Release date: 24 January 2018
Promoter – Financial Intermediary
SPECIAL PURPOSE ENTITY(IES)/FUND
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.
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
- Services - Financial and insurance activities
Proposed EIB finance (Approximate amount)
EUR 10 million
Total cost (Approximate amount)
EUR 41 million
The fund's operational guidelines provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.
Approved - 15/03/2018
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).