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    Reference: 20160758
    Release date: 24 January 2018

    Promoter – Financial Intermediary

    SPECIAL PURPOSE ENTITY(IES)/FUND

    Location

    Description

    The project consists of an equity participation in Africa Technology Ventures, a USD 50m venture capital fund focusing on high potential innovative technology-based startups in Sub-Saharan Africa.

    Objectives

    The fund aims to generate a substantial return on investment for its investors coupled with a significant developmental impact, given: • its focus on businesses providing innovative and affordable solutions for the base of the pyramid • its potential to create quality jobs • its provision of seed and early stage financing to African companies • its technical support to innovative businesses

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    EUR 10 million

    Total cost (Approximate amount)

    EUR 41 million

    Environmental aspects

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

    Procurement

    Not applicable.

    Status

    Approved - 15/03/2018

    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).

    Related tags

    Regional - East Africa Services