Tunisia-based private equity fund AfricInvest is busy raising funds to launch a €120-million fund to invest in innovative new ventures across the continent, the site Ventureburn reported.
A top official at the company was quoted as saying by the same source the fund would target “successful startups” from any sector, from across the continent, using AfricInvest’s
various other offices across the continent, namely: Tunis, Lagos, Abidjan, Nairobi, Cairo, Algiers and Casablanca.
“It is aimed to be first truly African fund with offices in North, East, and West Africa and we aim to raise €120-million,” said the official.
“We aim to invest companies with such ambitions across industries: fintech, energy, eductech, agritech, health, logistics etc”, noted the same source.
The closing of the first capital raise of €50-million is expected at the end of this year, thanks to contributions from between six and eight investors, including corporate funders, family offices, venture capital funds and development finance institutions.