Top fund managers boost Africa’s tech potential at  Oxford’s business school 

Business a.m. Reporter

For five days starting from Monday 9 September, 44 leading fund managers from 33 African venture capital (VC) funds will be hosted by Boost Africa and AfricaGrow at the Oxford University’s Saïd Business School in the United Kingdom.

The VC funds include Partech, AfricInvest, TLcom, Norssken, Speedinvest, and others who are attending the Africa Venture Finance Programme (AVFP), a week-long, in-person course, developed specifically for VC fund managers investing in early and growth-stage technology companies in Africa.

In a statement made available to Business a.m. by Boost Africa, attendees from across the continent will participate, with half of them being women, highlighting the industry’s need for greater inclusion of women at senior levels.

According to Boost Africa, the programme supports the growth of Africa’s technology venture capital sector and will equip fund managers to identify and fund innovative solutions, addressing Africa’s unique challenges, in an atmosphere that will also allow them to share expertise and facilitate discussions to drive rapid growth in Africa’s technology venture capital sector.

“The EIB is committed to financing new technology and ideas that will address the global challenges we all face,” said Ambroise Fayolle, vice president of the European Investment Bank (EIB). 

“We are proud of Boost Africa’s role in supporting a vibrant and resilient VC ecosystem in Africa and helping African entrepreneurs transform their ideas into successful businesses,” Fayolle added.

Aunnie Patton Power, Oxford programme director said: “The African Venture Finance Programme exemplifies the kind of impactful, high-calibre initiatives we strive to offer at Saïd Business School. We take pride in our deep connections with the African continent, reflected in our students, alumni, and faculty, and we are excited to continue fostering the growth of emerging leaders through our programmes.”

Also commenting, Martin Ewald, lead portfolio manager, impact investments, at Allianz Global Investors, said: “At AfricaGrow, we are proud to serve as a catalyst for private capital into the African venture capital ecosystem. Our investments and technical assistance programmes are designed to empower local first-time funds, extending our impact beyond our immediate portfolio. The Africa Venture Finance Programme offers a unique opportunity for fund managers to exchange knowledge, create strong networks and forge valuable partnerships.”

In addition to Oxford academic staff, prominent investors and technology experts from around the world will engage with participants on various topics, including renowned African investors and AVFP alumni Khaled Ben Jilani from AfricInvest, Keet van Zyl from Knife Capital, and Ido Sum from TLcom. 

Attending fund managers will also have the opportunity to interact with representatives not only from the programme sponsors, the European Investment Bank and AllianzGI/ KfW/ DEG Impact, but also from development banks and international organisations such as the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), British International Investment (BII), the Dutch Entrepreneurial Development Bank (FMO), the French Proparco development finance institution, and others. Additionally, the Alliance for Entrepreneurship in Africa and the Investing in Young Businesses in Africa (IYBA) initiative supported by the European Union (EU), will conduct a workshop to increase the coordination and cooperation between programmes helping investment funds and technology companies in Africa.

Boost Africa and AfricaGrow aim to have a catalytic effect on the emerging African start-up ecosystem by investing in and technically supporting VC funds in Africa. 

Boost Africa is a joint initiative between the European Investment Bank and the African Development Bank (AfDB) to enable and enhance entrepreneurship and innovation across Africa in a commercially viable way. It addresses a current gap in the African market by providing early-stage venture capital paired with skills development.