Business
Global Founders Capital launches new fund to benefit East Africa’s tech entrepreneurs
App developers at work in Nairobi, Kenya. PHOTO/File
East Africa’s tech entreprenuers have a new opportunity for fundraising following the launch of a US$196 million fund by Global Founders Capital, a global technology fund, which is considering investments in Africa.
The new fund joins other funds — Savannah Fund, DEMO Africa Investor Roundtable and 88mph — which are focused on technology enterprises and finance tech entreprenuers in East Africa.
The fund will target companies at all stages of growth, including early stage commitments but will not consider start-ups.
“The investment team will particularly seek to back companies offering technologies that can be scaled globally,” said the fund in a statement.
Kenya is considered a technology innovation hub in the east and central African region with applications developed locally being replicated elsewhere on the continent, putting its tech entreprenuers in pole position to benefit from the new fund.
“We are considering investments in Africa, and are stage agnostic, meaning we can invest early to late stage,” said Fabian Siegel, partner at Global Founders Capital.
“We like to see a business that has straight forward unit economics and a clear path to growth and profitability. We however do not invest in companies prior to their launch.”
