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.