TLDR:
- Seedstars Africa Ventures has secured a $30 million investment to boost the startup ecosystem in Africa.
- The funding is the first significant institutional investment for the pan-African capital fund, which aims to support seed and Series A startups.
Seedstars Africa Ventures has received a $30 million injection of capital from EIB Global, connected to the European Investment Bank. This investment marks a significant milestone for the venture firm’s inaugural pan-African capital fund. The funds will be used to support seed and Series A startups, providing follow-on funding up to Series B. Seedstars Africa Ventures aims to address the critical capital gap faced by startups beyond the acceleration stage and offer various funding opportunities tailored to the maturity levels of entrepreneurs. The firm also plans to provide hands-on support to portfolio companies and help them access Seedstars’ resources and networks. The fund has a sector-agnostic approach but focuses on startups that address fundamental needs such as education, healthcare, and utilities. Seedstars Africa Ventures intends to allocate up to 50% of the fund to Francophone Africa due to lower competition and attractive deals in the region.
