UNCOVERED FUND, a Japanese firm with its headquarters in Tokyo has launched an African startup fund with a target of US$15 million. The Tokyo-based firm has also recently confirmed its first five investments in African tech startups.

The firm was launched in June of last year, UNCOVERED FUND is a venture capital fund targeting early and seed stage startups in Africa. The fund is scheduled to close at the end of June 2021, with a total size of US$15 million. 

The Africa startup fund is designed to support the development of new businesses in the “uncovered”  world, where entrepreneurial support is not yet sufficient, and will invest between US$50,000 and US$500,000 in early and seed stage African startups.

UNCOVERED FUND has already invested in five African tech startups. In December of last year which was the year 2020, it invested in Kenyan e-commerce company Sky.Garden and Nigerian e-health startup RxAll, while so far this year it has backed Togolese super app Gozem, Kenyan fintech startup LipaLater, and Nigerian logistics platform SEND Technologies.

In general, the African startup fund is looking to make investments in the retail, fintech, e-health, logistics, MaaS, agri-tech, and smart city spaces.

This article is sourced from:https://disrupt-africa.com