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# IFC to invest $26 million in Africa-focused venture fund
- URL: https://www.techloy.com/ifc-to-invest-26-million-in-africa-focused-venture-fund/
- Published: 2022-06-20T14:11:12.000Z
- Updated: 2022-12-08T01:44:10.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Money, Tech in Africa

The arm of the World Bank, International Finance Corporation (IFC) has disclosed its intention to invest $26 million in [Partech's](https://www.eib.org/en/products/equity/funds/partech-africa-venture-capital-fund) Africa Fund II (PAF) to support startups in Africa. 

- The capital will be invested in seed to Series D rounds of African startups and follow-on rounds of top portfolio firms.
- Fund I launched in 2019 at $143 million with support from the European Investment Bank, the Dutch Development Bank, and the African Development Bank.
- Launched in 2018, Partech Fund invests in startups with activities in Africa including fintech, edtech, and insurtech firms among others, with existing investments in Nigeria's TradeDepot, South Africa's Yoco, and a series of others.