Between September 21 and 25, 2026, the Saïd Business School at the University of Oxford hosted the fifth consecutive Africa Venture Finance Programme (AVFP). The flagship initiative gathered over 40 African and Africa-focused venture capital fund managers from 14 countries to strengthen investment expertise, foster peer exchange, and expand financing for innovative, technology-enabled businesses across the continent.
Closing the Venture Capital Gap at Oxford
Africa represents a landscape of vast economic potential driven by its entrepreneurs, expanding markets, and growing adoption of technology. Yet, the continent continues to capture only a small share of global venture capital. To bridge this divide, the AVFP brings together early and growth-stage fund managers for a rigorous academic model combining research, practical experience, and confidential peer exchange. Delivered over five days in late September 2026, the programme equips investors with the specialized tools needed to identify high-potential startups and connect them with further investment.
Here is why that matters: while capital is a fundamental requirement for economic growth, monetary injections alone cannot sustain complex startup ecosystems. Fund managers require the judgement, operating capabilities, and networks to back ambitious companies through different stages of growth. By convening at Oxford, investors build a trusted infrastructure for sharing strategies tailored to distinct regional markets.
| Metric / Feature | Details |
|---|---|
| Dates | 21–25 September 2026 |
| Location | University of Oxford, Saïd Business School |
| Participants | More than 40 African and Africa-focused fund managers (Drawn from 14 countries) |
| Cumulative Reach | Over 200 alumni from 20 countries and 80 venture capital firms |
| Core Backers | European Investment Bank (EIB) Global, KfW, and European Commission |
Institutional Backing and the Global Gateway Strategy
The fifth edition of the AVFP underscores a concerted international effort to mobilize resources for African entrepreneurship. Two main technical assistance instruments underpin the initiative: the Boost Ventures in Africa Technical Assistance, which is managed by the European Investment Bank Advisory with backing from the European Commission, and the AfricaGrow Technical Assistance Facility, supplied through KfW and supported by the German Federal Ministry for Economic Cooperation and Development (BMZ).
These efforts directly advance the European Union’s broader Global Gateway investment strategy and contribute to Team Europe investing in young businesses in Africa. Andrew Mc Dowell, Director General of EIB Global, emphasized the developmental stakes of the initiative during the proceedings.
“Across Africa, entrepreneurs are building businesses with the potential to transform markets, create jobs and address pressing challenges,” Mc Dowell stated. “The Africa Venture Finance Programme supports the fund managers who can turn that opportunity into investment, helping promising companies secure capital, scale and deliver lasting economic value.”
Expanding Financial Infrastructure for Emerging Markets
Beyond the academic sessions at Saïd Business School, institutional partners used the sideline of the event to unveil the launch of a successor initiative titled Boost Ventures in Africa. This framework is supported by a guarantee from the European Commission worth €129 million to cover all fund investments.
Operating alongside this, an initial allocation of €4,5 million from the European Fund for Sustainable Development Plus (EFSD+) will provide technical assistance aimed at empowering both seasoned and new fund managers alongside their portfolio startups. Peter Ellersiek, AfricaGrow / Allianz Global Investors, Impact Investments Director, noted the vital necessity of pairing capital with operational capability.
“Capital is essential, but it is not sufficient on its own,” Ellersiek noted. “Strong fund managers need the judgement, operating capabilities and networks to back ambitious companies through different stages of growth.”
Building a Lasting Continental Alumni Network
Following the conclusion of the 2026 AVFP cycle, the community of graduates now counts upwards of 200 fund managers originating from 20 nations and representing 80 venture capital organizations. For participants, the ongoing value of the programme lies in the collaborative relationships forged away from home markets.
Dr. Ola Brown, General Partner at HealthCap Africa and AVFP Alumnus, reflected on the enduring impact of the gathering. “The value of the AVFP goes far beyond the week in Oxford,” Brown noted. “It brings together investors who face similar challenges across different markets and creates a trusted space to exchange ideas openly. Some of the relationships I built through the programme have continued long afterwards, becoming a source of advice, collaboration and new opportunities.”
As these investors return to their respective home markets armed with expanded institutional backing and refined expertise, the growing maturity of Africa’s venture capital sector points toward a more interconnected and resilient economic future.
