The new fund, which is targeting a total capital raise of $85 million with a hard cap of $100 million, aims to provide crucial early-stage investment to startups across North, West, and East Africa.

Flat6Labs has positioned itself as a key player in accelerating startup growth in these regions, offering funding, mentorship, and business development support to emerging companies.

A significant portion of the fund—49%—will be allocated to Egyptian startups, reinforcing Egypt’s role as a leading hub for innovation and entrepreneurship in Africa.

This strategic focus aligns with Flat6Labs’ ongoing efforts to stimulate local economies by empowering high-potential startups with the necessary resources to scale.

IFC’s Ongoing Partnership with Flat6Labs

The proposed investment marks IFC’s fourth financial commitment to Flat6Labs, following its participation in three previous funds managed by the firm.

This long-standing partnership highlights IFC’s confidence in Flat6Labs’ ability to identify and nurture promising startups that contribute to economic development and job creation.

As the private sector arm of the World Bank Group, IFC has been actively involved in supporting high-growth startups across emerging markets.

Its latest backing of Flat6Labs aligns with broader efforts to address the financing gap that many early-stage companies face in Africa, particularly those operating in technology-driven sectors with the potential for significant economic impact.

Strengthening Africa’s Startup Ecosystem

Flat6Labs’ latest fund comes at a time when African startups are increasingly attracting global attention, despite challenges such as limited access to capital and economic volatility.

The firm has a proven track record of successfully launching and managing startup accelerator programs, equipping founders with the skills, mentorship, and capital necessary to scale their ventures.

Flat6Labs aims to bridge the funding gap that often hinders early-stage startups from achieving sustainable growth.

The fund’s regional strategy, encompassing North, West, and East Africa, reflects the growing investor interest in African markets as hubs for technological innovation and entrepreneurship.