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Seedstars Africa Ventures has secured a US$30 million equity investment from European Investment Bank (<a href="https://www.eib.org/en/index" data-type="URL" data-id="https://www.eib.org/en/index" target="_blank" rel="noopener">EIB</a>) Global, enhancing support for innovative businesses and start-ups across Africa. 
The venture capital fund, led by Maxime Bouan, Tamim El Zein, and Bruce Nsereko Lule, aims to boost access to risk capital for companies focusing on digital technologies, particularly in education, healthcare, and utilities. 
EIB Vice-President, Ambroise Fayolle emphasized the importance of encouraging innovation and digitalization to foster strong and sustainable economies in Africa. In his words, *Encouraging and promoting innovation and digitalisation is crucial to developing strong and sustainable economies.” 
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Seedstars Africa Ventures is part of Team Europe’s commitment to supporting African businesses, contributing to job creation and reducing inequality. The fund, anchored by the European Investment Bank, <a href="https://www.lbofrance.com/en/" data-type="URL" data-id="https://www.lbofrance.com/en/" target="_blank" rel="noopener">LBO France</a>, reinforces its position in Africa to support disruptive entrepreneurs. 
The investment also aligns with LBO France’s strategy to identify high-growth sectors and offer diversified alternative assets to investors participating in Africa’s growth story. 
The digital sector, seen as a key driver of growth and innovation, holds a crucial tendency for growth and job opportunities in the Kenyan and African digital economies. The European Union’s Global Gateway initiative aligns with these goals, investing in Africa’s digital transformation to create favourable conditions for digital economies to thrive. 
Read More: <a href="https://technext24.com/2023/07/05/seedstars-women-migration-financial/" data-type="URL" data-id="https://technext24.com/2023/07/05/seedstars-women-migration-financial/">Seedstars to help women affected by migration to boost financial inclusion</a> 
<h5 id="lbo-france-backs-seedstars-africa-ventures-and-diverse-african-investments" data-beyondwords-marker="94dac21c-616c-4442-a253-894479ca9c33">LBO France backs Seedstars Africa ventures and diverse African investments</h5> 
According to a <a href="https://usw2.nyl.as/t1/234/3a3jm4bwfc47bahl2tzly4154/0/750c12034e92cbaad031177002572868d5b1dbd85d1b5c57cebc4cce3553425c" data-type="URL" data-id="https://usw2.nyl.as/t1/234/3a3jm4bwfc47bahl2tzly4154/0/750c12034e92cbaad031177002572868d5b1dbd85d1b5c57cebc4cce3553425c" target="_blank" rel="noopener">press release</a>, Seedstars African ventures team in Nairobi and Paris explained that “the anchoring ticket provided by the European Investment Bank is a testament to our investment thesis and the work we do across Africa. 
It signals the relevance of our positioning as well as the effectiveness of our support to portfolio companies.” 
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The statement explained further that the recognition will help the team onboard both African and foreign investors in the Fund to reach its USS80 to USS100 million target size. 
 Robert Daussun, Chairman of LBO France and Stéphanie Casciola, CEO of LBO France stated, “Identifying areas with high growth potential is at the heart of LBO France’s strategy, and we have been reinforcing our position in Africa by targeting highly dynamic sectors and supporting disruptive entrepreneurs.” 
“Our commitment to Seedstars Africa Ventures is part of our strategy to offer a range of diversified alternative assets to our investors and allow them to participate in Africa’s growth story, with a strong ES ambition.” 
According to the press statement, LBO France in 2023, took a majority position in CGF Bourse, a brokerage and asset management firm headquartered in Dakar and LBO France is also the majority shareholder in <a href="https://joliba-capital.com/" data-type="URL" data-id="https://joliba-capital.com/" target="_blank" rel="noopener">Joliba Capital</a>, a private equity fund based in Abidjan and focused on francophone Africa. The digital sector is a key driver of growth and innovation. Small and medium-sized enterprises, together with start-ups, are fueling the digital economy. Kenyan and African digital economies have potential and help entrepreneurs access finance which can be a game changer to foster quality growth and jobs, a common priority for both the EU and African partners. 
<h5 id="africas-vc-surge-seedstars-boosted-by-30m-eib-global-investment" data-beyondwords-marker="1ca377d3-7598-49a5-a2af-12dcb6ece256">Africa’s VC surge: Seedstars boosted by $30M EIB global investment</h5> 
Africa Witnesses Surge in Venture Capital investments to $4.8 Billion in 2022, sparking growth opportunities. Seedstars Africa Ventures plays a pivotal role in bridging the early-stage equity gap. The fund, with four completed transactions, focuses on innovative solutions addressing pressing needs like Beacon Power Services enhancing energy reliability in Nigeria and Ghana. 
Global challenges hinder finance access, but $30m EIB global investment aids expansion. The Boost Africa program is fully deployed, supporting inclusive economic growth and digitalization across African countries. 
Read More: <a href="https://technext24.com/2023/06/19/seedstars-youth-wellbeing-venture-botnar/" data-type="URL" data-id="https://technext24.com/2023/06/19/seedstars-youth-wellbeing-venture-botnar/">Seedstars launches $20 million fund to back early-stage African startups</a>

EIB invests $30m in Seedstars Africa ventures to boost innovation across the continent

Technext.ng

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