Early-stage venture capital fund OpenseedVC debuts with first closure of $10 million.

Early-stage venture capital fund OpenseedVC debuts with first closure of $10 million.

With the announcement of the first close of its US$10 million angel-style early stage fund, OpenseedVC, a new operator-led fund aiming to be first investors in seasoned operators beginning innovative firms across Africa and Europe, has officially started. Supported by LPs including founders, operators, and HNIs in the US, Europe, and Africa, the OpenseedVC fund…

Accion announces a $152.5 million Digital Transformation Fund to provide growth finance to small businesses.

Accion announces a $152.5 million Digital Transformation Fund to provide growth finance to small businesses.

Global non-profit Accion launched the US$152.5 million Accion Digital Transformation Fund (ADTx), which aims to help financial institutions address the needs of small businesses that are currently excluded from the financial system by providing growth capital and strategic support for digital transformation. Founded in 1961, Accion works to improve the lives of nearly two billion…

Apply for the Mastercard Foundation Fund for Resilience and Prosperity grant

Apply for the Mastercard Foundation Fund for Resilience and Prosperity grant

In 20 Sub-Saharan African nations, the Mastercard Foundation Fund for Resilience and Prosperity is looking for SMEs in the fields of digital economy, agriculture, and climate adaptation. Benefits: Grants ($500,000 – $2,500,000 USD)Connections with investors and trainingGaining access to markets and developing capacitySupport for policy advocacy Deadline for applications: November 22, 2024 Apply here. Source

Baobab Network, an early-stage investor, acquires a marketing firm to help startup companies

Baobab Network, an early-stage investor, acquires a marketing firm to help startup companies

The acquisition of Reflector Marketing, a South African strategy and branding consultancy, has been announced by Baobab Network, an early-stage investor supporting entrepreneurs throughout Africa. Since 2019, the Baobab Network has assisted businesses in raising capital and developing their capabilities. Most recently, the network increased the average investment to $50,000 USD. It has fifty startups…

Villgro Africa seeks for venture funding for  female founded solutions.

Villgro Africa seeks for venture funding for  female founded solutions.

Seeking female entrepreneurs spearheading cutting-edge health firms around the continent, Villgro Africa is a healthcare-focused investor and incubator seeking to provide venture capital to assist these businesses grow. With the establishment of Villgro Kenya in 2017, the India-based Villgro Innovations Foundation broadened its reach into Africa. Villgro Kenya is an impact investor and early-stage company…

Nigeria’s alGROWithm receives funding to scale the Growth Talent Accelerator Programme.

Nigeria’s alGROWithm receives funding to scale the Growth Talent Accelerator Programme.

Nigerian startup alGROWithm has obtained funds to expand its patented Growth Talent Accelerator Programme to additional people in six African nations. AlGROWithm, founded in March 2022, is the firm behind the Growth Talent Accelerator Program, which offers ed-tech solutions to growth hackers. The company has now acquired funds from Digital Africa, which it will use…

The Kofi Annan Award for Innovation in Africa is now accepting applications.

The Kofi Annan Award for Innovation in Africa is now accepting applications.

The Kofi Annan Award for Innovation in Africa (KAAIA), which focuses on technologically advanced approaches to guarantee that no one goes hungry in Africa, is now accepting applications. In order to scale their impact and help as many Africans as possible, the Austrian Federal Chancellery and the Kofi Annan Foundation are organizing the KAAIA, which…

Nigerian Fintech Startup Miden Qualifies for Y Combinator’s Winter 2024 Batch

Nigerian Fintech Startup Miden Qualifies for Y Combinator’s Winter 2024 Batch

A Nigerian startup called Miden has been chosen for Y Combinator’s winter 2024 class. Through its API, Miden enables businesses to issue virtual cards to their clients. After the cross-border payment provider Cleva, the newest Nigerian company in this year’s winter batch is called Miden. In 2022, Miden started to address the operational issues businesses…

IFC Announces $20M Equity Investment in the Africa50 Fund to Facilitate Sustainable Infrastructure Development in Africa

IFC Announces $20M Equity Investment in the Africa50 Fund to Facilitate Sustainable Infrastructure Development in Africa

IFC has announced a $20 million equity investment in the Africa50 Infrastructure Acceleration Fund (IAF Fund), which will fund projects related to digital infrastructure, renewable energy and power, transportation, logistics, and water and sanitation. The goal of the IAF Fund is to support sustainable infrastructure development throughout Africa. The fund seeks to engage in initiatives…

Apply: Somefund, a $250k Empowerment Contest for Creatives by Somehoodlum, Arsonic

Apply: Somefund, a $250k Empowerment Contest for Creatives by Somehoodlum, Arsonic

A fund for creatives named Somefund has been introduced by US-based animator and artist Somehoodlum and multihyphenate creative/entrepreneur Arsonic (Zeblocks). Somehoodlum claims in an Instagram post that the fund, also known as an artist empowerment contest, is available to creatives in need of money for projects involving short films, equipment purchases, assistance with music videos,…

