Africa Finance Corporation commits $100m to technology fund managers
Africa Finance Corporation commits $100m to technology fund managers
https://www.africaprivateequitynews.com/p/africa-finance-corporation-commits-54a
Publish Date: 2026-05-18 12:17:00
Source Domain: www.africaprivateequitynews.com
Iyin Aboyeji, founding partner of Future Africa
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Africa Finance Corporation (AFC) has approved a commitment of up to $100 million to invest in Africa-focused technology fund managers.
Through this commitment, AFC will deploy catalytic capital in leading Africa-focused technology funds and in particular African-owned fund managers. In doing so, AFC aims to address the underrepresentation of local capital in venture funding by catalysing greater participation from African institutional investors and deepening local ownership within the ecosystem.
Samaila Zubairu, president and CEO of AFC said: “Across the continent, young Africans are not waiting for the digital economy to arrive; they are seizing the moment – adopting technology, creating markets and solving real economic problems faster than infrastructure has kept pace. That is the investment signal. AFC’s $100 million Africa-focused Technology Fund will accelerate the convergence of growing demand, rapid technology adoption, youthful demographics and the enabling infrastructure we are building. Digital infrastructure is now as fundamental to Africa’s transformation as roads, rail, ports and power – enabling productivity, payments, logistics, services, data and cross-border trade, while creating jobs and industrial scale.”
As part of the initial deployment, AFC has made anchor commitments to Lightrock Africa Fund II and Future Africa Fund III, positioning the corporation across the full innovation lifecycle – from early-stage venture capital through to growth-stage scaling. These initial commitments represent the first tranche of a broader deployment, with AFC actively evaluating a pipeline of additional Africa-focused funds.
Pal Erik Sjatil, managing partner and CEO of Lightrock, said: “We are delighted to welcome Africa Finance Corporation as an anchor investor in Lightrock Africa II, deepening a strong…
