The fund was formally announced during the BimaLab Africa Insurtech Summit 2025, held on November 26–27 in Nairobi.

Designed as a pan-African fund, 3iF will focus on early-stage insurtech ventures that aim to widen insurance coverage.

Particular emphasis will be placed on firms working in climate resilience, healthcare and financial inclusion, especially among underserved and low-income populations.

The fund builds on the success of the BimaLab Africa Accelerator Programme, which to date has supported more than 135 startups across 28 African countries, helping them develop tech-enabled insurance solutions and improve access for vulnerable groups.

However, many promising startups have struggled to scale due to a lack of growth capital, a gap that 3iF intends to fill.

Set to begin operations in January 2026, the 3i Fund will use a blended financing model.

It will combine junior equity from catalytic investors, anchored by FSD Africa’s investment arm, FSD Africa Investments (FSDAi), with senior equity from commercial and strategic investors, led by reinsurance firm Zep Re.

The fund will extend growth capital not only to successful graduates of BimaLab, but also to other promising insurtech ventures across Africa.

Kelvin Massingham, Director of Adaptation and Resilience at FSD Africa, said the fund represents a bold new phase for insurance innovation on the continent.

“By investing in the next generation of insurtech pioneers,” he said, “we aim to expand access, affordability and resilience, unlocking opportunities for millions across Africa.”

In addition to the fund, summit participants were introduced to a new resource — the Regulatory Sandbox Eligibility Assessment Toolkit.

The toolkit is designed to help insurance regulators across African countries better assess the potential economic and social impacts of new insurtech solutions.

It aims to simplify and harmonize regulatory approvals, enabling startups to test and deploy products under sandbox frameworks — thus lowering regulatory barriers and expanding insurance access for informal workers, rural communities, smallholder farmers and low-income households.