EBRD invests $8 mln in fund targeting Egypt, 4 African markets to drive innovation, jobs

27 / 08 / 2026

By Marwa Nassar - -

The European Bank for Reconstruction and Development (EBRD) is investing $8 million (€6.8 million) in Ventures Platform Pan-African Fund II, which will back early-stage technology companies in Egypt, Côte d’Ivoire, Morocco, Nigeria, and Senegal to support innovation, job creation, and private-sector growth.

The investment marks the EBRD’s first commitment to a pan-African venture capital fund assessing opportunities across sub-Saharan Africa.

Egypt among fund’s key markets:

Egypt is one of five African markets targeted by the fund, highlighting the country’s role in the EBRD’s expanding efforts to support technology companies, innovation, and access to finance across the continent.

The investment is part of the EBRD’s €200 million Early-Stage Innovation Facility II, through which the Bank invests in commercially oriented venture capital funds.

The facility supports high-potential technology companies and fund managers working to expand access to finance, strengthen innovation ecosystems, and accelerate private-sector growth.

Backing Africa’s next generation of tech companies:

Kola Aina, Founding Partner of Ventures Platform, welcomed the EBRD as an investor, saying the commitment reflects growing institutional confidence in Africa’s innovation economy.

“Africa’s next generation of globally relevant technology companies will be built by founders solving meaningful problems and creating new markets,” Aina said.

He added that the EBRD’s participation goes beyond providing capital, strengthening the fund’s ability to support ambitious founders building companies that create value for Africa and the world.

The EBRD’s investment alongside other development finance institutions, international financial institutions, and private investors also strengthens Africa’s venture capital ecosystem and reflects confidence in the long-term growth prospects of African technology companies.

EBRD expands its footprint in Africa:

Dirk Werner, the EBRD’s Managing Director of Equity, said innovation is increasingly shaping Africa’s economic future, while venture capital remains underdeveloped compared with the scale of entrepreneurial activity across the continent.

“By investing in Ventures Platform Pan-African Fund II, we are helping to strengthen the market infrastructure that enables innovative businesses to access growth capital and scale their impact,” Werner said.

The EBRD began investing across five sub-Saharan African countries in 2025 and has invested €620 million in the region in less than a year, expanding its support for innovation and private-sector development across African markets.