New Investments
Seedstars Africa Ventures Secures $30 Million From EIB Global to Back African Startups
European Investment Bank (EIB) Global has injected $30 million into Seedstars Africa Ventures I, a venture capital fund empowering African startups and businesses through risk capital.
This significant investment signals a major step forward for innovation and sustainability on the continent.
Seedstars Africa Ventures, the brainchild of Maxime Bouan, Tamim El Zein, and Bruce Nsereko Lule, collaborates with global entrepreneurship supporter Seedstars and multi-specialist investment platform LBO France.
Seedstars Africa Ventures, the brainchild of Maxime Bouan, Tamim El Zein, and Bruce Nsereko Lule, collaborates with global entrepreneurship supporter Seedstars and multi-specialist investment platform LBO France.
This partnership has now received a hefty boost from EIB Global, solidifying its commitment to development finance and impactful international partnerships.
EIB Global’s contribution comes from two EU programs: €20 million from the ACP Trust Fund and €10 million from the Boost Africa initiative.
EIB Global’s contribution comes from two EU programs: €20 million from the ACP Trust Fund and €10 million from the Boost Africa initiative.
With this investment, Boost Africa, launched in 2016 with the aim of fostering sustainable jobs and prosperity through African entrepreneurship, has successfully fulfilled its mission.
“Empowering innovation and digitalization is key to Africa’s economic future,” stated EIB Vice President Ambroise Fayolle.
“Empowering innovation and digitalization is key to Africa’s economic future,” stated EIB Vice President Ambroise Fayolle.
“African entrepreneurs are the continent’s driving force, creating jobs, reducing inequality, and improving lives. The EIB, as part of Team Europe, is proud to support such ventures through Boost Africa and the ACP Trust Fund.”
Seedstars Africa Ventures, headquartered in Nairobi and Paris, welcomed the investment as a strong validation of their vision and efforts.
Seedstars Africa Ventures, headquartered in Nairobi and Paris, welcomed the investment as a strong validation of their vision and efforts.
“The EIB’s commitment demonstrates the strength of our investment strategy and the impact we create across Africa,” the fund said.
“This recognition will attract further investors, both African and international, helping us reach our target of €80-€100 million.”
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