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# AfricInvest Innovation Fund raises €110 million to back African tech startups
- URL: https://www.techloy.com/africinvest-innovation-fund-raises-110-million-to-back-african-tech-startups/
- Published: 2022-07-19T13:22:58.000Z
- Updated: 2022-12-08T00:24:41.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Money, Tech in Africa

A partnership venture focusing on African startups, [Cathay AfricInvest Innovation Fund,](https://cathayinnovation.com/fund/cathay-africinvest-innovation/) has raised €110 million in its new funding round to support tech startups in Africa.

- The fund is deployed as up to €1 million in seed-stage and between €1 to €10 million for growth-stage startups.
- AfricInvest is a multiplatform asset investment firm in Africa collaborating with Cathay Innovation, a global-focused firm for the Pan-African Fund.
- AfricInvest has raised over $2 billion across 21 funds since its launch while Cathay Innovation recently launched a $110 million crypto fund and a $500 million health fund.
- The Fund targets backing African startups to products and services that will benefit over 100 million users in Africa.