The Fund will make investments in entrepreneurial, technology-related companies demonstrating the potential for significant growth, with particular focus on innovative edtech, health-tech, fin-tech and market enablement companies across Africa.
According to the DFC, the Fund is expected to have a highly developmental impact focusing on building successful, sustainable, tech-enabled businesses across sub-Saharan Africa. By focusing on the sectors of fin-tech, market enablement, ed-tech, and med-tech, the target businesses will be at the core of solving many of the societal problems of access to and
affordability of critical goods and services in Africa.
The DFC states that the target of the Norrsken22 Africa Fund is US$ 200 million, to which the DFC will contribute with an equity investment of "up to US$ 15 million".
According to Bloomberg, the Norrsken Foundation operates as a venture capital firm. The Firm invests in early-stage social technology companies. The Norrsken Foundation serves investors worldwide.
The Norrsken Foundation is one of the founding investors of the Norrsken22 Africa Fund. The latter is a a women-led fund investing in high-impact technology companies across Africa.
The investment manager for the DFC project will be N22 Africa Fund (D) AB, a company created in 2021 and registered in Stockholm.
|Private Actor 1
|Private Actor 1 Role
|Private Actor 1 Sector
|Private Actor 2
|Private Actor 2 Role
|Private Actor 2 Sector
Project contacts not disclosed by the DFC.
Norrsken22 Africa Fund:
N22 Africa Fund (D) AB:
Address: Birger Jarlsgatan 57C, 11356 Stockholm, Sweden
Address in Stockholm: Norrsken House Stockholm, Birger Jarlsgatan 57 C, 113 56 Stockholm
Address in Kigali: Norrsken House Kigali, KN, 78 St, Kigali, Rwanda
ACCESS TO INFORMATION
Unlike many other development finance institutions, DFC does not currently have an access to information policy.
Under the United States Freedom of Information Act (FOIA), DFC is obliged to respond to reasonably formulated requests for Agency records. However, DFC may apply exemptions from release to certain types of information and may charge fees in responding to requests. DFC has a designated FOIA officer who is trained in how to respond to requests and implement the law. You can learn more about filing a FOIA request at: https://www.dfc.gov/foia
ACCOUNTABILITY MECHANISM OF THE UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC)
The Office of Accountability is an independent office that addresses complaints about environmental or social issues related to DFC-supported projects. The office provides communities an opportunity to have concerns independently reviewed and addressed. If you submit a complaint to the Office of Accountability, it may assist you by either seeking to address your problems by facilitating a problem solving dialogue between you and those implementing the project and/or investigating whether the DFC complied with its policies to prevent environmental, social, human rights, and labor harms.
You can find more information about the Office of Accountability at: https://www.dfc.gov/who-we-are/office-accountability