FSDAi Nyala Facility BV, backed by FSD Africa Investments, has invested $1 million in First Circle Capital Africa Fund I, promoting early-stage fintech companies in Africa. First Circle Capital is a venture capital firm specializing in sectors like insurtech, financial infrastructure, and climate fintech, with a portfolio of 13 investments across seven African markets, underscoring its dedication to fostering innovative fintech solutions on the continent.
Anne-Marie Chidzero, Chief Investment Officer at FSDAi Nyala Facility, expressed her enthusiasm for supporting the “remarkable female investors” leading First Circle Capital. She commended the fund’s expertise in fintech and its ability to attract further institutional investment.
With Africa’s fintech sector poised for rapid growth, the fund aims to extend financial services to underserved communities and small and medium-sized enterprises (SMEs), fueling economic progress and societal resilience. First Circle Capital seeks to diversify fintech investments beyond the payments segment, aiming to empower individuals and SMEs with a broader range of financial products.
Operating from Kampala and Casablanca, First Circle Capital leverages its experience and network to provide comprehensive support to its portfolio companies. The Africa Fund I is supported by FSDAi Nyala Facility, the Axian Group, and other prominent entrepreneurs and investors, setting the stage for continued growth and impact.
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