Top African fund managers gather at Saïd Business School in Oxford to support Africa’s tech innovation boom – African Business | CialisWay

European Investment Bank (EIB)
Download logo

From September 12-16, 2022, the Boost Africa Technical Assistance Facility and the AfricaGrow Technical Assistance Facility will host 40 leading fund managers from selected African investment funds for an in-person program at Oxford University’s Saïd Business School. The program aims to create dialogue and expand expertise to fuel Africa’s exponential growth in Tech Venture Capital (VC).

The “Africa Venture Finance Program” is specifically aimed at VC fund managers who invest in technology companies in the early and growth phase in Africa. The week-long course focuses on sharing best practices and peer-to-peer knowledge, providing cutting-edge insights and learning opportunities across all relevant aspects of fund management.

A total of 15 funds will be represented, including fund managers from AfricInvest, Knife Capital, TL Com Capital, Ventures Platform Fund, Janngo Capital, Atlantica Ventures and others. More than half (62%) of participating fund managers are women, reflecting an industry-wide need for increased inclusion of women ( at senior management levels.

Fund managers also have the opportunity to engage with business leaders, industry experts and representatives from Development Finance Institutions (DFIs) such as the European Investment Bank and DEG Invest.

The African tech ecosystem has seen amazing growth in recent years, trebling from 2020 to $5.2 billion ( in 2021. However, the proportion of Africa-led startups receiving significant funding remains woefully low, remaining in the single digits ( In addition to its intrinsic benefits, locally-led leadership is critical to directing VC investments towards innovations that effectively address challenges inside and outside Africa. African startups have proven to be competitive, profitable and world-class when armed with the support and expertise of investors and fund managers who truly understand their value and growth potential.

This program therefore aims to bring together African fund managers at the forefront of the continent’s unique growth trajectory and leverage their own expertise and that of critical ecosystem stakeholders to usher in the Africa-led unicorns of tomorrow.

“The EIB is committed to supporting high-impact investment in innovation around the world. We are excited to support the Boost Africa program, which shares investment best practices to increase the sustainable impact of investment partners across Africa.”Ambroise FayolleVice President of the European Investment Bank.

“We are delighted to convene a group of leading African venture capital funds for this course in Oxford. Throughout the week, attendees will engage with global VC experts, Oxford faculty and most importantly, each other. We hope that the course will help strengthen and connect the African VC ecosystem.”Aunnie Patton PowerProgram Director, Oxford Saïd Business School.

“Both AfricaGrow and Boost Africa aim to have a catalytic impact on the burgeoning African start-up ecosystem by investing in and supporting VC funds in Africa. Bringing together 40 of Africa’s top investors in a unique way, this week at Oxford Saïd Business School will definitely help drive the conversation around how we can ensure the continent’s most promising founders have a fighting chance to launch their businesses and to expand.”David van DijkTeam Leader, Boost Africa Technical Assistance Facility.

The authors take full responsibility for the content of this article. The opinions expressed do not necessarily reflect the views of the European Union or the European Investment Bank.

Distributed by APO Group on behalf of the European Investment Bank (EIB).

Press contacts:

Richard Willis
[email protected]
Tel.: +352 43 79 82155 / Mobile: +352 621 55 57 58
Press office: +352 4379 21000 – [email protected]

Strengthen Africa:
[email protected]

Social media:

RSS feed:

EIB Global:

Strengthen Africa:

About EIB Global:
EIB Global ( is the EIB Group’s new dedicated arm dedicated to increasing the impact of international partnerships and financing for development. EIB Global aims to foster a strong, focused partnership within Team Europe ( alongside other development finance institutions and civil society. EIB Global brings the group closer to local people, businesses and institutions through our offices around the world (

About Boost Africa:
The Boost Africa Technical Assistance Facility provides tailored support to strengthen the professional and operational core competencies of partner fund managers and their investee companies to unlock the growth potential of innovative technology start-ups and high-growth small and medium-sized enterprises (SMEs) in sub-Saharan Africa. The Facility is funded by the European Union and the Organization of African, Caribbean and Pacific States through the 11th European Development Fund. The financing will be managed by the European Investment Bank (EIB) and implemented by Adam Smith Europe, part of the Adam Smith International Group. The Technical Assistance Facility is part of the broader Boost Africa programme, a joint initiative by the EIB and the African Development Bank (AfDB) to enable and encourage entrepreneurship and innovation across sub-Saharan Africa.

About AfricaGrow:
AfricaGrow is a Germany-based fund of funds that aims to support small and medium-sized enterprises (SMEs) and start-ups on the African continent through investments in pan-African regional and country-specific private equity and venture capital funds with proven track records and capacities. The fund aims to have a catalytic effect on the emerging and dynamic African SME and start-up ecosystem, thereby helping to boost jobs and income and strengthen sustainable economic growth. As a legally independent entity, AfricaGrow is a central instrument of the Compact with Africa (CwA) initiative, which was launched in 2017 under the 50th German G20 presidency. The technical aid facility is funded by the Federal Ministry for Economic Cooperation and Development (BMZ), the fund is managed by Allianz Global Investors and advised by DEG Impact GmbH.

This press release was issued by APO. The content is not monitored by the African Business editorial team and the content has not been reviewed or validated by our editors, proofreaders or fact-checkers. The issuer is solely responsible for the content of this announcement.

Leave a Comment