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Seedstars Africa Ventures, LBO France commit €6.3 billion for investments in African startups

Seedstars Africa Ventures has partnered with  LBO France as part of the new African strategy of the French PE firm totalling €6.3 billion in  commitments to fill the investments gap in African startups.

In cooperation with Seedstars, a global emerging market accelerator active in 25  African countries, the fund focuses on financing innovative companies operating in sub-Saharan  Africa in seed and series A rounds. 

In a statetement, Robert Daussun, CEO of LBO France: “Africa has become LBO France’s new frontier with Venture as  one of the strategies we are implementing on the continent. Innovation is buoyant there, the mood  is incredibly positive and demography and economy are powerful drivers. Partnering with  Seesdstars, is a terrific opportunity to address this new market.” 

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The fund is closing its third investment, growing its footprint from education and connectivity to  agriculture. It leverages a footprint across the region to invest in early-stage companies across  sectors, beyond the region’s main tech hubs. By investing up to $2 million and with a capacity to  reinvest, the fund acts as the missing link between accelerators and later stage funds.  

Maxime Bouan, Managing Partner: “Bringing on board LBO France is a major milestone for African  entrepreneurship as it shows the attractivity of the venture capital segment and the increasing  comfort international investors have in investing in early-stage African innovation.”  

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Funded by private institutional capital, the fund is being joined by public institutions and corporates. 

Tamim El Zein, Managing Partner: “LBO France’s commitment is a strong signal to the market,  incentivizing corporates and other institutional investors to partner and benefit fully from the African  growth opportunity.” 

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Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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