Swedfund has committed $15 million to Lightrock Africa Growth Fund II. The Swedish development finance institution will back growth-stage companies across Africa. The fund targets technology-driven businesses that expand access to essential services.
Where the money goes
The fund focuses on companies using technology to close gaps in financial inclusion, digital infrastructure, and sustainable mobility. It plans to support businesses that improve access to services for individuals and small and medium-sized enterprises. Portfolio companies should also expand operations while serving underserved markets.
Growth-stage needs
Many African startups and small businesses struggle to find long-term financing beyond early-stage venture capital. Lightrock Africa Growth Fund II will provide capital to growth-stage companies with established business models. The commitment may help those companies expand into new markets.
Who is involved
Lightrock is a global investment platform that backs technology-enabled companies. It invests in public and private companies across the themes of people, planet, and productivity. Swedfund expects the investment to create jobs and strengthen local economies.
Swedfund also sees potential for further private capital mobilization. The investment is part of its strategy to support private-sector development in markets with limited commercial financing. It expects funded companies to deliver essential services more efficiently.