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Support for African start-ups: Mara Group announces the creation of a $250 million fund

08/11/2024
Source : ORISHAS FINANCE
Categories: Sectors

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An agreement was sealed in Saudi Arabia during the 2024 edition of the future Future Investment Initiative which took place last week in Riyadh. Mara Group announced the creation of a $250 million investment vehicle to support African start-ups.

Mara Group, l' accélérateur technologique Startupbootcamp et Blend Financial Services , an investment company Indians have joined forces to carry out the project of creating an investment vehicle to support African start-ups. This fund will be dedicated to start-ups in the growth phase and to pre-IPO financing. It will focus on South Africa, Nigeria, Nigeria, Kenya, Ivory Coast and Egypt.

This initiative is part of a context of scarcity of capital in the African technology ecosystem since 2023, a year marked by a significant drop in fundraising for start-ups.
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