IFC to Invest KSh215 Million in Nairobi Based Antler EA
Date13 Jun 2021//
The International Finance Corporation (IFC), which is part of the World Bank, plans to invest up to $2 million (KSh215 million) in Antler East Africa, a venture capital firm based in Nairobi. The funds will primarily be invested in pre-seed opportunities in East Africa and beyond.
Antler is an early-stage venture capital firm that invests in exceptional entrepreneurs. The company has invested in more than 200 startups throughout the world. Some of its local advisors are Ory Okolloh, the Managing Director at Luminate Group and Peter Njonjo, Co-Founder and CEO of Twiga Foods.
The Nairobi based Venture firm is seeking $15 million (KSh1.6 billion) in capital commitments to support early-stage women-owned startups as well as pre-seed ventures in Kenya and the neighboring economies. IFC intends to put in an equity investment of $1.5 million through Catalyst and $0.5 million through the Women Entrepreneurs Finance Initiative (We-Fi)