The fund will focus on startups in a number of sectors, including fintech, agritech and edtech.
The fund will be managed by Black Ostrich Ventures’ team of experienced investors, who have a proven track record of investing in and supporting early-stage startups in Africa.
“If you look at the capital inflows into VC in Africa, the Big Four countries—Nigeria, South Africa, Egypt, and Kenya—attract all the capital. But most exits do not happen in these markets,” says Ajani Windsor-Areago, General Partner of Black Ostrich Ventures.
The Black Ostrich Ventures Africa Fund is part of a growing trend of venture capital investment in Africa.
In recent years, there has been a surge of interest in African startups from investors around the world.
The launch of the Black Ostrich Ventures Africa Fund is a positive sign for the African startup ecosystem.
The fund will provide much-needed capital to early-stage startups, and it will help to accelerate the growth of the ecosystem.
Userguest, a Moroccan tech startup that helps hotels optimize their direct revenue, has secured €2.2 million (approximately $2.4 million) in seed funding.
Nithio, a leading energy investment platform, has invested in SunCulture, a Kenyan solar irrigation company.
Tappi, a rapidly growing digital commerce platform for small and medium-sized businesses (SMEs) in Africa, has secured $1.5 million in a pre-seed funding round.
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