Building on the recent $30 million commitment from EIB Global, Seedstars Africa Ventures has secured an additional $10.5 million in funding from the African Development Bank (AfDB). This investment will further empower the fund to support high-growth startups across the African continent, addressing critical challenges and fostering economic development.
The AfDB’s contribution, comprising $7 million from its own resources and $3.5 million from the European Union’s Boost Africa program, reflects a shared commitment to fostering entrepreneurship and job creation in Africa. This investment aligns with the AfDB’s Jobs for Youth in Africa Strategy, aiming to create approximately 9,000 full-time jobs, with a significant focus on women’s empowerment.
Seedstars Africa Ventures, a leading early-stage venture capital fund, has been actively investing in and supporting high-growth companies across sub-Saharan Africa since 2020. With a focus on companies addressing significant market challenges and demonstrating strong revenue growth potential, the fund has already invested in over 25 companies across diverse sectors.
This latest investment from the AfDB further solidifies Seedstars Africa Ventures’ position as a key player in the African startup ecosystem. By providing crucial capital and support to promising ventures, the fund is contributing significantly to the continent’s economic growth and fostering a more inclusive and prosperous future for all Africans.
