Antler East Africa Fund, a new early-stage investor Antler has reached financial close on a US$13.5-million fund from investors such as Baillie Gifford IFC, Canica and other family offices. The fund was over-subscribed and is intended to support early-stage tech start-ups in the East African region.

Baillie Gifford is an established investment management partnership since 1908, with experience in seeking superior long-term investment returns for its clients. Based in the United Kingdom, Baillie Gifford today is wholly owned by its 51 partners all of whom work within the firm. The result has been a successful business that continues to grow organically with funds under management of £277-billion (US$ 349-billion) in specialist equity, fixed income and multi-asset portfolios for a global client base.

IFC is the finance provider of the World Bank with more than 60 years of experience in unlocking private investment and therefore delivering more than $285-billion in financing for businesses in developing countries.

Canica is a large family-owned investment company operating out of Norway and Switzerland with investments focused on active, long-term ownership, primarily within sectors covering branded consumer goods and services, financial investments, real estate and retail. Canica has invested in large European companies such as Orkla, Komplett, Anora, The Well and the F&H Group among others.