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$170 million to be invested in African startups

AfricInvest, a Tunisia based private equity firm is partnering with Cathay Innovation, a San Francisco based venture capitalist. The aim of the partnership is to launch “Cathay AfricInvest Innovation Fund”. “Cathay AfricInvest Innovation Fund” will provide an investment of $170 million in edtech startups of Africa and even the non-African startups that are expanding across the region of Africa. Khaled Ben, a senior partner of AfricInvest informed media that $1 million to $10 million will be invested in education startups over multiple rounds. The partnership between both the companies will also look at opportunities in logistics & mobility, fintech, software and energy solutions. This partnership would help in the development of edtech startups which would provide high tech job opportunities in the African region.