When the philanthropy initiative was launched in late 2015, Zuckerberg said he would put in 99 per cent of his Facebook shares. Photograph: (Getty)
The Chan Zuckerberg initiative funded African start-up, Andela, which tutors the creamy layer of tech talent in Africa
Facebook founder Mark Zuckerberg's philanthropy venture has made its first major investment, leading a funding round in a startup, Andela, that trains and recruits software developers in Africa.
The Chan Zuckerberg Initiative, a limited liability company (LLC), created by Zuckerberg and his wife, Priscilla Chan, led a $24 million Series B funding in Andela, the start-up said on Thursday.
Alphabet Inc's GV, previously known as Google Ventures, was also part of the funding round.
Andela selects the top one per cent of tech talent from Africa, trains them and places them in engineering organisations.
The start-up, which has nearly 200 engineers currently employed by its Nigeria and Kenya offices, will use the funds to expand to a third African country by the end of 2016.
"We live in a world where talent is evenly distributed, but opportunity is not. Andela's mission is to close that gap," Zuckerberg said in a statement.
Zuckerberg said he would put in 99 per cent of his Facebook shares when the philanthropy initiative was launched in late 2015.
Unlike a traditional charitable or philanthropic foundation, the Chan Zuckerberg Initiative can make political donations, lobby lawmakers, invest in businesses and recoup any profits from those investments, as it is a limited liability company.
Zuckerberg has also signed the Giving Pledge which invites the world's wealthiest individuals and families to commit to giving more than half of their wealth to philanthropy or charitable causes over their lifetime or in their will.