According to the Bank’s website, the investment proposal is for up to US$5 million in equity into Ventures Platform Fund IV, an African seed fund that is raising US$30 million to make early-stage investments, primarily in Nigeria and the Rest of Africa. The Fund is focused on making early-stage investments (pre-seed to series A) in tech and tech-enabled startups targeting the mass market in Africa. The Fund had a first close in December 2021 of US$14.9 million.The Fund will be supported by the Blended Finance Facility (BFF) of the IDA 19 IFCMIGA Private Sector Window (IDA PSW), created by the Word Bank Group to catalyze private sector investment in IDA countries, with a focus on fragile and conflict-affected states.
Ventures Platform IV GP Limited
29 Mambilla Street, Off Aso Drive, Three Arms Zone, Abuja, Nigeria
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