In the wake of the EU-Africa Business Forum, the European Investment Bank has announced an additional €10 million through a first-loss equity investment in the Janngo Capital Start-up Fund as a flagship fund of the Boost Africa initiative.
This investment complements a previous €15 million commitment signed by the EIB in December 2020.
Janngo Capital Startup Fund will provide seed and growth investments to early-stage tech and tech-enabled startups that
1) enable Africans to improve their access to essential goods and services such as healthcare, education or financial services,
2) enable African SMEs to improve their access to market & capital
3) create sustainable jobs at scale, with a focus on women & youth.
– AVCA Africa