Venture Capital Firm Savannah Fund Set to Invest $25m in Viable African Tech Startups

Africa’s leading technology seed fund, Savannah Fund, said it has earmarked US$25 million to invest in early-stage startups across Africa.

According to reports, the investment will focus on various tech sectors including, Agritech, eCommerce, Edtech, Fintech, Healthcare, Logistics among others.

Some of the investors who participated in the $25 million investment include International Finance Corporation (IFC) with US$3 million investment, Women’s Entrepreneurs Finance Initiative (We-Fi) with US$500,000, Tim Draper of Draper Associates, UMA, a Senegal-based venture studio, and Visa Forsten, co-founder of Supercell.

https://atomic-temporary-203083154.wpcomstaging.com/2021/03/12/sas-flexclub-raises-additional-5m-in-funding-to-scale-car-subscription-service/

Savannah Fund is a seed capital Fund that specialises in investing between US$50,000 – $1 million in fast-growing tech start-ups in sub-Saharan Africa. The company said it aims to bridge the early stage/angel and venture capital investment gap that currently exists in Africa.

The Mauritius-based firm, with a strong presence in Kenya and Tanzania, hopes to achieve its objective by combining capital with mentor networks and technical assistance both in Africa and Silicon Valley.