TLDR:
Seedstars Africa Ventures has closed a $30 million capital commitment from EIB Global to invest in early-stage African startups. The fund targets $80-$100 million and will provide funding, operational support, and invest in companies addressing basic needs. The fund has already invested in four businesses in Kenya and Nigeria.
Paris- and Nairobi-based VC firm, Seedstars Africa Ventures, has closed a $30 million capital commitment from EIB Global, marking the first major institutional investment for its first pan-African venture capital fund. The fund targets between $80 and $100 million and aims to back seed and series A startups, extending to up to Series B in follow-on investments. Supported entrepreneurs will access Seedstars tools, networks, and visibility.
The fund intends to bridge funding gaps in regions beyond Egypt, Kenya, Nigeria, and South Africa and to provide operational and business support to founders. It plans to invest up to 50% of the fund in Francophone Africa, a region with lower competition and market opportunity. Notable initial investments include Poa Internet, Beacon, Shamba Pride, and Bizao.
Seedstars Africa Ventures’ goal is to provide capital well-suited to the needs of African entrepreneurs and to accelerate investments in early-stage startups. The firm has also invested in 26 companies in Africa through its Seedstars International Ventures Funds I and II. Overall, the fund aims to strengthen the continuum of capital available to entrepreneurs in Africa.
