The African Venture Philanthropy Alliance (AVPA) was unveiled this month, which has been described as a unique network for social investors to fund innovative organisations tackling the continent’s social, environmental and economic challenges.
Headquartered in Nairobi, Kenya, the AVPA will be modelled the European Venture Philanthropy Association (EVPA) and the Asian Venture Philanthropy Network (AVPN)
AVPA Chairman, Olayemi Cardoso said: ‘The founders of AVPA believe it is now time to build a robust network of African social investors to help unlock new capital for positive social impact.’
In its launch phase the AVPA is seeking seed funding of $1.5 million per year from founding partners. Olayemi added, ‘Simply put, AVPA membership will be open to parties with resources in the form of financial, human and/or intellectual capital is driven by the aspiration to deploy that capital effectively to generate significant social impact.’
The network is aiming to support members with a ‘robust portfolio of critical services’ including a knowledge hub for research, an events programme and a deal share platform to connect investors and organisations to the EVPA and AVPN.
For more see: https://www.standardmedia.co.ke/