The initiative will issue initial tickets of $100,000 to $500,000 in up to 30 startups, reserving roughly half of its capital for larger follow-on cheques ranging between $1 million and $2 million.

In addition to equity financing, UMAIP also plans to leverage Japan’s low-interest environment to raise debt locally and extend debt financing, particularly to fintech firms.

The fund is sector-agnostic but will give priority to high-growth industries including:

• Fintech – payments, lending, and financial infrastructure.

• Mobility – used-car marketplaces, EV solutions, and transport platforms.

• Retail & Logistics – last-mile delivery, warehousing, and supply-chain innovation.

• Climate Tech – agritech, renewable energy, and carbon-credit solutions.

Uncovered CEO Takuma Terakubo explained that Monex has long been interested in Africa.

The Japanese firm operates the country’s largest crypto exchange and views fintech and blockchain applications in Africa as prime opportunities.

The UMAIP fund mirrors Japan’s broader pivot from aid toward private investment:

• Recently, Tokyo signed a $5.5 billion loan deal with the African Development Bank to support African enterprises over three years.

• Nigeria, backed by Japan’s international development agency (JICA), is setting up a $40 million technology startup fund.

This new fund also complements recent moves by other Japanese investors, such as Samurai Incubate Africa and Verod-Kepple Africa Ventures, who have raised sizable funds for the continent.

While UMAIP will operate across Africa and MENA, Egypt is expected to be a major focus due to its large consumer market and regional influence.

The fund intends to back scalable, consumer-focused businesses that can expand beyond Egypt into the wider MENA ecosystem.

Uncovered has already invested in 29 early-stage companies across Africa and the Middle East.