Pan-African Venture Capital Firm, EchoVC Announces a $2.5 Million pre-Seed Climate-focused Fund

Pan-African Venture Capital Firm, EchoVC Announces a $2.5 Million pre-Seed Climate-focused Fund

The EchoVC Eco Pilot Fund I is the newest pre-seed fund vehicle from EchoVC, a seed and early-stage technology venture capital firm that invests in underrepresented founders and underappreciated industries. The fund will support startups in the energy and climate sectors. At the moment, EchoVC operates out of offices in Lagos, Nairobi, New York, and…

Nigeria: Aduna Capital Unveils $20 Million Fund to Support the North, Female Founders
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Nigeria: Aduna Capital Unveils $20 Million Fund to Support the North, Female Founders

Aduna Capital, a Nigerian venture capital firm, announced the creation of a $20 million fund today. The fund would invest 55.5% of its cash in Northern Nigeria businesses, with the remainder spread across the country and Africa. According to General Partner Surayyah Ahmad, the fund’s goal is to have 50% female participation in the firms…

Harvard’s Africa Business Club is Inviting Startups to the New Venture Competition, $50k Cash Prizes up for Grabs
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Harvard’s Africa Business Club is Inviting Startups to the New Venture Competition, $50k Cash Prizes up for Grabs

The Africa Business Club at Harvard Business School is hosting the New Venture Competition, where entrepreneurs can compete for cash prizes of up to US$50,000. Applications are now being accepted. The New Venture Competition, which aims to highlight the range of entrepreneurs making an impact on the continent today, will be a feature of the…

Norrsken22, a Pan-African VC Firm Secures $205M at it’s  Debut Fund to Support Growth-stage Startups

Norrsken22, a Pan-African VC Firm Secures $205M at it’s Debut Fund to Support Growth-stage Startups

With Norrsken22, a Pan-African venture capital firm, reaching the final closure of its maiden fund and raising a total of $205 million, exceeding its initial target, it’s an exciting time for growth-stage investing in Africa. This further demonstrates institutional investors’ strong interest in helping African businesses during a critical stage of development. Five individuals with…

Kuramo Capital Shares Plans to Invest $150M in African Female-led Funds

Kuramo Capital Shares Plans to Invest $150M in African Female-led Funds

A Sub-Saharan African (SSA) investment company, Kuramo Capital Management, has announced plans to invest $150 million over the next 10 years to promote female-led businesses. The investment will be provided through its Moremi Platform, a three-pillar initiative that includes an accelerator program, a warehousing/lending facility, and a Fund of Funds in an effort to support…

A Nigerian Renewable Energy Firm, WATT Secures $13M Fund

A Nigerian Renewable Energy Firm, WATT Secures $13M Fund

The Nigerian hybrid solar system supplier WATT Renewable Corporation (WATT) has raised US$13 million to expand its operations. The US$13 million in funding came from Empower New Energy, a lender and partner in the development of renewable energy. For the needs of commercial, industrial, and agricultural energy users, Empower New Energy finances, builds, and owns…

Baobab Network Unveils Plan to Invest In 1000 African Tech Companies
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Baobab Network Unveils Plan to Invest In 1000 African Tech Companies

In order to support digital startups across Africa, early-stage investor and accelerator Baobab Network has announced plans to invest in 1000 businesses between now and 2033. Since its 2019 launch, Baobab has continuously been one among the continent’s most active investors, supporting locally led businesses from the start. The co-founder of Baobab, Toby Hanington, claimed…

Bill and Melinda Gates Foundation Launches $30M Grand Challenge AI Investment For Africa
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Bill and Melinda Gates Foundation Launches $30M Grand Challenge AI Investment For Africa

Bill Gates said the Bill & Melinda Gates Foundation will spend $30 million in a new artificial intelligence platform in Africa yesterday at the Grand Challenges annual event sponsored by the foundation and its partners in Senegal. Grand Challenges, the foundation’s flagship innovation program, was introduced in 2003. It focuses funding and attention on urgent…

Visa Rolls out $10M Fund for Gen AI Start-ups
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Visa Rolls out $10M Fund for Gen AI Start-ups

Payments processor Visa has joined the number of investors who have rushed to the field this year by launching a $100 million venture fund for start-ups using generative artificial intelligence. After chatbot ChatGPT’s success, a number of well-known companies, including Microsoft and Google, have backed the AI sector, which has been a hot topic in…

Nigerian Cryptocurrency Startup, Nestcoin Secures $1.9 Million in Funding

Nigerian Cryptocurrency Startup, Nestcoin Secures $1.9 Million in Funding

The startup cryptocurrency Nestcoin from Nigeria has secured a $1.9 million investment round. Hashed Emergent led the financing round in collaboration with a global group of investors, including Adaverse, Base Ecosystem Fund, Alter Global, CMT Digital, Magic Fund, 4DX Ventures, and participating angels. Yele Bademosi, co-founder and CEO of Nestcoin, outlined the goal of his…

