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§ Grant
Program for African VC funds and early-stage startups, offering blended finance and technical assistance.
The program invests between EUR 1 million and EUR 10 million into venture capital, private equity, and angel funds targeting Sub-Saharan Africa.
The initiative is co-administered by the African Development Bank and the European Investment Bank, with additional backing from the European Commission.
The program focuses on agribusiness, healthcare, education, financial services, and technology-enabled business models across Sub-Saharan Africa.
No, Boost Africa invests in fund managers and investment vehicles rather than individual startups. Startups benefit indirectly through the funded VC and angel funds.
The program operates on a 17-year mandate with a total budget of EUR 180 million in blended finance.
African Development Bank Boost Africa is a blended finance initiative and technical assistance program co-administered by the African Development Bank and the European Investment Bank. Operating with a €180 million total budget, the 17-year program invests between €1 million and €10 million into venture capital, private equity, and angel funds targeting critical sectors like agribusiness, healthcare, education, and financial services. The initiative receives additional financial backing from the European Commission to expand early-stage technology funding across the African continent. By late 2023, the program had deployed €88 million into regional intermediaries such as Janngo Capital and Partech Africa, mobilizing €400 million in total capital and supporting approximately 15,000 jobs. This resource is intended for young entrepreneurs, women-led startups, and high-growth enterprises in Sub-Saharan Africa seeking indirect capital access, skill-building, and technical capacity to scale innovative businesses.
African Development Bank Boost Africa is a EUR 180 million blended finance initiative co-administered by the African Development Bank and the European Investment Bank. The 17-year program invests between EUR 1 million and EUR 10 million into venture capital, private equity, and angel funds targeting critical sectors across Sub-Saharan Africa. Additional financial backing from the European Commission expands early-stage technology funding across the continent.
Boost Africa targets fund managers and investment vehicles focused on early-stage companies in Sub-Saharan Africa. Eligible funds must operate across sectors including agribusiness, healthcare, education, and financial services. The program prioritizes investments that address youth employment and entrepreneurship, with a particular focus on technology-enabled business models that can scale across multiple African markets.
Selected fund managers receive anchor investments of EUR 1 million to EUR 10 million from the Boost Africa facility. The program also provides technical assistance grants for fund management capacity building and portfolio company support. Fund managers gain access to the African Development Bank's continental network and the European Investment Bank's global expertise in blended finance structuring.
Boost Africa evaluates fund manager applications through a structured due diligence process conducted jointly by the African Development Bank and the European Investment Bank. Interested fund managers can submit expressions of interest directly to either institution. The program operates on a rolling basis within its 17-year mandate, with investment decisions made by a joint investment committee.
The Boost Africa initiative has supported numerous venture capital and angel fund managers across the continent, contributing to the growth of Africa's startup ecosystem. Portfolio funds have invested in technology companies spanning fintech, agritech, healthtech, and edtech, helping create employment opportunities for young entrepreneurs across multiple African nations.