📋 Tender Overview
Project Number
50963
Company Name
First Circle Capital
Date SPI Disclosed
May 9, 2025
Country
Africa Region
Region
Africa
Projected Board Date
Jun 9, 2025
Environmental Category
FI-2
Status
Pending Approval
Last Updated Date
Department
Disruptive Tech, Service & Funds
Industry
Funds
Sector
Venture Capital Fund
Additional Project Attributes
Blended Finance
Project Description
The proposed project consists of an IFC equity investment of up to US$4 million in First Circle Africa Fund I (the Fund ), a female-led, pan-African venture capital ( VC ) fund focused on pre-seed and seed-stage investments in FinTech companies across Africa. The Fund targets high-potential sectors including FinTech SaaS, InsurTech, Alternative Lending Models, Interoperability & Infrastructure, and Climate FinTech. It aims to raise US$25 million, with a hard cap of US$30 million. In addition, IFC, as the implementing entity of the Women’s Entrepreneurs Finance Initiative (We-Fi), will commit up to US$2 million as a limited partner in the Fund ( the BF co-investment ).