Itana Raises $2m pre-Seed Funding to Establish Africa’s First Digital Free Zone

Itana Raises $2m pre-Seed Funding to Establish Africa’s First Digital Free Zone

A Nigerian firm is making waves with its ground-breaking project in an effort to establish a welcoming and digitally-driven business climate in Nigeria, establishing the nation as a hub for the continent’s expanding digital and service industries. Notably, Nigeria is well-known for its privately and publicly run free zones that have attracted manufacturing, oil, and…

African Development Bank Announces $1 Billion Fund to Facilitate Climate Financing for Africa’s Youths
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African Development Bank Announces $1 Billion Fund to Facilitate Climate Financing for Africa’s Youths

A new $1 billion fund has been established by the African Development Bank to speed up climate funding for the continent’s young firms. Akinwumi Adesina, president of the African Development Bank, made the announcement at a high-level intergenerational dialogue titled “Africa Driving Climate Adaptation Solutions and Jobs” that took place on the outskirts of Nairobi…

Kotani Raises $2M pre-Seed Funding to Facilitate Remittances to Africa With Crypto
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Kotani Raises $2M pre-Seed Funding to Facilitate Remittances to Africa With Crypto

One of the most admirable of cryptocurrency’s many high promises is the possibility of bringing financial inclusion to disadvantaged people. The Nairobi-based Kotani Pay cryptocurrency payments firm wants to make it simpler for the sizable unbanked communities in Africa to send money across borders. A use case that affects the lives of hundreds of millions…

Banking-as-a-Service Fintech, Anchor Secures $2.4m Seed for pan-African Expansion

Banking-as-a-Service Fintech, Anchor Secures $2.4m Seed for pan-African Expansion

Leading pan-African Banking-as-a-Service (BaaS) provider Anchor has revealed its $2.4 million Seed round, which will be used to introduce new products, improve its infrastructure for licensing and compliance, and assess potential new markets. Goat Capital led the round, which also included FoundersX, Rebel Fund, and other renowned investors. One of them is Y Combinator. The…

Innovation Edge to Support South African EdTech Innovators With $80,000
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Innovation Edge to Support South African EdTech Innovators With $80,000

This September, during World Literacy Month, Innovation Edge has released a call for startups to submit proposals for funding and strategic support to develop their edtech innovation focused toward enhancing literacy and language acquisition in young children in South African households. Even though many parents lack the tools and resources necessary to give their kids…

Nigerian Green Initiatives Bag $13 Million From FSDAi and InfraCredit

Nigerian Green Initiatives Bag $13 Million From FSDAi and InfraCredit

FSD Africa Investments (FSDAi) has announced a £10 million (almost $13 million) investment in a groundbreaking risk-sharing backup facility in conjunction with InfraCredit. The project intends to increase local currency investment for long-term infrastructure development in Nigeria. The new facility’s (RSBF) purpose is to solve the low credit enhancement problem. It attempts to accomplish this…

Kenyan Agritech Startup, FarmWorks Secures $4.1 Million in pre-Series A Round to Promote AI-driven Production
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Kenyan Agritech Startup, FarmWorks Secures $4.1 Million in pre-Series A Round to Promote AI-driven Production

FarmWorks, a Kenyan agritech startup, has announced its $4.1 million pre-Series A funding round to advance its data analytics skills and apply AI to enhance production and influence planting and loan decisions. The financing was led by the Acumen Resilient Agriculture Fund and included the Livelihood Impact Fund, Vested World, multiple family offices, and angel…

The B2B SaaS Startup Wise Guys accelerator is now accepting applications.

The B2B SaaS Startup Wise Guys accelerator is now accepting applications.

For the third iteration of the Startup Wise Guys accelerator, which provides chosen B2B SaaS firms with access to EUR100,000 (US$110,000)  in funding and five months of rigorous mentoring, applications are now open. Startup Wise Guys, which was founded in Tallinn, Estonia in 2012, also oversees cybersecurity programs out of Cosenza and SaaS accelerator programs…

10 Southern African Fintech Startups Receive Grant Funding From World Bank
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10 Southern African Fintech Startups Receive Grant Funding From World Bank

Ten companies from Southern Africa have been recognized for their innovative approaches to closing the financial access gap for underprivileged people as part of a World Bank-sponsored challenge. The World Bank funded Southern Africa Innovation Bridge Portal ecosystem development efforts included the Fintech Challenge, which sought out novel and effective applications for the newest advancements…

Blockchain funding in Kenya, South Africa, and Nigeria exceeded $91 million.
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Blockchain funding in Kenya, South Africa, and Nigeria exceeded $91 million.

According to a recent survey, blockchain funding increased by a startling 1,668% in 2022 compared to the previous year, reaching a total of USD 91 million in nations including Kenya, South Africa, and Nigeria. According to the “State of Web3.0 in Africa” report by EMURGO Africa, in strategic partnership with PwC, South Africa is revolutionizing…