AFC Commits USD 100 M To Africa-Focused VC Funds, Backs Future Africa & Lightrock Africa

Africa Finance Corporation (AFC) has approved a USD 100 M commitment to Africa-focused technology fund managers to accelerate the continent’s digital industrialisation and increase local institutional participation in venture capital.

Founded in 2007 and headquartered in Lagos, AFC will deploy capital into African-owned and Africa-focused VC funds spanning early-stage to growth-stage investing. Initial anchor commitments have been made to Lightrock Africa Fund II and Future Africa Fund III.

AFC said the initiative aims to address Africa’s shortage of long-term institutional capital despite the continent producing nine unicorns and attracting USD 3.8 B in startup funding in 2025. The corporation has invested over USD 19 B across 36 African countries since inception.