CDC Group, the United Kingdom’s development finance institution, is upping its focus on venture capital, having established a VC investment committee in mid-January.
It has so far invested $140 million across 11 VC funds. The money will be focused on “key technology hubs” in Africa and South Asia.
Why now? “Early-stage companies require relatively small amounts of capital but have an inherently higher-risk profile than growth and late stage investments,” a spokesperson said. “Evaluating investments in this sector required a distinct set of skills and experiences so we felt it was prudent to create a dedicated Committee made up of members with that specific background to oversee our VC investment operations.”