AfDB commits $10.5m to Seedstars Africa Ventures
Seedstars Africa Ventures is an early-stage venture capital fund.
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The African Development Bank (AfDB) has committed $10.50 million to Seedstars Africa Ventures, an early-stage venture capital fund investing in high-growth companies active across sub-Saharan Africa.
The AfDB agreed to invest $7 million from its ordinary resources and $3.5 million from the European Union Boost Africa programme.
The fund mainly targets sub-Saharan Africa, especially markets less well covered by traditional investors, with a particular focus on French-speaking countries such as Senegal, Côte d’Ivoire, Benin and Cameroon. However, it also has investments in Ghana, Uganda and Tanzania.
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