News > Investors IFC launches new VC platform Anna Lyudvig 150 Word count: 454 IFC has launched a new $225m platform to strengthen venture capital ecosystems and invest in early-stage companies addressing development challenges through technological innovations in climate, health care, education, agriculture, e-commerce, and other sectors in Africa, Middle East, Central Asia, and Pakistan. In 2021, these regions collectively received less than 2% of $643bn of global venture capital funding. “IFC’s Venture Capital Platform will help tech companies and entrepreneurs expand during a time of capital shortage, creating scalable investment opportunities and backing countries’ efforts to build transformative tech ecosystems. IFC will also use the platform to collaborate with other teams in the World Bank Group to create and bolster venture capital ecosystems through regulatory reforms, sector analyses, and other tools. In addition, IFC will mobilize capital from other development institutions and the private sector to support entrepreneurs and tech companies in those countries.

Source: The North Africa Journal November 22, 2022 21:48 UTC