L’Oréal has announced an investment fund in Partech Africa. The investment fund launched early 2018 within Partech, and it is meant for the development of “Tech” projects in Africa.
Partech is a global investment firm, financing a wide range of technologies and businesses for enterprises and consumers, from software, digital brands and services, to hardware and deep tech across all major industries.
In 2018 Partech launched an Africa-focused fund which will look to provide early-stage funding to promising start-ups and founders on the continent. The fund targets a total amount of $100 million, making it one of the largest Africa-focused funds.
This investment is an addition to L’Oréal’s previous investments in venture capital funds (Partech International Ventures, Founders Factory, Raise Investissement).
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L’Oréal will be able to forge partnerships with startups and entrepreneurs active in the development of innovative products and services that will facilitate access to consumers located in remote areas or informal environments.
“With Partech Africa, we want to support these talented entrepreneurs who invent new technological uses in all areas, distribution and consumption,” said Alexandre Popoff, Executive Vice-President Eastern Europe and Africa, Middle East. He continued, “L’Oréal is very happy to contribute to the development of young companies in Africa and to seize what is starting.”
Partech Africa is supported by major financial institutions led by IFC, member of the World Bank Group, the European Investment Bank (EIB) and Averroès Finance III (fund of funds managed by Bpifrance and co-sponsored by Proparco).
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