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Contributing to digital transformation and supporting employment
Project
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Signature date
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Location
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Nigeria
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Financing tool
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Financing amount (Euro)
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4900000
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Financing details
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USD 5m Equity Investment
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Customer
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Ventures Platform IV LP
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Type of customer
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Investment fund
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Country of headquarters
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Guernsey
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Project number
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ING1004
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has invested in Ventures Platform IV and is thereby helping to support innovative start-ups and job creation.
Client presentation
Ventures Platform IV is a seed fund for Africa, designed to fill structural gaps by connecting underrepresented communities while improving livelihoods in Africa.
Project description
This project is in line with Proparco’s strategy to strengthen its VC activity. The project is thereby supporting an African player in its strategy to deploy technological solutions in high impact sectors, while creating jobs.
Project impact
This investment is fully in line with the Choose Africa mandate to support African entrepreneurs, as 50 innovative start-ups will be supported, mainly in the development of IT services (in the logistics, financial, e-commerce, education, transport and health sectors). The investment will thereby contribute to the digital transformation in the region, while supporting 900 direct jobs in the investee companies.
The operation will ensure that the growing businesses receive the required support in their innovation journey. Together with the other Development Finance Institutions, the project can help improve E&S standards through training, procedural frameworks and technical assistance.
The project will contribute to SDG 8 (“Decent work and economic growth”) and SDG 9 (“Industry, innovation and infrastructure”).