This €110 million VC fund for Africa is now prioritizing startups that can break even quickly ...Middle East

Quartz - Economy
This €110 million VC fund for Africa is now prioritizing startups that can break even quickly
source : Quartz ( Middle East ) () 38
In 2019, two private equity firms came together to form a venture capital fund to invest in African startups. That had been a record-breaking year for VC funding in Africa with $1.3 billion invested in startups, and so it made sense that new funds would emerge to ride the wave.But even as this year’s VC climate has become uncertain, Cathay AfricInvest Innovation Fund (CAIF) wants to find startups that have the potential to break even quickly. “In addition to our usual criteria, specifically traction of the topline, we will be analyzing the capacity of the companies we will be investing in to break even in the shorter term versus in the longer term,” Khaled Ben Jilani, senior partner at Afric

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