- New venture capital investment to support African tech-start-ups
- Atlantica Ventures latest specialist innovation financing partner to benefit from Boost Africa
- Support for African start-ups unveiled at EU-Africa Business Forum
Venture capital investment in innovative and technology driven companies across Africa will be enhanced by over USD 11.3 million (c. EUR 10m) in junior capital from Boost Africa and USD 12.5m (c. EUR 11m) in senior capital European Investment Bank backing for start-up fund Atlantica.
Atlantica Ventures is the latest African investment partner to benefit from the Boost Africa initiative.
“The European Investment Bank is committed to improving access to finance by innovative companies across Africa and around the world. The EIB’s new partnership with Atlantica Ventures will scale up specialist financing for technology and technology-enabled companies across Africa to ensure that technology can contribute to delivering inclusive and sustainable growth.” Said Thomas Östros, European Investment Bank Vice President.
“Atlantica Ventures is delighted to announce that it reached over USD 50 million in commitments, anchored by EIB and Boost Africa. We will continue engaging further investors till final close. We believe that the start-up ecosystem benefits from venture capital funds that are dedicated to Africa and can contribute their know-how and experience to support the growth of start-ups. Such funds benefit from investors that have a belief not only in the fund managers but also in the potential of the market. EIB and Boost Africa have demonstrated that belief by their support of Atlantica Ventures, and we look forward to the partnership and joint effort to transform and uplift the African tech ecosystem.” Said Ik Kanu, co-founder of Atlantica Ventures
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