EIB Global makes $30m investment in Seedstars Africa VC fund for innovative entrepreneurs
- EIB Global has made a US$30 million equity investment in Seedstars Africa Ventures I.
- Seedstars Africa Ventures I was created by Maxime Bouan, Tamim El Zein, and Bruce Nsereko Lule.
- The US$30 million investment is backed by the EU, through US$20 million from the ACP Trust Fund and US$10 million from the Boost Africa program.
The investment by EIB Global in Seedstars Africa Ventures I is a positive development for the African startup ecosystem. It provides much-needed risk capital for innovative businesses and startups in the region, supporting job creation and economic growth. The backing from the EU demonstrates the recognition and relevance of Seedstars Africa Ventures I's investment thesis and their effective support to portfolio companies.
