Editor’s note: African-Startups is a sister publication of EU-Startups, bringing trusted coverage of startups, venture capital, and innovation across Africa.
The African Development Bank (AfDB) has opened applications for a capacity-building programme that teaches African institutions how to invest in venture capital funds.
It is run by the bank’s Innovation and Entrepreneurship Lab (IEL) and delivered by I&P Ecosystems, which the bank picked as its implementing partner. The IEL comes under the AfDB’s Human Capital, Youth and Skills Development Department.
It is a flagship initiative of the Jobs for Youth in Africa Strategy and a core part of the Boost Africa Programme, a partnership between the AfDB and the European Investment Bank.
Boost Africa finances high-potential startups and strengthens entrepreneurship ecosystems across the continent.
The programme will train 80 capital providers to assess a fund, size a first investment and defend the case at an investment committee. Notably, the participation is free.
Many African institutions hold large assets, but most of the money sits in government debt and listed markets. Many mandates allow venture capital, yet few institutions have made a first allocation. Fund managers who need long-term local money often end up raising it abroad.
The programme names six barriers that hold domestic capital back:
- Few investment teams have run due diligence on a venture fund or sized a first commitment.
- Venture rarely fits existing approval processes, risk limits or reporting cycles.
- Many institutions have room to allocate under the rules but get little internal guidance.
- Ten-year lock-ups sit badly against liability matching and short reporting horizons.
- Access to fund managers, experienced investors and a credible pipeline is limited.
- Few peers exist to compare notes with or to test an allocation case before committee.
The programme runs online over three months. It has eight two-hour webinars led by practitioners, followed by a two-day bootcamp. The topics are:
- venture capital basics, including fund lifecycle, power laws and portfolio construction
- deal terms, valuation, dilution and what investors should expect on ESG and impact
- fund strategy and due diligence
- fund structure and economics, including fees and carried interest
- sizing a first ticket, co-investments and direct deals
The bootcamp uses real African fund cases, investor due diligence exercises and investment committee simulations. Participants are grouped by type, so a regulated pension fund, a corporate venture arm and a family office each work through the rules that apply to them.
Everyone gets access to a community of more than 50 domestic and international capital providers. Some participants will have their attendance sponsored at the next LP Peer Group convening.
The programme is open to pension funds, insurers, sovereign wealth funds, banks, corporates and corporate venture arms, family offices, foundations, local development finance institutions and asset managers.
Applicants must be headquartered in Africa, deploy capital in Africa, and already invest in venture capital or be working towards a first allocation.
They should apply through decision-makers such as chief investment officers, heads of investment, investment committee members and portfolio managers. They must also commit to all eight webinars, the bootcamp and the baseline and endline surveys.
More than one person per institution can apply, with priority given to need and decision-making role. Women and professionals under 35 are strongly encouraged to apply.
Applications close on 13 November 2026. Selected participants will be announced on 20 November, followed by a two-week needs assessment.
The programme runs from December 2026 to February 2027. Applications can be made through the online form, and questions can be sent to info.lpfellowship@ietp.com.
