South African VC Firm Secha Capital Closes $15.8 Million Fund to Invest in Early-Stage Startups
Secha Capital, a South African venture capital firm, has announced that it has raised $15.8 million in new funding.
The firm plans to use the funds to invest in early-stage startups in South Africa and other African countries.
Secha Capital was founded in 2020 by Rushil Valabh and Brendan Mullen, who have over 20 years of experience in investing and building businesses in Africa.
The firm focuses on investing in startups that are addressing large addressable markets and have the potential to create significant job growth.
Secha Capital has already invested in a number of successful South African startups, including SweepSouth, a digital platform for on-demand home cleaning services, and Luno, a cryptocurrency exchange.
The firm’s new funding round was led by the SA SME Fund, a jobs-focused fund of funds, and also included investments from the venture arm of Rand Merchant Bank, 27four Investment Managers, and Caleo Capital.
The investment by Secha Capital is a positive development for the South African startup ecosystem.
The firm’s focus on investing in early-stage startups is particularly important, as it can help to fill a gap in the funding landscape for South African startups.
The investment is also a sign of the growing interest in investing in African startups.
Africa is one of the fastest-growing regions in the world, with a booming startup ecosystem.
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