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    Signature(s)

    Amount
    € 9,071,940.48
    Sector(s)
    Services : € 9,071,940.48
    Signature date(s)
    22/12/2023 : € 9,071,940.48

    Summary sheet

    Release date
    24 July 2023
    Status
    Reference
    Signed | 22/12/2023
    20230334
    Project name
    Promoter - financial intermediary
    SEEDSTARS AFRICA VENTURES 1 BOOST AFRICA JUNIOR
    SEEDSTARS AFRICA VENTURES INVESTMENT MANAGEMENT SAS
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    USD 10 million (EUR 9 million)
    USD 80 million (EUR 75 million)
    Location
    Sector(s)
    Description
    Objectives

    The operation consists of an equity participation in the junior tranche of Seedstars Africa Ventures 1, a closed-ended venture capital fund investing into high-growth small and medium sized enterprises (SMEs). In detail, the fund focuses on SMEs leveraging digital technologies to deliver services across sectors in Sub-Saharan Africa, primarily West and East Africa, and to a lesser extent, North Africa.

    The aim is to support job creation, digitalisation and private sector development, by increasing access to risk capital to local high-growth SMEs. The fund will invest into a diversified portfolio of companies, supporting the value creation of the underlying investees through a hands-on management approach. It will also enhance their Environmental, social, and governance (ESG) standards.

    Additionality and Impact

    Through this operation, the EIB will be able to support a first-time team launching its first fund targeting investments in SMEs in Africa, with a primary focus on Sub-Saharan Africa. By enhancing access to much needed risk capital to support start-ups and growth SMEs the project is expected to promote economic growth and private sector development, stimulate job creation, encourage local young entrepreneurs supporting solutions with high level of scalability and reduce poverty across targeted African economies. Access to finance - in particular equity finance - and managerial advice are among the most prevalent barriers for the growth of small and mid-sized companies. The provision of growth capital and managerial support through private equity funds has proven an effective strategy to overcome this market failure.


    The project will not have relevant negative environmental and social impacts. On contrary, some investments may result in positive environmental and social impacts.


    With the EIB commitment, the Fund's terms are expected to be negotiated in line with market practice standards. Additionally, by providing a junior tranche, the EIB's involvement is anticipated to catalyse other investors in a challenging fund raising environment that has been exacerbated by the impact of the Covid-19 pandemic and the conflict in Ukraine.


    Environmental aspects
    Procurement

    The Fund will operate in line with the EIB's environmental and social standards.

    N/A

    Milestone
    Under appraisal
    Approved
    Signed
    12 September 2023
    22 December 2023

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - SEEDSTARS AFRICA VENTURES 1 BOOST AFRICA JUNIOR
    Publication Date
    16 Sep 2023
    Document language
    Main Topic
    Lending
    Document Number
    171430186
    Document Focus
    Environmental Information
    Project Number
    20230334
    Sector(s)
    Countries
    Publicly available
    Download now

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