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Debt & Specialty Finance
FINANCE | Investment Banking
ifc.org

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Investments

453

Portfolio Exits

64

Funds

14

Partners & Customers

10

About International Finance Corporation

International Finance Corporation (IFC), a member of the World Bank Group, is a global development institution focused exclusively on the private sector in developing countries. As the private equity and venture capital arm of World Bank, IFC specializes in both direct and fund investments. It seeks to invest in early stage companies.

International Finance Corporation Headquarter Location

2121 Pennsylvania Avenue NW

Washington, DC, 20433,

United States

+1 202 473 1000

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International Finance Corporation Web Traffic

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Latest International Finance Corporation News

The Next Wave: How development agencies are investing in Africa’s tech ecosystem

Jun 27, 2022

Image source: Techcabal June 19, 2022 The Next Wave provides a futuristic analysis of BizTech and innovation in Africa. Subscribe here  to get it directly in your inbox on Sundays at 3 PM (WAT). Over the past 2 weeks, I’ve attended 2 major conferences: VivaTech in Paris and the European Development Days (EDD) in Brussels. During my time at these conferences, I realised that funding and support for African startups and the tech ecosystem don’t just come from investment firms, angel investors, corporates, and tech hubs. There are other players. It’s popular to define progress in the African tech ecosystem by the amount of venture funding raised, but the conversations I had made me wonder whether it was also worth measuring this progress in relation to the activities of development agencies and governmental organisations. Partner Message You are invited to an upcoming virtual pitch & conference organized by the Japan International Cooperation Agency (JICA) Nigeria Office in partnership with Nikkei Inc. Kindly register your interests  here . Development agencies—international and local non-governmental organisations—are tasked with fostering the socio-economic development of different countries, but now more than ever they are realising that leveraging technology is a no-brainer. The International Finance Corporation (IFC), the largest global development institution focused exclusively on the development of the private sector, might be more popular for financing roads, ports and other infrastructure across Africa but over the past 60 years has been it has invested about  $10 billion  in the private sector, working with small and medium enterprises (SMEs) to create jobs and improve livelihoods. In 2020, it led the World Bank Group #GlobalTechChallenge initiative to match early-stage health tech innovators with healthcare providers in East Africa. Some of these health tech companies were also provided with funding. Source: Fikayo Idowu, TechCabal Insights. To reduce the financing gap women entrepreneurs still face, in January the IFC launched the  ScaleX program  that incentivises accelerators to help women-led companies in emerging markets raise equity financing by awarding deserving accelerators up to $25,000. Three years after leading a  $8.6 million  Series A Investment in Africa’s Talking, the IFC recently  backed  ride-hailing startup Gozem with $10 million to finance 6,000 vehicles in Togo and Benin. Closely related to this is the work the International Trade Centre does toward making global prosperity a reality by connecting small businesses in developing countries to international markets. This entails that it has  projects  in Benin, Côte d’Ivoire, Mali, Uganda, Zambia, and other African countries that focus on the creation of sustainable jobs in the digital technologies sector, and the modernisation of agribusiness through digital technologies. Advisory services can play an important role in shaping the allocation of vast amounts of resources. In this vein, the  AU-EU D4D Hub  primarily aids African governments with strategy formulation and frameworks for digital transformation. In the 2 years since it launched, the AU-EU D4D Hub has conducted feasibility studies in Uganda and Rwanda, as well as learning sessions with the Tanzanian government. Germany’s Gesellschaft für Internationale Zusammenarbeit (GIZ)  make-IT project  develops and implements accelerator and funding programmes across 18 countries on the continent, according to a  2017-2019 impact report Source: Fikayo Idowu, TechCabal Insights. With an estimated number of over 300 million French speakers across 5 continents, the  International Organisation of La Francophonie  (OIF), which was created in 1970, is  increasing its efforts  to give francophone African startups more visibility and attract funding. Senegal’s  Délégation Générale à l’Entreprenariat Rapide des Femmes et des Jeunes  (DER) since 2018 has been investing in the country’s tech environment, granting about 60 billion FCFA (~$96,424,000) out and helping transform the Senegalese tech ecosystem. Many other African country governments like Mauritius, Congo, Tunisia, Ghana, and  Rwanda  have initiatives to spur the tech ecosystem in their country. It can be challenging to quantify the impact of some of these projects and programmes—training sessions or sponsorship of startups to conferences, for example—but they sure lead to business leads and investment opportunities. The attention that African startups are receiving from developmental and international agencies is a testament to the capability of these startups to spread innovation and produce tailor-made solutions for some of Africa’s biggest problems. Partner Message Applications are now open for the Decentralized Umoja Algorand Bounty Hack III, by  Algorand  and  Reach . The Africa-focused hackathon is an excellent opportunity for developers to learn & build blockchain projects—prizes of up to $6,000 to be won, including a $1,000 participation prize. Applications are  open here  until 15th July 2022. What’s next? Better awareness of the different players and activities in the African tech ecosystem creates room for collaboration. For instance, during the European Development Days, I witnessed an intro conversation between representatives of the ITC and African European Digital Innovation Bridge (AEDIB) Initiative concerning their projects. The ITC is working on  mapping the tech hubs in Africa , while the AEDIB is building  digital innovation hubs —a virtual cluster of innovation centres such as tech hubs, research institutes, universities and others in a community. Since they were working on solving a similar problem, at different levels, it created a perfect opportunity for a partnership. One way to scale the impact of the investment activities of development agencies in the Africa tech ecosystem is to increase similar partnerships between them and other players such as tech hubs, universities, and research institutes. From the Cabal Have a great week. Thank you for reading The Next Wave. Please share today’s edition with your network on WhatsApp, Telegram and other platforms, and reply to this email to let us know what we can be better at. Subscribe to our TC Daily Newsletter  to receive all the technology and business stories you need each weekday at 7 AM (WAT). Follow TechCabal on  Twitter ,  Instagram ,  Facebook , and  LinkedIn  to stay engaged in our real-time conversations on tech and innovation in Africa. Daniel Adeyemi, Senior Writer, TechCabal. Share this article

International Finance Corporation Investments

453 Investments

International Finance Corporation has made 453 investments. Their latest investment was in BlaBlaCar as part of their Unattributed on June 6, 2022.

