Africa. The fund was created in partnership with Seedstars, a global organisation that invests in entrepreneurs from emerging markets, and LBO France, an investment platform that seeded the initiative. The investment is backed by the European Union, with $20 million coming from the ACP Trust Fund and $10 million from the Boost Africa programme, fully deploying the latter programme. Seedstars Africa Ventures I expects to reach a first close early this year and has already completed four transactions.
