Proparco, a subsidiary of the French government's development agency, is directly investing in African start-ups in order to support innovation on the continent and secure returns for the agency, in a move that reflects an increasingly commercial outlook as official development assistance wanes.
Speaking at Africa Day 2025, held at Sciences Po in Paris, Proparco's CEO Franoise Lombard said: "Proparco has committed very strong support to the African innovation system - we have supported the majority of pan-African venture capital funds, such as TLCom and Partech, but also more regional funds. Proparco has also supported around 40 startups directly."
Proparco's direct investments in African startups range from pre-series A funding up to Series D, with investments starting from 1m. Startups must demonstrate at least 400,000 in annual revenues and the ability to expand outside their domestic market.