VC firm First Circle Capital secures $6m from IFC to back high-growth fintech across Africa
First Circle Capital, a specialist early-stage venture fund based in Africa and building a concentrated portfolio of high-potential fintech startups across the continent, has secured US$6 million in funding from IFC, part of the World Bank Group.
With offices in Uganda and Casablanca, First Circle Capital backs pre-seed and seed-stage companies solving foundational challenges in financial services. With a deeply thematic approach and a track record of building and backing breakout fintech ventures, First Circle Capital is now raising its latest fund, with a target size of US$30 million.
IFC has now invested US$6 million in that fund, which will support ventures with capital but also operational insight, and early business development assistance to position them for Series A readiness.
