IFC to invest $6 million in African Startup Fund

IFC to invest $6 million in African Startup Fund

IFC to invest $6 million in African Startup Fund

The International Finance Corporation (IFC) plans to invest $6 million in equity in a Pan-African fixed-capital venture fund aimed at early-stage technology companies across various sectors on the continent. This initiative was recently announced by the institution.

Named the “Lofty Alpha Fund” and managed by Nigerian venture capital firm LoftyInc Capital Management, the fund will primarily finance young tech startups throughout Africa. Its goal is to improve their access to venture capital funding, drive innovation, and support technological development in Africa by providing financial resources and guidance to startups in their early stages.

For more information, please see https://www.ecofinagency.com/finance/2001-46344-ifc-to-invest-6mln-in-african-startup-fund

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