Early-stage investor Antler has closed its oversubscribed East Africa investment fund at USD 13.5 Mn to continue to support early-stage tech startups in the region.
The model will be twofold, accepting founders looking to build their businesses with Antler from scratch, as well as early-stage startups looking to raise capital.
Antler aims to provide one of the shortest institutional funding cycles for a global fund in Africa, focused on bringing coaching and true value to all our founders from day one. The company plans to make 35 new investments over the coming three years.
To support this growth in Kenya and other countries in East Africa, IFC is working with partners such as Antler to provide local tech startups with capital and support systems that enable them to launch and grow their businesses while creating jobs.
“Africa’s digital economy is growing, and it is critical that our investments and partnerships empower more entrepreneurs to tap into this growth,”Jumoke Jagun-Dokunmu, IFC Regional Director for Eastern Africa.
“By supporting Antler, we can help entrepreneurs in East Africa, including women, to bring their ideas to life or take their start-ups to the next level, contributing to the region’s digital transformation.”