Nairobi-based venture capital firm, Antler East Africa, has announced it is raising 1.6 billion shillings ($15 million) from institutional investors, including the International Finance Corporation (IFC), to invest in local and regional startups.
The company claims to have invested 11.1 million shillings ($100,000) in each company chosen by its investment committee for a 20 percent share.
Antler will raise the remaining funds from other investors once the IFC invests a total of 222 million shillings ($2 million).
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“The fund is looking for capital commitments of USD 15 million. IFC has made a stock investment of up to $1.5 million available through Catalyst and $0.5 million available through We-Fi,” the IFC stated in its investment disclosures.
The Women Entrepreneur Finance Initiative (We-Fi) is a program aiming to help women start and expand their enterprises.
“Antler East Africa will invest across the East African area, as well as in other countries when concepts created through the Nairobi program are better suited to other markets,” the IFC said.
Antler East Africa is a startup accelerator and early-stage venture capital fund based in Nairobi. The fund has a one-of-a-kind model and employs a professional approach.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write