Facebook Inc. founder Mark Zuckerberg’s newly formed $48 billion venture is making its first bet.

Thursday, the Chan Zuckerberg Initiative LLC plans to announce an investment in Andela Inc., a New York-based startup that trains software developers in Lagos, Nigeria and Nairobi, Kenya. The Chan Zuckerberg Initiative is leading a $24 million Series B funding round. Others participating include GV, the venture capital arm of Alphabet Inc. previously known as Google Ventures.

This marks the first move by the initiative, a for-profit entity formed late last year by Mr. Zuckerberg and his wife, Priscilla Chan.

Image: Facebook CEO Attends Interactive Dialogue on Sustainable Economic Growth. UN Photo/Mark Garten.