You are here
Project Summary Note - Africa Technology Ventures Fund (ATV) - Multinational
Africa Tech Ventures (“the Fund”) is a new venture capital fund targeting tech start-ups and early stage innovative SMEs operating mainly in East Africa. Target size is US$ 50m with a first close at US$35m. The Fund intends to also invest, through syndication, in businesses from Western and Southern Africa that plan to scale up in East Africa and vice versa. The Fund’s objective is to reach a first closing by Q2 2019 and a final closing latest 12 months thereafter. ATV targets opportunities in key sectors that represent significant opportunity for improved livelihoods, and to which mobile and technology enabled businesses and innovative business models can add substantial value. The Fund will take significant minority stakes with ticket size from USD 100,000 to USD 5m through multiple rounds (seed to growth) in potentially fast growing, scalable and disruptive businesses.