This archive report was first published on 29 October 2021.
Published on October 29, 2021, Antler East Africa, a Nairobi-based venture capital fund, is raising $15 million (Sh1.6 billion) from institutional investors to invest in local and regional start-ups.
The fund's investment committee selects companies to receive $100,000 (Sh11.1 million) in exchange for a 20% stake.
Antler will secure a total of $2 million (Sh222 million) from the IFC, with the rest coming from other investors.
According to IFC's investment disclosures, the fund is seeking to raise $15 million (Sh1.6 billion) in capital commitments, with IFC proposing an equity investment of up to $1.5 million (Sh166 million) through Catalyst and $0.5 million (Sh55 million) through We-Fi.
Women Entrepreneurs Finance Initiative (We-Fi) is designed to launch and grow female-owned companies, with the blended finance co-investment aiming to accelerate the fund manager's support to early-stage women-owned/managed start-ups.
Marie Nielsen and Melalite Ayenew will run Antler, which will invest in young companies in East Africa, with a focus on the Eastern Africa region and occasionally other countries.
Nairobi is a hub for start-ups, with a vibrant ecosystem bringing together entrepreneurs and investors in fields such as digital payments, entertainment, and e-commerce.
