African Investments Archives - Page 2 of 2

Cathay Africinvest Innovation leads round as company expands precision medicine capabilities across the African continent 54gene, the health technology company advancing African genomics research for improved global health outcomes, has secured $25M in a Series B round, led by Cathay AfricInvest Innovation Fund. The round also included participation from Adjuvant Capital, KdT Ventures, Plexo Capital, Endeavor Capital, Ingressive Capital and others. This round brings the company’s total investment to date to more than $45M since being founded in 2019. The new capital raised will be deployed to expand 54gene’s capabilities in sequencing, target identification and validation, and precision medicine clinical trials enabling drug discovery in Africa for both Africans and the global population...

FDI, also known as foreign direct investment, has been virtually solely concentrated in Africa on the exploitation and export of natural resources for over a century. However, the momentum has changed after the turn of the 2000 and the tendency has finally changed in recent years. Global investors are more likely to visit Africa for their people's promises than for their actual property. Oil and mining now have a comparatively proportion of long-term foreign investment, with most investors focusing on telecoms, retail, and services. Over half of the FDI in the last seven years has been in the extractive industry. In the 46 jurisdictions in sub-Saharan Africa, this tendency is much stronger. Between 2005 and 2011, almost half of the regional total investment was over one year—but the revers...

Tag: African Investments

54gene Closes $25M Series B to Advance Global Drug Discovery Capabilities

Africa as an important participant in the global economy