Atlantica Ventures, an African tech Startup Fund, has raised over $11.3 million (c. EUR 10m) in junior capital from Boost Africa and $12.5m (c. EUR 11m) in senior capital European Investment Bank.
The venture capital firm is the latest African investment partner to benefit from the Boost Africa initiative.
“The European Investment Bank is committed to improving access to finance by innovative companies across Africa and around the world. The EIB’s new partnership with Atlantica Ventures will scale up specialist financing for technology and technology-enabled companies across Africa to ensure that technology can contribute to delivering inclusive and sustainable growth.” Said Thomas Östros, European Investment Bank Vice President.
“Atlantica Ventures is delighted to announce that it reached over USD 50 million in commitments, anchored by EIB and Boost Africa. We will continue engaging further investors till final close. We believe that the start-up ecosystem benefits from venture capital funds that are dedicated to Africa and can contribute their know-how and experience to support the growth of start-ups.
“Such funds benefit from investors that have a belief not only in the fund managers but also in the potential of the market. EIB and Boost Africa have demonstrated that belief by their support of Atlantica Ventures, and we look forward to the partnership and joint effort to transform and uplift the African tech ecosystem.” Said Ik Kanu, co-founder of Atlantica Ventures.
Founded by Aniko Szigetvari and Ik Kanu, Atlantica Ventures, an early-stage pan-African impact focused venture capital fund, with the belief that Africa’s and the world’s problems can and will be solved by African entrepreneurs channelling their passion and skills through technology.
The venture company operates at the intersection of innovative business models and technology to generate financial returns and positive impact. Atlantica Ventures supports founders who solve problems through the use of technology to unlock economic potential and opportunities for their customers and other stakeholders.
To date, the venture capital firm has invested in Sabi (Sabi.am), OnePipe (onepipe.com), Sendy (sendy.it) and Curacel (curacel.co), to name a few; all companies whose founders have created sustainable and scalable business models to increase financial inclusion and/or to bring the informal workforce into the formal economy to improve their economic well-being.
