Mark Zuckerberg’s foundation is investing millions in a company that trains coders in Africa

Friday, June 17, 2016

Mark Zuckerberg and Priscilla Chan are betting on Africa as the next hotbed of technological talent.

Andela, the Lagos-based company that trains and deploys software developers, is closing a $24 million Series B round—with the Chan Zuckerberg Initiative (CZI), founded by Zuckerberg and his wife Priscilla Chan, leading the round.’

This is CZI’s first major investment and first time leading a financing round since Zuckerberg and Chan launched the charitable foundation last December after the birth of their first daughter with the goal to advance human potential and promote equality.
GV (formerly Google Ventures) also joins this round, along with the early Twitter investor Spark Capital, the Omidyar Network, and the San Francisco-based Learn Capital, which all participated in Andela’s first round.

Source: Quartz Africa (link opens in a new window)

impact investing, philanthropy