Pan-African Venture Capital Firm Future Africa Partners With Prosper Africa
Pan-African Venture Capital Firm Future Africa Partners With Prosper Africa. As the US Africa Summit ended, Future Africa was thrilled to announce its new partnership with Prosper Africa – a US government initiative ‘to increase two-way trade’ between African nations and the US. The Fund for Africa’s Future was selected as one of five beneficiaries.
Through the Prosper Africa initiative, the U.S. Government plans to commit $170 million, pending funding availability, that will be invested alongside U.S. and African companies and investors.These partnerships will boost African exports to the United States by $1 billion and mobilize an additional $1 billion in U.S. investment across the African continent.
To this end, Prosper Africa is announcing five new partnerships with African asset fund managers under a new Catalytic Investment Facility that will mobilize over $200 million in private capital to fuel African innovation and entrepreneurship. These new partnerships – with Fund for Africa’s Future, Altree Capital, Endeavor South Africa, Okavango Capital, and ThirdWay Partners – will invest in small businesses and entrepreneurs that are advancing solutions to global challenges, including climate change and gender inequality.
The combination of these five partnerships, with a focus on addressing global challenges like climate change, food security, and women’s empowerment, will benefit hundreds of thousands of people and generate millions of dollars in revenue for businesses. Companies within the technology, tourism, agriculture, and sustainability industries will harness the opportunity to generate jobs, grow clean energy economies, and build resilient communities. Since 2019, the U.S. Government has helped close 1,100 deals across 49 African countries for a total estimated value of $65 billion.
