The Africa Venture Finance Programme (AVFP) returned for its fourth edition this September, bringing more than 40 leading African and Africa-focused venture capital fund managers to the University of Oxford’s Saïd Business School. For a week, participants will immerse themselves in a curriculum that blended world-class academic insight, hands-on workshops, and peer-to-peer learning designed to strengthen venture finance on the continent.
Organised by the Boost Africa Technical Assistance Facility and the AfricaGrow Technical Assistance Facility, with support from EIB Global and the African Development Bank, the programme has become a cornerstone in building Africa’s venture capital ecosystem.
Closing Africa’s Capital Gap
Africa is brimming with entrepreneurial energy. Yet despite its vast population and growing number of tech-enabled businesses, the continent attracts only a small fraction of global venture capital flows. For fund managers, this gap presents both opportunity and challenge.
“We see immense potential in African startups, but scaling requires fund managers with the tools, networks, and credibility to attract institutional capital,” says David van Dijk, who leads the Boost Africa technical assistance team and has been instrumental in shaping AVFP since its inception.
By focusing on fund managers, the programme addresses one of the most pressing bottlenecks in Africa’s innovation economy.
A week at Oxford
The latest edition of AVFP, will hold from 1–5 September 2025, featuring intensive sessions on fund structuring, portfolio management, and governance. Oxford faculty joins with seasoned investors, development finance institutions (DFIs), and limited partners (LPs) to deliver practical insights.
Participants will engage in case studies, role-play exercises, and networking events designed to foster collaboration. Nearly half of the 40+ fund managers are women, underscoring the programme’s commitment to inclusion in a traditionally male-dominated sector.
Building bridges with DFIs and LPs
A highlight of the programme was its structured dialogue between African general partners (GPs) and international DFIs such as the EBRD, Proparco, British International Investment, and the Arab Fund.
These sessions allowed fund managers to better understand the expectations of large investors while also giving DFIs a closer look at the on-the-ground realities of venture capital in Africa.
For many GPs, this is a rare chance to connect directly with the institutions whose capital could help them scale.
The ripple effects
With more than 150 alumni across four editions, AVFP has created a pan-African network of fund managers who share tools, co-invest, and raise the bar for venture capital practice.
“When we train one fund manager, the impact multiplies across dozens of startups and thousands of jobs,” van Dijk notes.
The benefits extend beyond individual participants:
- For startups: better-prepared investors mean stronger governance and more tailored support.
- For markets: common standards improve transparency and trust.
- For LPs: reduced risk and better long-term returns.
The Road Ahead for African Venture Finance
As Africa’s tech ecosystem matures, the need for locally rooted, professionally managed capital will only grow. The AVFP is a powerful catalyst currently reshaping the landscape, closing new funds, and backing startups that address Africa’s most urgent challenges, from fintech to clean energy.
“Venture finance is about more than returns; it’s about shaping Africa’s economic future,” van Dijk emphasises.
With each cohort, AVFP pushes that future closer to reality.
