Yango Group, a global ride-sharing company, has launched a $20 million African innovation fund.
The $20 million corporate venture fund, Yango Ventures, has been launched by the global ride-hailing and tech conglomerate Yango Group with a focus on early-stage African entrepreneurs.
Yango Group, a tech ecosystem based in Dubai, provides ride-hailing, e-grocery, adtech, maps, entertainment services, AI voice assistants, delivery, public transportation data, and more.
Through funding and the use of its vast network and experience, Yango Ventures seeks to support local innovation and entrepreneurial growth while giving entrepreneurs the chance to flourish successfully.
“We are an ecosystem dedicated to empowering entrepreneurs globally; we are more than just a software firm. According to Yango Group CEO Daniil Shuleyko, “We at Yango Group think that technology is not just about innovation – it’s a catalyst for tangible progress.”
“We’re sharing our knowledge and connections through Yango Ventures to support businesses as they grow, succeed, and effect significant change in their local communities. Our goal is straightforward: allow others to flourish alongside us. Our goal is to promote sustainable company growth and help create resilient, inclusive economies worldwide by providing local talent with the appropriate skills and resources.
Yango Ventures specializes on early-stage businesses in the finance, B2B SaaS, and online-to-offline sectors, ranging from seed to Series B. The corporate venture fund has intentions to build its capital base in the near future in tandem with the expanding entrepreneurial ecosystems in dynamic, high-growth industries, notwithstanding its initial investment of US$20 million.
