African Development Bank Backs Saviu II Fund to Support African Tech Startups
The African Development Bank commits €6.5 million to Saviu II fund, supporting seed-stage and early fundraising tech startups in French-speaking West and Central Africa, with a focus on digital innovation...
✨ Key Highlights
The African Development Bank Group (AfDB) has committed €6.5 million to the Saviu II fund to bolster technology startups across Africa through seed-stage and early institutional funding.
- The investment includes €4.5 million in equity and €2 million as first-loss hedging from the European Commission under the Boost Africa Programme.
- This funding will primarily target B2B tech startups, with 60% of commitments focused on French-speaking West and Central Africa.
- The Saviu II fund aims to invest between €500,000 and €3 million in approximately 20 startups.
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