Uncovered Fund invests in home financing startup Bongalow

NIGERIA – Uncovered Fund, an Africa-focused Japanese venture firm, has invested an undisclosed amount in Nigerian home financing startup Bongalow, a mobile-powered home financing marketplace. This investment from Uncovered Fund is part of a wider seed round that also includes Future Africa, Kepple Africa Ventures, ARM, Magic Fund, a bank CEO in Nigeria, and a host of other angel investors. The full size of the round is yet to be confirmed, but all capital is being used to further solidify Bongalow’s presence in the market. “We are happy to receive…

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Tokyo based VC Uncovered Fund launches, targets US$15m to invest in seed and Series A stage African companies

AFRICA – Uncovered Fund, a Tokyo based, venture capital fund targeting early and seed stage startups in Africa has launched with a targeted size of US$15 million and confirmed its first five investments in African tech startups. Launched in June of last year, the fund is scheduled to close at the end of June 2021, with a total size of US$15 million. The Tokyo-based outfit founded by Takuma Terakubo in 2019 will invest $50,000 to $500,000 in African startups in seed and Series A stages. Before Uncovered Fund, Terakubo was…

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