Catalytic Africa matching fund makes 3 investments totalling $191k
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The co-investment fund Catalytic Africa, established in 2019 by the African Business Angels Network (ABAN) and AfriLabs, made three investments totalling EUR174,000 (US$191,000) in startups from Cameroon, DRC and Kenya in June and July. The partnership between AfriLabs, a pan-African network of technology and innovation centres, and ABAN aims to increase the pool of capital available to promising African growth-stage entrepreneurs, support the startup ecosystem, and increase the visibility of impact to institutional funders.
The co-investment fund Catalytic Africa, established by the African Business Angels Network (ABAN) and AfriLabs in 2019, has made three investments totaling $191,000 in startups from Cameroon, the Democratic Republic of Congo (DRC), and Kenya in June and July. Catalytic Africa was created to match investments made by registered angel investors with institutional funds, supported by Agence Française de Développement (AFD) and the Digital Africa fund. Among the investments made, Cameroon-based fintech startup Koree, Kenyan save-to-buy platform Mosmos, and DRC-based ed-tech startup ITOT Africa were recipients of matching funds, helping them further their innovative solutions in their respective markets.
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