Africa Finance Corporation commits up to $100 million to Africa-focused technology fund managers

Africa Finance Corporation has approved a commitment of up to $100 million to invest in Africa-focused technology fund managers, in a move aimed at helping expand local institutional capital for the continent's startup ecosystem.

The corporation said on May 18, 2026 that its board approved the commitment and that the first tranche includes anchor commitments to Lightrock Africa Fund II and Future Africa Fund III.

AFC said the strategy is designed to support Africa's digital industrialisation and help crowd in more institutional capital for technology investing on the continent.

Independent coverage from TechCabal and Africa Private Equity News confirmed the same commitment and the two named initial fund targets.

The announcement adds AFC to a growing group of institutional investors backing African venture capital managers rather than investing only directly into startups. The company did not say in the announcement how quickly the full amount will be deployed or whether additional fund commitments will follow soon.