Silicon Savannah Gets a Major Boost
A consortium of international and African investors has launched a $500 million venture fund based in Nairobi, targeting early-stage tech startups across the continent.
The fund, named "AfriTech Ventures," will focus on fintech, healthtech, agritech, and edtech — sectors where African innovation has shown the most promise.
Investment Strategy
The fund plans to invest in over 200 startups across 15 African countries over the next five years, with ticket sizes ranging from $500,000 to $10 million.
Africa has the youngest population in the world and the fastest-growing mobile internet adoption. The next generation of global tech companies will come from this continent.
Several high-profile African tech founders have signed on as advisors, including executives from major African unicorns in the fintech and logistics spaces.
