Atlantica Ventures secures US$50M to invest in African start-ups

AFRICA – Atlantic Venture, an African impact-focused Venture Capital fund investing in tech and tech-enabled start-ups, has secured US$50M to expand its operations.

The latest funding in pledge was led by the European Investment Bank (EIB) and Boost Africa.

Atlantica Ventures becomes the newest African investment partner to gain from the Boost Africa program, which will help to accelerate its expansion.

The company will keep seeking new investors until the deal is completed to enhance the startup ecosystem by contributing their know-how and expertise to stimulate the development of start-ups.

The platform is able to look around the corner and build a thesis before popular adoption because of hands-on approach, and data-driven methodology.

The European Investment Bank is committed to improving access to finance by innovative companies across Africa and around the world,” said Thomas Östros, European Investment Bank Vice President

Venture capital is a critical source of finance for early-stage enterprises, promoting entrepreneurs, and fostering innovations that promote economic growth, reducing poverty, and creating jobs.

Despite the obstacles caused by the global health crisis, Africa’s venture capital (VC) ecosystem was and continues to be vibrant.

Atlantica Ventures intends to contribute to the development of the wider ecosystem by promoting the emergence of the next generation of female technology investors as a mainly female-owned and managed fund.

To create financial rewards and significant impact, Atlantica Ventures works at the crossroads of innovative business models and technology.

Atlantica Ventures backs entrepreneurs who use technology to solve problems and create an economic potential for their consumers and other stakeholders.

Increase entrepreneurship and innovation, generate new and suitable jobs, create an appropriate entrepreneurial ecosystem in Africa.

In addition, it resolves financing needs at the first and toughest stages of business formation and develops young entrepreneurs’ abilities and talent are among the five main objectives of the initiative.

To date, Atlantica Ventures has funded Sabi, OnePipe, Sendy, and Curacel, all of which have generated sustainable and responsible business models to boost financial inclusion while bringing the informal employees into the formal economy to increase their financial well-being.

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