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Proparco invests US$15 million in Lightrock’s Africa Strategy
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• Proparco is investing US$15 million in Lightrock Africa Growth Fund II (LAGF II).
• The investment, made into a Fund advised by Lightrock, an impact-focused global investment platform, will support growth-stage businesses operating across several key sectors in Sub-Saharan Africa.
• The investment is part of the Choose Africa VC programme, supported by the European Union and the European Fund for Sustainable Development Plus (EFSD+).
Proparco is investing in Lightrock Africa Growth Fund II alongside a group of other leading institutional investors. Proparco is a longstanding investment partner of Lightrock, having previously made a commitment to Lightrock Latam Fund II.
LAGF II will provide growth capital to impact-focused, technology-enabled businesses across Sub-Saharan Africa. Consistent with Lightrock’s approach, the Fund seeks to invest in companies that aim to generate financial returns while delivering measurable positive impact across the platform’s People, Planet and Productivity themes, with a focus on financial services, healthcare, education and retail, among other areas.
Through its investment in LAGF II, Proparco is contributing to the development of the growth equity ecosystem in Sub-Saharan Africa. This investment is aligned with Proparco’s priorities in supporting the transition towards a more sustainable and resilient economy, particularly by promoting women’s inclusion through the 2X Challenge. It also reflects Proparco’s commitment to supporting innovative, high-impact solutions in emerging markets.
Pal Erik Sjatil, CEO & Managing Partner at Lightrock, said: “Proparco and Lightrock share a clear conviction that capital can drive impact, prosperity and resilience in emerging markets. We are very grateful to Proparco for its commitment to LAGF II, which builds on our partnership across other Lightrock strategies. Together, we aim to support growth-stage companies across Sub-Saharan Africa that deliver measurable positive impact while building sustainable businesses.”
The investment is made under the Choose Africa VC programme, a European Union-backed guarantee initiative, implemented by Proparco under the European Fund for Sustainable Development Plus (EFSD+). It supports startups and innovative SMEs across Africa by reducing investment risk and mobilising private capital. By improving access to finance for early-stage companies, the program fosters entrepreneurship, innovation and job creation, contributing to the European Union’s Global Gateway strategy and the Team Europe Initiative on Investing in Young Businesses in Africa (IYBA).
