Nairobi-based venture capital fund Antler East Africa announced on October 29, 2021 that it had raised 1.6 billion shillings ($ 15 million) from institutional investors, including the International Finance Corporation (IFC), for invest in local and regional start-ups.
The company claims to have invested 11.1 million shillings (US $ 100,000) for a 20% stake in each company selected by its investment committee. IFC is set to invest a total of 222 million shillings ($ 2 million) in Antler, which will mobilize the remainder of the capital from other investors.
“The fund seeks to raise USD 15 million in capital commitments. IFC has offered up to $ 1.5 million in equity investment … through Catalyst and $ 0.5 million through We-Fi, “IFC said in its investment statements.
We-Fi refers to the Women Entrepreneur Finance Initiative which is designed to start and grow women-owned businesses.
“Antler East Africa will invest throughout the East African region and sometimes in other countries as ideas developed from the Nairobi program are better suited to other markets,” IFC added.
Based in Nairobi, Antler East Africa is a start-up generator and early-stage venture capital fund. The fund offers a unique model and a professional approach.
