This week, more than 40 of Africa’s leading venture capital fund managers are gathered at Oxford University’s Saïd Business School for the fourth edition of the Africa Venture Finance Programme (AVFP). Running from September 1–5, the exclusive, in-person event has become a critical nexus for VCs shaping the continent’s tech landscape.

The programme isn’t just an academic exercise; it’s the training ground for managers connected to Boost Africa, a joint initiative that has already mobilised over €380m ($444.9m) in capital for the continent’s startups. With this year’s cohort, the AVFP will have passed over 150 of Africa’s most influential VCs through its doors, creating a powerful alumni network that decides where hundreds of millions of euros in tech funding are deployed.

Organised by EIB Global (the European Investment Bank’s development arm), the programme aims to solve a stubborn problem: despite representing 18% of the world’s population, Africa receives only 1–2% of global venture capital. The strategy is to empower local, African-led funds with the skills, networks, and best practices needed to attract more institutional capital and effectively back homegrown startups.

Who’s in the Room?

The guest list for the week-long programme highlights its significance as a meeting point for capital and opportunity. It brings together three key groups:

• The Fund Managers: This year’s cohort, of which nearly half are women, includes general partners from some of the most active firms on the continent. Alumni and speakers include senior partners from established VCs like TLcom Capital, Partech, AfricInvest, Norssken, and Knife Capital.
• The Backers: The programme is powered by a formidable group of development finance institutions (DFIs). Key players include Boost Africa (a partnership between the EIB and the African Development Bank) and AfricaGrow (funded by the German Federal Ministry for Economic Cooperation and Development). These organisations act as fund-of-funds, investing in the VCs attending the programme.
• The Limited Partners (LPs): Senior figures from major institutional investors and DFIs like the EBRD, Proparco, and British International Investment (BII) are also participating in sessions. Their presence creates a direct channel for dialogue between the VCs seeking capital and the institutions that can provide it.

“The African Venture Finance Programme exemplifies our commitment to supporting the growth of emerging leaders in the tech investment space,” said Aunnie Patton Power, the Programme Director at Saïd Business School.

A Track Record of Impact

Beyond networking, the initiative points to tangible results. Boost Africa was created specifically to fill the early-stage financing gap, and its data suggests the model is working.

Founders backed by VCs that have received support from Boost Africa have a significantly higher success rate in follow-on funding. An impressive 94% of these founders successfully raise $1 million or more, a figure that is nearly double the rate of comparable entrepreneurs on the continent.

This success is a key reason why backers like AfricaGrow continue to invest in technical assistance for fund managers.

“AfricaGrow is dedicated to catalyzing private capital into the African venture capital ecosystem,” noted Martin Ewald, Lead Portfolio Manager for Impact Investments at Allianz Global Investors, which manages AfricaGrow. “Our technical assistance programs are designed to empower local first-time funds and extend our impact beyond our immediate portfolio.”

While Africa’s startup scene has seen headline-grabbing funding rounds, the underlying financial infrastructure remains underdeveloped compared to Europe or the US. Programmes like the AVFP are crucial for building that foundation.

This isn’t just a week of lectures; it’s a discreet but powerful mechanism for vetting and anointing the next generation of African fund managers. By bringing them into a room with major DFIs and LPs, the programme acts as a de-risking and matchmaking platform. The VCs gain a “stamp of approval” and access to a powerful network, while the LPs get a curated pipeline of potential fund investments.

The real test will be whether this “elite club” of managers can move beyond backing the usual suspects in hubs like Lagos, Nairobi, and Cairo to unlock innovation across the entire continent. The €380m already deployed is significant, but closing Africa’s multi-billion-dollar VC gap will depend on the ability of this network to not only grow but also replicate its success for a new wave of entrepreneurs.