*Data updated daily at 18:00 EAT
The Mastercard Foundation Africa Growth Fund (MFAGF), a fund that works through African investment vehicles to support early-stage, growth-oriented SMEs on the continent, launched today with a committed USD 200 Mn. So far, the fund has recruited two investment vehicles supporting entrepreneurial growth- one in East Africa and one in West Africa.
The fund’s goal is to enable dignified and fulfilling work for young people, particularly young women. The fund-of-funds is bold and catalytic, helping to crowd in capital for African entrepreneurs by strengthening and de-risking African investment vehicles committed to advancing gender equity in entrepreneurship. In addition to providing capital for investment vehicles, the MFAGF will offer a business development facility for their portfolio companies.