Why the World Bank’s venture capital arm is investing in Silicon Valley

Article posted on devex. 26 May, 2016

It might seem off mission for investors who say they want to drive prosperity in 7R38yLAmxJ1aGXpk3ZbEQh08ROPnttoyPQQxmSZLaj5OhmpWDNPRN0W3iLuSAqBhdz4PjGBThqqzeVVrM97XQRxKKbeEGhugd5VpmIeKMyJbO9K5sEE3msIZhHfqdOJNl2pF370zdeveloping countries to support entrepreneurs based in the city with the most concentrated venture capital in the world.

Most of the more than $100 million the venture arm of the World Bank’s International Finance Corp. will invest this fiscal year will go to the emerging markets, including tech hubs such as Nairobi, Kenya — dubbed the “Silicon Savannah”. But recently the IFC has also invested in Silicon Valley companies such as the cloud-based software company Ayla, the satellite company Planet Labs and the online education company Coursera.

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