<article>Startup incubator EFI Hub is in talks with a UK-based private equity firm to offload a majority stake, people close to the development told this portal.</article>

Startup incubator EFI Hub is in talks with a UK-based private equity firm to offload a majority stake, people close to the development told this portal.
The stake sale, which is likely to be a mix of equity and cash, could value the incubator close to $5 million.
Co-founded by Anu Shah at Harvard University, EFI Hub started 1.5 years ago with an initial corpus of more than $300,000 raised from angel investors. It has since mentored several technology startups in Africa and India, raised thousands of dollars for its startups and worked with the South Africa government on its technology investment policy and infrastructure.
When contacted by this portal, an EFI Hub spokesperson declined to comment. Founder Anu Shah reiterated that the team&#8217;s vision right from the beginning was to set up a VC/ PE fund as an extension to EFI Hub.
EFI Hub currently mentors over 30 startups in Kenya, Rwanda, Nigeria and South Africa. The stake divestment will help the firm raise capital to strengthen its presence in its existing markets and expand to other emerging markets.
The UK-based potential buyer is learnt to be interested in the deal as it is bullish on the growth of tech startups in Africa. The discussions with the PE firm are believed to be in the final stages and the deal is expected to close the latest by the end of next quarter.
Shah is expected to step down as part of the deal. In addition to being the CEO at EFI Hub, she is the co-founder and CEO of Ushift, an on-demand staffing startup backed by Rocket Internet.

Co-founded by Anu Shah at Harvard University, EFI Hub started 1.5 years ago with an initial corpus of more than $300,000 raised from angel investors.

Startup incubator EFI Hub in talks to sell majority stake to UK-based PE firm

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Startup incubator EFI Hub in talks to sell majority stake to UK-based PE firm

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