AfricInvest, a private equity firm based in Tunisia has partnered with Cathay Capital, a global private equity firm based in Paris to form the Cathay AfricInvest Innovation Fund which is expected to have $168 million fund. The fund will focus on fintech, logistics, AI, agtech, and edutech. Investments in African startups are expected to commerce in 2019 and the new fund may open an office in Johannesburg, South Africa. Cathay Capital currently has €2.5 billion in assets under management and various offices in the USA, Europe, Asia, and the Middle-East.
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