Author: Fred Kennedy

FSD Africa has unveiled a US$30 million venture fund, the Inclusive Insurtech Investment Fund (3iF), aimed at inviting more private capital into the continent’s insurtech industry.

The African Development Bank (AfDB) has approved a $15 million equity injection into Adenia Entrepreneurial Fund 1 (“AEF 1”), a private-equity vehicle managed by Adenia Partners.

Kenya-based SME lender Jackfruit Network secured a US$5 million financing facility backed by TLG Capital and the IDP Foundation.

Chui Ventures, the pan-African early-stage venture capital firm with a gender-inclusive investment philosophy, has closed its maiden Fund I at US$17.3 million, comfortably surpassing its initial target of US$10 million.

Cairo-based HR tech startup Bluworks has raised $1 million in a seed funding round to support its expansion across Egypt and into the broader Middle East and North Africa (MENA) region.

South Africa’s state-owned asset manager, the Public Investment Corporation (PIC), has committed $30 million to a private-credit vehicle run by the Africa-focused alternative investment firm Enko Capital.

South African climate-technology firm Plentify has successfully closed a Series A funding round, adding new momentum to its mission of smarter home energy management as it sets its sights on international markets.