$100M innovation fund to fuel tech investments across Africa

TechTrends.Africa IconByTechTrends Hours On Categories Funding, Tech and Innovation
innovation fund

The Global Innovation Initiative Group (GIIG) stands out as an investment vehicle supporting early-stage tech startups by establishing a new fund aimed at investing in early tech innovations startups across Africa.

The curaçao-based private investment fund, GIIG Africa Fund, invested annually in winner pools across the Africa region of the Global Startup Awards (GSA) – the world’s largest startup ecosystem competition. GIIG aims to stimulate new industries, increase cross-border collaboration, and unlock access to new markets.

GIIG will hod exclusive rights to the award Awards and access to an active pipeline across Africa that comprises vetted participants in venture capital stages engaged in categories linked to the UN SDGs. There will be multi-stage support, access to high-value networks, fast-tracked market penetration aimed at optimizing the outcomes for both investors and startups.

Mahyar Makhzani, Founding Partner at GIIG pointed out that they are not just launching a new fund but rather discovering a new way of finding and funding startups across Africa given the vigorous competition and vetting process for those eligible for funding.
The fund remains open to qualified investors and looks to raise $100 million in capital commitment for investing in tech and innovation across Africa within the next three years.
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