IFC proposes investment in Africa-focused VC fund
The IFC has disclosed a proposed equity investment of up to $6 million in the Lofty Alpha Fund.
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The International Finance Corporation (IFC) has disclosed a proposed equity investment of up to $6 million in the Lofty Alpha Fund, a closed-end pan-African venture capital vehicle targeting seed stage technology-enabled businesses across sectors.
The fund, managed by LoftyInc Capital Management, has a target size of $50 million and will be domiciled in the United States of America.
The fund will invest across the African continent.
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