Speedinvest, the Vienna-based VC firm, has formalised a €40m commitment from EIB Global for a dedicated Africa venture fund, the firm announced following a signing ceremony at its Vienna headquarters attended by EIB Vice-President Karl Nehammer. The fund, registered in EIB project pipelines as the Speedinvest Africa Fund has a target size of EUR 200 million (approx. 230 USD) and will back early-stage startups deploying fintech and financial technology-enabled services across payments, lending, health, education, and mobility in both North and Sub-Saharan African markets.
The deal is structured as an equity investment into the new vehicle rather than a direct co-investment arrangement, with EIB Global taking a limited partner position at first close. The bank’s commitment is designed to catalyse additional fundraising from other institutional investors and development finance institutions at a moment when emerging-market VC fundraising has remained difficult globally.
“Africa is home to some of the most impressive entrepreneurial success stories globally. By combining local presence with Speedinvest’s global network of operators, sector expertise, and follow-on capital, we aim to help founders scale regionally and internationally.”
— Oliver Holle, CEO and Managing Partner, Speedinvest
Oliver Holle, Speedinvest’s co-founder, CEO and Managing Partner, pointed to Moove — a mobility fintech the firm backed early and which has since raised over $460m in equity and debt — as evidence of the thesis. Moove, founded in Lagos in 2020 by Ladi Delano and Jide Odunsi, has expanded to 19 markets across Africa, the Middle East, Europe, Asia and Latin America, and was pursuing a fresh $300m equity raise at a reported valuation exceeding $2bn as of late 2025.
Read more: https://launchbaseafrica.com/2026/03/16/europes-eib-backs-speedinvest-to-channel-230m-into-african-fintech-startups/