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International Finance Corporation Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/16/2022

Unattributed

BlaBlaCar

$15M

Yes

2

6/13/2022

Debt

Gozem

$10M

Yes

4

6/13/2022

Unattributed

Avacare Health

$28.6M

Yes

1

6/9/2022

Series C

Subscribe to see more

$99M

Subscribe to see more

10

6/7/2022

Series B

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/16/2022

6/13/2022

6/13/2022

6/9/2022

6/7/2022

Round

Unattributed

Debt

Unattributed

Series C

Series B

Company

BlaBlaCar

Gozem

Avacare Health

Subscribe to see more

Subscribe to see more

Amount

$15M

$10M

$28.6M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

4

1

10

10

International Finance Corporation Portfolio Exits

64 Portfolio Exits

International Finance Corporation has 64 portfolio exits. Their latest portfolio exit was Centrais Eletricas de Sergipe on June 01, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/1/2022

Acquired

$99M

4/18/2022

Corporate Majority

$99M

11

4/1/2022

Corporate Majority

$99M

1

2/25/2022

Merger

Subscribe to see more

$99M

Subscribe to see more

10

12/8/2021

Reverse Merger

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/1/2022

4/18/2022

4/1/2022

2/25/2022

12/8/2021

Exit

Acquired

Corporate Majority

Corporate Majority

Merger

Reverse Merger

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

11

1

10

10

International Finance Corporation Acquisitions

8 Acquisitions

International Finance Corporation acquired 8 companies. Their latest acquisition was Eastcastle Infrastructure on June 29, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

6/29/2021

$99M

Acq - Fin

4

3/3/2020

Other Venture Capital

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$99M

$99M

Subscribe to see more

10

11/22/2019

Subscribe to see more

$99M

Subscribe to see more

10

4/3/2018

Subscribe to see more

$99M

Subscribe to see more

10

5/6/2014

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/29/2021

3/3/2020

11/22/2019

4/3/2018

5/6/2014

Investment Stage

Other Venture Capital

Companies

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acq - Fin

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

4

10

10

10

10

International Finance Corporation Fund History

14 Fund Histories

International Finance Corporation has 14 funds, including Startup Catalyst.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/19/2016

Startup Catalyst

Fund Of Funds

Closed

$30M

1

8/1/2016

Emerging Asia Fund

$200M

2

10/8/2013

IFC Global Infrastructure Fund LP

REAL Assets

Closed

$1,200M

1

1/25/2013

IFC Climate Catalyst Fund LP

Subscribe to see more

Subscribe to see more

$99M

10

12/31/2010

IFC African, Latin American & Caribbean Fund LP

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Subscribe to see more

$99M

10

Closing Date

10/19/2016

8/1/2016

10/8/2013

1/25/2013

12/31/2010

Fund

Startup Catalyst

Emerging Asia Fund

IFC Global Infrastructure Fund LP

IFC Climate Catalyst Fund LP

IFC African, Latin American & Caribbean Fund LP

Fund Type

Fund Of Funds

REAL Assets

Subscribe to see more

Subscribe to see more

Status

Closed

Closed

Subscribe to see more

Subscribe to see more

Amount

$30M

$200M

$1,200M

$99M

$99M

Sources

1

2

1

10

10

International Finance Corporation Partners & Customers

10 Partners and customers

International Finance Corporation has 10 strategic partners and customers. International Finance Corporation recently partnered with Monetary Authority of Singapore on June 6, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

6/17/2022

Partner

Singapore

1

6/12/2022

Partner

Singapore

1

6/10/2022

Client

1

6/7/2022

Partner

United States

Subscribe to see more

Subscribe to see more

10

6/6/2022

Partner

Subscribe to see more

Subscribe to see more

10

Date

6/17/2022

6/12/2022

6/10/2022

6/7/2022

6/6/2022

Type

Partner

Partner

Client

Partner

Partner

Business Partner

Country

Singapore

Singapore

United States

News Snippet

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

1

1

1

10

10

International Finance Corporation Team

31 Team Members

International Finance Corporation has 31 team members, including current Chief Executive Officer, Matthew Gamser.

Name

Work History

Title

Status

Fares Zaki

Founder

Current

Matthew Gamser

Chief Executive Officer

Current

Philippe Le Houerou

European Bank for Reconstruction and Development (EBRD), and World Bank

Chief Executive Officer

Current

George Wanyoike

Chief Financial Officer

Current

Luc Grillet

Chief Operating Officer

Current

Name

Fares Zaki

Matthew Gamser

Philippe Le Houerou

George Wanyoike

Luc Grillet

Work History

European Bank for Reconstruction and Development (EBRD), and World Bank

Title

Founder

Chief Executive Officer

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Status

Current

Current

Current

Current

Current

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