UAE funds back investments in African startups

UAE funds back investments in African startups

Abu Dhabi’s Mubadala Investment Company and French national investment bank Bpifrance have co-invested in an Africa-focused venture capital (VC) fund. At the same time, Dubai Future District Fund, launched in 2020 by Dubai’s ruler Sheikh Mohammed Bin Rashid Al Maktoum, has also invested in the Partech Africa II VC fund. The capital investments of the […]Abu Dhabi’s Mubadala Investment Company and French national investment bank Bpifrance have co-invested in an Africa-focused venture capital (VC) fund.

At the same time, Dubai Future District Fund, launched in 2020 by Dubai’s ruler Sheikh Mohammed Bin Rashid Al Maktoum, has also invested in the Partech Africa II VC fund.

The capital investments of the two funds were not disclosed.

Partech Africa II, launched by Paris-headquartered technology investment firm Partech, has hard capital of €280 million ($305 million), making it the largest VC fund for technology startups in Africa.

The fund will provide $1 million to $15 million in initial tickets from seed to series C rounds to support the global expansion of African companies and startups.

“Africa is one of the world’s fastest-growing markets for venture capital, and we are delighted to announce our first investment through the €350 million Africa co-investment partnership with Bpifrance,” said Andres Rodenas