Fundraising for Cathay AfricInvest Innovation Fund wraps up

The joint pan-Africa venture fund sponsored by AfricInvest and Cathay Innovation has held its final close, winning commitments from a variety of LPs including African Development Bank, AfricaGrow, FMO, Triodos Investment Management, Proparco, SIFEM, as well as multinational corporations and high net worth individuals from Europe, Africa, and the Middle East. Since its 2019 launch, Cathay AfricInvest Innovation Fund has raised a total of €110 million, which, while making it one of the largest dedicated venture funds in Africa, is less than its original goal of €150 million.

Cathay AfricaInvest Innovation Fund is co-managed by teams from AfricInvest and Cathay Capital who look for innovative companies with strong growth track records and the potential to scale into international markets. The fund invests anywhere between €1 million and €10 million in its growth stage deals, but it can also back select seed-stage deals with as much as €1 million.

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