VC firm Atlantica Ventures raises US$50m to invest in tech and tech-enabled businesses

AFRICA – Atlantica Ventures, an Africa-focused venture capital (VC) firm, has raised a US$50 million fund that will invest in tech and tech-enabled businesses from seed stage onwards. Its new US$50 million pan-African VC fund is financed by development financial institutions, a US fund of funds, and various high net worth individuals. It has already invested in Nigerian startups Curacel and OnePipe. Primary target markets are Nigeria, Kenya, South Africa, Ghana, Ivory Coast and Tanzania, which between them represent 60 per cent of Africa’s GDP, while it is focused on…

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Tokyo based Samurai Incubate closes its US$18m second African focused fund

AFRICA – Samurai Incubate, a Tokyo-based venture capital firm, has announced that it has closed its “Samurai Africa 2nd General Partnership” fund, totalling 2.026 billion yen (US$18.6 million). According to the firm, the fund was oversubscribed as it targeted 2 billion (US$18.4 million) and a total of 54 investors joined as LPs. One notable LP is the Toyota Tsusho Corporation, which has a diverse network across the continent. The firm founded Mobility 54, a corporate venture capital (CVC) looking to invest US$45 million into African mobility, logistics, and fintech startups.…

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VC firm Echelon Capital launches US$1m fund for tech and non-tech startups

NIGERIA – Echelon Capital, a new venture capital firm, has announced plans to inject US$1 million in funding beginning February 2021 in Nigerian tech and non-tech founders who need funding to scale their startups. According to the founder venture capital firm’s founder, Sunday Olorunsheyi, the VC also has plans to invest millions of dollars into startups in Africa over the next ten years. “One thing that gives my team and I joy is that founders who are prepared, built capacity, and have positioned their businesses properly will need to worry…

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Female focused VC firm ShEquity launches in West Africa with a business accelerator

WEST AFRICA – ShEquity, an investment vehicle that focuses on providing smart and sustainable investments for African female entrepreneurs, has announced the launch of ShEquity West Africa VC Fund and the ShEquity Business Accelerator (SHEBA), offering female founders funding as well as venture building and technical support. Launched in 2020 to help reduce the US$42 billion gender funding gap in Africa, ShEquity combines cash investment, structured technical support and access to high value networks. So far it has invested in three companies – Kenyan insect-based feed manufacturer Ecodudu, Kenyan data…

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