Seedstars Africa Ventures secures a substantial $30 million investment from EIB Global, marking a significant milestone as the first major institutional funding for its inaugural pan-African venture capital fund. This capital injection follows an $8 million investment from LBO France, the fund's anchor investor. The venture capital fund, founded by Maxime Bouan, Tamim El Zein, and Bruce Nsereko-Lule in collaboration with Seedstars Group, aims to raise between $80 million and $100 million. The fund focuses on supporting seed and Series A startups, providing follow-on funding up to Series B, and offering comprehensive support beyond traditional accelerator programs.

Incorporating a larger-than-average fund size for Africa, Seedstars Africa Ventures seeks to address funding gaps in regions beyond the prominent African markets (Egypt, Kenya, Nigeria, and South Africa). The fund emphasizes not only financial support but also operational and business assistance for founders. The venture capital firm plans to make initial investments ranging from $250,000 to $2 million and provide follow-on funding of up to $5 million for up to 30 startups. Additionally, entrepreneurs will gain access to Seedstars' tools, networks, and visibility, creating a unique blend of capital and robust support for early-stage startups.

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While remaining sector-agnostic, Seedstars Africa Ventures expresses a particular interest in startups addressing fundamental needs such as education, healthcare, and utilities, or enhancing goods, services, and operational efficiency. The firm is open to both tech startups and innovative brick-and-mortar businesses that leverage digitalization for a competitive edge.

Notably, the venture capital firm plans to allocate up to 50% of the fund to Francophone Africa, aiming to tap into the region's growth potential, lower competition, and high-quality, better-priced deals compared to more mature Anglophone regions.

Seedstars Africa Ventures, headquartered in Paris and Nairobi, has already made initial investments in four businesses, including Poa Internet (Kenya), Beacon (Nigeria), Shamba Pride (Power Services Agritech), and Bizao. The new capital infusion from EIB Global is expected to accelerate further investments and strengthen the support provided to startups across the African continent.