Emerging markets startup competition Seedstars‘ $100-million Africa fund has made its first investment, Seedstars co-founder Pierre-Alain Masson has revealed.
Seedstars announced the launch of the fund to invest in African startups in collaboration with Paris based First Growth Ventures, in April last year.
The fund aims to make investments of between $250 000 to $5-million in Series-A and Series-B deals.
Speaking during a press conference earlier this month before the 2020 Seedstars Summit (which was held online due to the coronavirus), Masson said the fund had invested in a Kenyan company in the education sector.
He did not provided any further details such as the name of the company, when the deal was closed or how much the fund had invested in the company.
Masson added that while the Covid-19 pandemic might have an effect on the fund, all the investors who had already committed to the fund are still on board.