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.
West Africa-focused fund manager Oasis Capital Ghana has secured $33.3 million in initial commitments for its new $100 million Oasis Africa Fund II (OAF II).
Carry1st, a leading South African mobile game publisher and digital commerce platform, has secured a strategic investment from Sony Innovation Fund: Africa, marking the venture capital arm’s first investment on the continent.
Kenyan startup Peach Cars KE has secured a $5 million seed investment to fuel its ambitious plans of transforming the automotive industry in Kenya.
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