Uncovered Fund, a Tokyo-headquartered firm that supports startups has launched a new US$15 million fund aimed at helping African based tech startups overcome the initial financial hitches associated with funding. The Japanese venture capital fund was in the middle of 2020 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 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.
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UNCOVERED FUND has already invested in five startups. In December of last year 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 fund is looking to make investments in the retail, fintech, e-health, logistics, MaaS, agri-tech, and smart city spaces.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry