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Launch Africa Ventures has been named investment advisor for the first phase of the Botswana Tech Fund, a new venture vehicle that plans to support technology and tech-enabled businesses across Southern Africa.
The fund is structured as a multi-stage vehicle targeting total commitments of £50 million, with the first phase set to deploy up to £5 million.
The appointment adds to Launch Africa’s growing work beyond direct investing.
The firm said the Botswana Tech Fund mandate falls under its managed accounts strategy, through which it advises on third-party investment mandates.
Launch Africa describes itself as an early-stage Pan-African venture capital firm and focuses on closing the funding gap in seed and pre-Series A startup financing on the continent.
The Botswana Tech Fund is being positioned around a clear thesis: Southern Africa has stronger digital foundations than before, but many startups still struggle to access enough growth capital.
Phase One of the fund will be split between very early-stage backing and later growth investments.
The pre-seed side is expected to deploy £1 million across an accelerator cohort, while the rest of the first phase will go into two to four growth-stage deals through both primary and secondary opportunities.
The fund’s model is meant to serve companies at different stages, from founders just getting started to businesses already generating revenue and seeking larger rounds to expand.
For pre-seed startups, the accelerator program will invest between £25,000 and £100,000 per company.
Beyond money, the fund says these startups will receive structured support, market access and operational help.
On the growth side, the strategy targets companies from seed to Series C that are either based in Southern Africa or expanding into the region.
Those businesses are expected to receive between £500,000 and £2 million per investment, alongside access to Launch Africa’s wider network across the continent.
The fund is backed by Pula Investments, the family office of Stephen Lansdown, the co-founder of Hargreaves Lansdown.
It is led by Managing Partner Martin Davis, the former chief executive of Molten Ventures, and General Partner Florence Bavanandan, who also serves as Head of Platform and Operations at Launch Africa Ventures.
The Botswana Tech Fund says it has partnered with the Botswana Innovation Hub, which will give portfolio companies a physical base, access to deal flow and links into the country’s wider innovation system.
Public information from the Botswana Digital & Innovation Hub shows that the institution is designed to support technology-driven and knowledge-based businesses and also serves as the secretariat for the Botswana Innovation Fund, underlining its role in the country’s startup support infrastructure.
Launch Africa, for its part, is not new to the region. The firm says it has deployed $65 million across more than 170 ventures in 25 countries and supported more than 300 founders since launching in 2020.
The firm is one of the continent’s active early-stage investors, with a focus on startups building in sectors such as fintech, healthtech, climate tech, logistics, e-commerce and software.
Launch Africa co-founder and managing partner Zachariah George said founders in Southern Africa’s frontier markets have long operated with limited institutional support.
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