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Today: May 21, 2024
January 10, 2024
1 min read

Powering Pan-African Startups: Seedstars Africa Ventures Secures $30M From EIB




TLDR:

Seedstars Africa Ventures has received a $30 million capital commitment from European Investment Bank’s EIB Global. The venture capital fund is focused on supporting African founders and plans to distribute the funding to Seed and Series A startups. The fund aims to lessen capital gaps on the African continent, provide operational and business support to tech entrepreneurs, and invest in founders who create jobs and boost economies. Seedstars Africa Ventures will make an initial investment of around $250,000 to $2 million to 30 startups and provide up to $5 million in follow-on funding. The fund also plans to invest 50% of the fund in Francophone African countries. Before this investment, Seedstars Africa Ventures received $8 million from LBO France.

Key Elements:

  • Seedstars Africa Ventures has received a $30 million capital commitment from European Investment Bank’s EIB Global.
  • The venture capital fund is focused on supporting African founders and plans to distribute the funding to Seed and Series A startups.
  • Seedstars Africa Ventures aims to lessen capital gaps on the African continent, provide operational and business support to tech entrepreneurs, and invest in founders who create jobs and boost economies.
  • The fund will make an initial investment of around $250,000 to $2 million to 30 startups and provide up to $5 million in follow-on funding.
  • The fund plans to invest 50% of the fund in Francophone African countries such as Cameroon, Ivory Coast, and the Democratic Republic of Congo.
  • Seedstars Africa Ventures previously received $8 million investment from LBO France.

Seedstars Africa Ventures has closed on a $30 million capital commitment from the European Investment Bank’s EIB Global. This is the first major institutional investment for the venture capital fund, which aims to invest in Pan-African-founded startups. The fund plans to distribute the funding to Seed and Series A startups, in order to lessen capital gaps on the African continent and provide support to tech entrepreneurs. Seedstars Africa Ventures aims to invest in founders who create jobs and boost economies.

Seedstars Africa Ventures plans to close their fund at up to $100 million. They will make an initial investment of around $250,000 to $2 million to 30 startups, along with providing up to $5 million in follow-on funding. The fund also plans to invest 50% of the fund in Francophone African countries such as Cameroon, Ivory Coast, and the Democratic Republic of Congo.

Seedstars Africa Ventures focuses on several sectors including education, healthcare, utilities, and enhancing goods, services, and efficiency. The fund also invests in innovative brick-and-mortar businesses that benefit from digitalization. Before receiving the $30 million investment from EIB Global, Seedstars Africa Ventures received $8 million from LBO France and led a $2.7 million seed round for U.S. and Nigeria-based utility company Beacon.


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