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- Services - Activités financières et d'assurance
The operation consists in an equity participation in a venture capital fund, which presents a strategic opportunity to partner with Team Europe Development Finance Institutions (DFIs ) and private investors to support one of the EU's most reputable fund managers in expanding its geographic footprint to the Southern Neighbourhood and Sub-Saharan Africa. T The operation will foster private sector development and accelerate the digital transition, enhancing connectivity and unlocking new commercial opportunities both between Europe and Africa and within the African continent.
The Fund is expected to improve access to long-term finance, the business environment and the resilience of start-ups and small, medium-sized enterprises (SMEs) in Africa. It is also expected to facilitate cross-border synergies for technology development, implementation and trade within targeted regions and with Europe. The Fund will contribute to the digitalisation of businesses such as payments, lending, banking, accounting, insurance as well as fintech-enabled verticals such as marketplaces, health, education and software as a service (SaaS).
The operation concerns an equity investment in Speedinvest Africa Fund, a new venture capital fund which invests in SMEs (including start-ups) utilising financial technologies (fintech) for the digitalisation of businesses in various sectors in North and Sub-Saharan Africa, making this operation aligned with European Union's Global Gateway strategy.
The operation is expected to contribute the development of the private sector and creation of jobs. Besides providing better access to finance, the experienced Fund Manager will disseminate best practices to Africa's venture capital ecosystem via knowledge sharing, improving the business environment and the resilience of local start-ups and SMEs, facilitating cross-border synergies for technology development, implementation and trade within Africa and between Europe and Africa.
The EIB will be involved in structuring the proposal in line with most recent market standards for international private equity and venture capital funds. The EIB is expected to negotiate terms that are anticipated to optimise the fund's commercial profile and strengthen alignment of interest with all its investors.
The EIB's commitment at the first closing of the Fund is anticipated to support the fund raising and catalyse other investors in an overall difficult fundraising environment in emerging markets.
The Fund will operate in line with the EIB Group Environmental and Social Sustainability Framework.
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