📋 Tender Overview
Project Number
49845
Company Name
ISC-Flat 6 Labs Africa Seed Fund I
Date SPI Disclosed
Jan 31, 2025
Country
Egypt, Arab Republic of
Region
Africa
Projected Board Date
May 31, 2025
Environmental Category
FI-2
Status
Pending Approval
Last Updated Date
Department
Disruptive Tech, Service & Funds
Industry
Funds
Sector
Other Non-Private Equity Fund
Additional Project Attributes
Blended Finance
Description: Project Description
IFC is considering an equity investment of up to US$6 million, processed under the IFC Startup Catalyst Program ( ISC ), in Africa Seed Fund Coöperatief U.A. ( Flat6Labs Africa or the Fund ), a Netherlands-based accelerator and VC fund focusing on pre-Seed/Seed stage investments in North, West, and East Africa. The Fund has a target size of US$85 million. The Fund will be managed by Flat6Labs For Financial Consulting S.A.E. ( Flat6Labs or the Fund Manager ). The Fund will be supported by the Blended Finance Facility ( BFF ) of the Women Entrepreneurs Finance Initiative ( WeFi ).
Associated Advisory Engagement
The Project will benefit from an advisory package which will support the Fund’s gender strategy and its expansion into more challenging and strategic fragile and conflict-affected states.
