Release date: 24 July 2023
Promoter – Financial Intermediary
SEEDSTARS AFRICA VENTURES INVESTMENT MANAGEMENT SASLocation
Description
The operation consists of an equity participation in the junior tranche of Seedstars Africa Ventures 1, a closed-ended venture capital fund investing into high-growth small and medium sized enterprises (SMEs). In detail, the fund focuses on SMEs leveraging digital technologies to deliver services across sectors in Sub-Saharan Africa, primarily West and East Africa, and to a lesser extent, North Africa.
Objectives
The aim is to support job creation, digitalisation and private sector development, by increasing access to risk capital to local high-growth SMEs. The fund will invest into a diversified portfolio of companies, supporting the value creation of the underlying investees through a hands-on management approach. It will also enhance their Environmental, social, and governance (ESG) standards.
Sector(s)
Proposed EIB finance (Approximate amount)
USD 10 million (EUR 9 million)
Total cost (Approximate amount)
USD 80 million (EUR 75 million)
Environmental aspects
The Fund will operate in line with the EIB's environmental and social standards.
Procurement
N/A
Status
Approved - 12/09/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).