FMO proposes €4.4m commitment

The Dutch development bank backs a fund to address opportunities through technology development in Africa.

Institution: FMO
Headquarters: The Hague, Netherlands
AUM: €9.00bn
Allocation to alternatives: 70.8%
Bitesize: €10m-€50m

FMO has proposed a €4.4 million commitment to Africa-focused investment fund Cathay AfricInvest Innovation.

The fund, a joint venture between Africinvest and Cathay Innovation, will invest in late-stage innovative and tech-enabled businesses in Africa.

The €9 billion Dutch development bank has a 30 percent allocation to private equity and committed to another Africa-focused fund in early 2019.

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