The Africa Venture Finance Programme gathered over 40 leading African venture capital fund managers at Oxford University’s Saïd Business School from September 1-5.
Why it matters: The program aims to strengthen the skills of VC funds investing in early- and growth-stage technology companies across Africa, addressing the continent’s underfunding in the global venture capital market.
The details:
- Nearly half of the participating fund managers were women, promoting inclusivity within the venture capital landscape.
- The program is organized by EIB Global, supported by AfricaGrow, and tailored to enhance the capabilities of fund managers focusing on tech-enabled enterprises across the continent.
- Over its four editions, the program has engaged more than 150 of Africa’s top venture capital fund managers, fostering a strong community for knowledge sharing and collaboration.
- Senior partners from TLcom, Partech, and AfricInvest discussed current challenges and opportunities in the African VC landscape, covering topics like access to capital, fund performance, and strategies for portfolio growth.
The program is an initiative under the Boost Africa umbrella, backed by the European Investment Bank, the African Development Bank, the European Commission, and the Organization of African, Caribbean & Pacific States.
What they’re saying:
- “Boost Africa is about more than just finance – it’s about building resilient economies, fostering innovation, and creating inclusive growth through smart, targeted investment,” said EIB Vice-President Ambroise Fayolle.
- “Africa’s innovation potential is immense, and venture capital is the bridge to unlocking it,” stated Peter Ellersiek, AfricaGrow’s Investment Director.
- “At a time when Africa’s entrepreneurial ecosystem is rapidly evolving, the AVFP equips fund managers with the tools, networks, and critical thinking needed to shape the future of capital on the continent,” said Aunnie Patton Power, Programme Director for AVPF.
By the numbers:
- Africa currently receives only 1% to 2% of global venture funding while representing 18% of the world’s population.
- In 2024, Africa’s entrepreneurial ecosystem secured 487 deals, including 427 venture capital deals valued at $2.6 billion and 60 venture debt deals worth $1 billion.
- Boost Africa has mobilized over €380 million in capital for startups across the continent and significantly improved funding access for African founders.
The bottom line: The Africa Venture Finance Programme plays a crucial role in fortifying Africa’s venture capital infrastructure, supporting the continent’s growing tech scene, and driving inclusive economic growth.