
African Startups Invited to Apply for Harvard’s New Venture Competition
African startups have been invited to apply for the prestigious New Venture Competition organized by Harvard Business School’s Africa Business Club.
DEG, the German development finance institution, has increased its investment in Mediterrania Capital IV Mid-Cap by an additional €15 million.
This move strengthens its long-standing partnership with Mediterrania Capital Partners and reaffirms its commitment to promoting sustainable private sector growth across North and West Africa.
Mediterrania Capital IV focuses on supporting mid-sized, high-potential companies across key sectors such as healthcare, education, and consumer goods.
With this increased backing from DEG, the fund is expected to enhance its impact by driving job creation, improving local business performance, and contributing to long-term economic stability in the region.
So far, it has helped create over 1,500 new jobs, contributing to the UN’s Sustainable Development Goal on Decent Work and Economic Growth.
Beyond capital investment, DEG is also actively involved in providing advisory support to Mediterrania and its portfolio companies.
Through its subsidiary, DEG Impulse, the institution delivers customized Business Support Services (BSS).
These services help businesses lower their CO₂ emissions, boost energy efficiency, and adopt renewable energy solutions.
The goal is to strengthen the climate resilience of local companies and promote environmentally responsible growth.
Mediterrania Capital IV also qualifies under the 2X Challenge, an international initiative that encourages investments promoting gender equality.
As part of this, the fund is implementing practical strategies to advance women’s participation and leadership within its portfolio companies.
This latest investment reflects DEG’s integrated approach—combining finance and technical assistance to build a stronger, more inclusive, and climate-conscious private sector in Africa.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
African startups have been invited to apply for the prestigious New Venture Competition organized by Harvard Business School’s Africa Business Club.
Lapaire, the African eyewear startup providing stylish and affordable glasses to the continent, is scaling up its vision with a fresh $3 million investment.
The Janngo Capital Startup Fund (JCSF), a venture capital fund focused on Africa, has secured €4 million (US$4.3 million) in equity investments from ANAVA, Tunisia’s first euro-denominated fund of funds.
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