DGGF joins First Circle Africa Fund I as limited partner
Female-led manager targets early-stage fintech across Africa.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
First Circle Capital has added the Dutch Good Growth Fund as a limited partner in its First Circle Africa Fund I.
First Circle Capital is a female-led, Africa-based venture capital firm focused on early-stage fintech opportunities across the continent. The manager is targeting a Fund I size of $30 million.
First Circle Capital said it is backing the growth of Africa’s fintech market, which it projects will reach $65 billion by 2030, implying a 32% compound annual growth rate.
The manager said it has made 16 investments across eight markets to date. It added that 30% of its portfolio companies are female-led, and 50% operate in at least two countries.
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now