IFC invests in Antler East Africa fund
To support the growth of East Africa’s technology startups, the IFC announced an investment in the Antler East Africa fund. Antler is an early-stage venture capital fund, focused on developing the next generation of tech leaders.
IFC’s $1.5 million investment in Antler East Africa, along with $500,000 from the Women’s Entrepreneurs Finance Initiative, or We-Fi, will support the company’s new incubator programme that launches in March and includes a focus on supporting women entrepreneurs.
Antler will provide a support network including personalised coaching, workspace, and training to startup founders accepted into the programme. The programme will support teams who have an idea and want to turn it into a business, as well as early-stage startup teams looking to grow and raise capital. Through the incubator programme, Antler plans to make 35 new investments in early-stage startups over the next three years.
“We know what it takes to get a startup off the ground and want to build a flexible support system that enables strong collaboration and interaction between fellow entrepreneurs, advisors, angel networks, and investors in Kenya and beyond. Our goal is to connect and fast-track the initial stages of the entrepreneurial journey,” said Marie Nielsen, partner at Antler East Africa.
“Africa’s digital economy is growing and it is critical that our investments and partnerships empower more entrepreneurs to tap into this growth. By supporting Antler, we can help entrepreneurs in East Africa, including women, to bring their ideas to life or take their startups to the next level, contributing to the region’s digital transformation,” said Jumoke Jagun-Dokunmu, IFC regional director for Eastern Africa.
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