Search En menu ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

    Signature(s)

    Amount
    € 11,088,441.41
    Countries
    Sector(s)
    ACP States : € 11,088,441.41
    Services : € 11,088,441.41
    Signature date(s)
    20/12/2021 : € 11,088,441.41

    Summary sheet

    Release date
    21 October 2020
    Status
    Reference
    Signed | 20/12/2021
    20200617
    Project name
    Promoter - financial intermediary
    ATLANTICA VENTURE CAPITAL FUND
    SPECIAL PURPOSE ENTITY(IES)/FUND
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    USD 12 million (EUR 10 million)
    USD 50 million (EUR 41 million)
    Location
    Sector(s)
    Description
    Objectives

    The proposed operation consists of an equity participation of up to USD 12.5m in Atlantica Venture Capital Fund, a USD 50m target venture capital fund focusing on small and medium-sized enterprises (SMEs) with a high growth potential (start-ups) and active in the digital and technology sectors in sub-Saharan Africa.

    The proposed operation consists of a participation in Atlantica Venture Capital Fund, a new closed-end venture capital fund targeting start-ups in the digital and technology sectors in six sub-Saharan African countries including, among others, Nigeria, Kenya, Tanzania and Côte d'Ivoire. The fund's strategy is to generate returns through an active hands-on approach in the FinTech, logistics, agribusiness, Internet of Things (IoT), e-commerce and cybersecurity sectors. The team will seek to create value through an active management approach leveraging their data scientist team to drive the growth and profitability of portfolio companies while building capacity in terms of management, corporate governance as well as environmental and social standards.

    Environmental aspects
    Procurement

    The fund's operational guidelines provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.

    N/A

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

    Media enquiries

    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

    Related publications