Strengthening Africa’s Venture Capital Landscape: Oxford University Hosts Leading VC Fund Managers

This article is published in association with European Investment Bank

• More than 40 leading African venture capital fund managers to take part in “Africa Venture Finance Programme” at Oxford University’s Saïd Business School
• The 1–5 September programme supports VC funds investing in technology and tech-enabled companies across Africa
• Organized by EIB Global and supported by AfricaGrow, programme course is tailored for fund managers investing on African continent
• Over 150 of Africa’s most relevant venture capital fund managers have participated in the programme

Strengthening the venture capital landscape in Africa and supporting the growth of technology and tech-enabled enterprises will be the focus of the Africa Venture Finance Programme (AVFP), taking place from 1–5 September 2025 at Oxford University’s Saïd Business School.

The in-person executive programme brings together more than 40 of Africa’s leading venture capital fund managers — nearly half of them women — for a week of peer learning, skills development, and strategic dialogue. The programme is designed specifically for VC funds investing in early- and growth-stage technology and tech-enabled companies across Africa. It is a key platform for enhancing the skills of Africa-focused venture capital fund managers and promoting a more inclusive, connected, and capable investment ecosystem across the continent.

Now in its fourth edition, the AVFP is delivered by Boost Africa — a program of the European Investment Bank’s development arm (EIB Global) and African Development Bank, with support from the European Commission and the Organization of African, Caribbean & Pacific States (“OACPS”) — and the AfricaGrow Technical Assistance Facility, funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) through KfW/DEG.

Following this edition, over 150 of Africa’s most relevant venture capital fund managers will have participated in the programme, representing the lion’s share of active VC funds on the continent. These alumni form a vibrant and engaged community that continues to collaborate and exchange knowledge on an ongoing basis.

As part of the programme, investors, Development Finance Institutions (DFIs)— including the EBRD, Proparco, the Arab Fund, FCDO, and British International Investment (BII), will take part. These sessions are designed to foster dialogue with African General Partners (GPs) and explore opportunities to strengthen the continent’s venture capital infrastructure.

Senior partners from three established VC firms — TLcom, Partech, and AfricInvest — will engage with the DFI community on current challenges and opportunities in the African VC landscape, including access to capital, fund performance, and capacity-building to support portfolio growth.

“Boost Africa is about more than just finance – it’s about building resilient economies, fostering innovation and creating inclusive growth through smart, targeted investment,” said EIB Vice-President Ambroise Fayolle. “Enterprises supported under the initiative are attracting more funding, closing more deals and helping build thriving innovation ecosystems. Sharing investment best practices with our partners, for sustainable impact across Africa through avenues like AVFP is essential.”

Africa receives only 1% to 2% of global venture capital while representing 18% of the world’s population. In addition, relatively few African-led startups receive significant funding.

“Africa’s innovation potential is immense, and venture capital is the bridge to unlocking it,” said Peter Ellersiek, AfricaGrow’s Investment Director. “By equipping fund managers with equity capital, right tools, and networks, we’re not just strengthening the investment ecosystem—we’re opening doors to transformative business opportunities that can drive inclusive growth across the continent.”

The programme is designed and led by Oxford academics, featuring discussions on a wide range of topics such as the need for investment models that reflect local realities. It focuses on peer-to-peer knowledge exchange, the sharing of best practices and capacity building.

“At a time when Africa’s entrepreneurial ecosystem is rapidly evolving, the African Venture Finance Programme equips fund managers with the tools, networks, and critical thinking needed to shape the future of capital on the continent,” said Aunnie Patton Power, Programme Director for AVPF, University of Oxford. “This isn’t just about growing funds—it’s about reimagining what finance can do when it’s grounded in context, community, and long-term value creation.”

“By offering early-stage funding and hands-on support to venture capital fund managers, Boost Africa can be a catalyst for transforming Africa’s entrepreneurial landscape,” said Jozef Síkela, European Commissioner for International Partnerships. “This partnership, supported via the Global Gateway strategy, shows the European Union’s strong commitment to helping African startups grow, scale up their innovations, and attract sustainable investment thus promoting inclusive growth, creating jobs, and advancing gender equality.”

Africa’s entrepreneurial ecosystem secured 487 deals in 2024, according to the African Private Capital Association. This included 427 venture capital deals with a value of $2.6 billion and 60 venture debt deals worth $1 billion.

Boost Africa was created to unlock Africa’s entrepreneurial potential by providing technical support to fund managers and addressing an early-stage financing gap.

The initiative has supported six private equity funds as well as more than 70 companies and mobilised over €380 million in capital for startups across the continent. Moreover, 94% of Boost Africa-supported founders were able to raise $1 million or more in funding – nearly double the rate of comparable entrepreneurs.

Background information

About EIB Global

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.  

EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. EIB Global aims to support €100 billion of investment by the end of 2027 — around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through offices across the world. High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.

About Boost Africa

Boost Africa is a joint initiative between the European Investment Bank and the African Development Bank (AfDB) with support from the European Commission and OACPS to enable and enhance entrepreneurship and innovation across Africa in a commercially viable way. It addresses a current gap in the African market by providing early-stage venture capital paired with skills development. Boost Africa focuses on financial intermediaries investing in innovative business models and start-ups developing digital solutions focusing on youth and women and on sectors where innovation can improve the quality of people’s lives.

Boost Africa Technical Assistance Facility, part of the broader Boost Africa programme, provides bespoke support to strengthen the core professional and operational skills of partner fund managers and their investees to realise growth potential among innovative tech startups and high-growth small and medium-sized enterprises (SMEs) in Africa. The facility is funded by the European Commission and the Organisation of African, Caribbean and Pacific States through the 11th European Development Fund. The funding is managed by the EIB and implemented by Adam Smith Europe, part of the Adam Smith International Group.

About AfricaGrow

The AfricaGrow Fund of Funds is a blended finance vehicle managed by Allianz Global Investors and serves as a catalyst for private capital into Africa by providing a de-risked capital structure for institutional investors, fostering indirect investments into African SMEs and startups via local Private Equity and Venture Capital fund investments. Its LPs are DEG, KfW – on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ) and Allianz insurance companies.

As a legally independent entity, AfricaGrow is a central instrument of the Compact with Africa (CwA) initiative, which was launched in 2017 under the 50 German G20 presidency. The Technical Assistance Facility is funded by the German Ministry for Economic Cooperation and Development (BMZ) through KfW, while the fund is managed by Allianz Global Investors and advised by DEG Impact GmbH.