AfricInvest, a multi-asset investment platform based in Tunisia, and Cathay Innovation, a venture capital firm based in the US, have completed the final close of their joint Pan-African venture fund, the Cathay AfricInvest Innovation Fund [CAIF], at a total of $112.8 million. The fund is supported by the EIB, AfricaGrow, FMO, Bpifrance, Triodos Investment Management, Proparco, SIFEM, BIO.
The CAIF fund will put money into early-stage to growth-stage businesses that use disruptive technology to create goods and services that improve African lives.
Fintech, mobility, health, edtech, AI, digital content, and agritech firms that are chosen will get investments ranging from $1 million to $10 million for growth-stage and up to $1 million for seed-stage tickets.
“AfricInvest’s partnership with Cathay Innovation brings to Africa global expertise in the innovation space combined with a robust network in Europe, the US and Asia, all helping to build bridges between Africa and the rest of the world, allowing the fund’s investees to grow into regional and global champions,” said Yassine Oussaifi, Partner at AfricInvest and co-head of CAIF.
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