Singapore-headquartered AAIC Investment reached an undisclosed first close for Africa Innovation & Healthcare Fund. The vehicle has a USD150m target and primarily invests in startups in healthcare and fintech across Africa. Read more… Read More
Afriex, a Nigeria-based developer of a blockchain-based payments platform, raised USD10m from Dragonfly Capital, Sequoia Capital and Stellar. Read more… Read More
Acumen Resilient Agriculture Fund and FMO led a USD6.4m pre-Series A for Ghana-based agtech Farmerline, with participation from Greater Impact Foundation. The company also raised USD6.5m in debt from DEG, Rabobank, Ceniarth, Rippleworks, Mulago Foundation, Whole Planet Foundation, the Netri Foundation and Kiva. Read more… Read More
BluePeak Private Capital agreed to invest up to USD15m in Africure, a pan-African manufacturer and distributor of pharmaceutical goods serving East and West Africa. Read more… Read More
Futuregrowth Asset Management, through its Futuregrowth Development Equity Fund, led a USD5.3m seed round for South Africa-based foodtech Inseco, with participation from E4E Africa and Oak Drive Ventures. Read more… Read More
The African Development Bank Group committed EUR9.8m (~USD10.6m) to Cathay AfricInvest Innovation Fund to support seed-to-growth stage investments in African startups. Read more… Read More
4DX Ventures, Nuwa Capital and Shorooq Partners led a USD4.5m round for Egypt-based cloud kitchen platform The Food Lab. Read more… Read More
The 2022 Data Insights feature data and analysis on private capital activity in India, Southeast Asia and Africa through year-end 2021. This year, members also have access to LAVCA’s 2022 Industry Data & Analysis on private capital activity in Latin America, as well as the underlying data in… Read More
Tiger Global led a USD12m seed round for Zambia-based card issuer Union54, with participation from Vibe VC, Earl Grey Capital and Not Boring Capital. Read more… Read More
XSML reached a USD85m final close for African Rivers Fund III, exceeding its initial target of USD75m. The fund will provide debt, equity and mezzanine financing to fast-growing SMEs in Central Africa. Read more… Read More
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