PROJECT

Projects

Summary of Investment Information

Project Number

44399

Company Name

MI HOLDING LIMITED

Date SPI Disclosed

Jan 3, 2022

Country

Nigeria

Region

Africa

Projected Board Date

Feb 3, 2022

Environmental Category

FI-3 - No Impact

Status

Pending Signing

Last Updated Date

Sep 30, 2022

Department

Disruptive Tech, Service & Funds

Industry

Funds

Previous Events

Approved : Apr 4, 2017

Sector

Venture Capital Fund

Additional Project Attributes

Blended Finance

Project Description

IFC is considering an investment of up to US$3 million in Microtraction Fund II (the ‘Fund’) through the Startup Catalyst Program. Microtraction Fund II is a $15 million seed stage fund focused on pre-seed and seed stage investments in tech and tech-enabled businesses in Sub Saharan Africa.

The Fund will be supported by the Blended Finance Facility (BFF) of the IDA18 IFC-MIGA Private Sector Window (IDA PSW), created by the Word Bank Group to catalyze private sector investment in IDA countries, with a focus on fragile and conflict-affected states.

Associated Advisory Engagement

      

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation