Seedstars Africa Ventures Launches New $30 Million Fund to Boost Startup Ecosystem in Africa
- Seedstars Africa Ventures secures $30 million capital injection from EIB Global.
- The fund aims to address funding gaps in regions outside of Egypt, Kenya, Nigeria, and South Africa.
- Seedstars Africa Ventures intends to make initial investments ranging from $250,000 to $2 million and is open to providing follow-on funding of up to $5 million for as many as 30 startups.
The investment of $30 million in Seedstars Africa Ventures is a significant milestone for the venture firm's pan-African capital fund. It addresses the funding gaps in regions outside of the well-established quartet of Egypt, Kenya, Nigeria, and South Africa and provides operational and business support to founders. With a positive sentiment and a focus on diverse sectors, the fund has the potential to boost the startup ecosystem in Africa.
