EIB considers investment in startup fund

The European Investment Bank has disclosed a proposed equity participation of up to $20 million into Seedstars Africa Ventures 1, a closed-ended venture capital fund focusing on sub-Saharan Africa (primarily West and East Africa) and to a lesser extent on North Africa.

The fund focuses on investments into high-growth small and medium sized enterprises (SMEs) leveraging digital technologies to deliver services across sectors. 

Seedstars Africa Ventures 1 has a target size of $80 million.