Thursday, February 18,2021 / 9:55 AM / By Tom Jackson of Disrupt Africa / Header ImageCredit: UNCOVERED FUND

TheTokyo-headquartered UNCOVERED FUND has launched with a targeted size of US$15million and confirmed its first five investments in African tech startups.

Launchedin June of last year, UNCOVERED FUND is a venture capital fund targeting earlyand seed stage startups in Africa. The fund is scheduled to close at the end ofJune 2021, with a total size of US$15 million.

Thefund is designed to support the development of new businesses in the "uncovered" world, where entrepreneurial support is not yet sufficient, and will investbetween US$50,000 and US$500,000 in early and seed stage African startups.

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UNCOVEREDFUND has already invested in five startups. In December of last year, itinvested in Kenyan e-commerce company Sky.Garden and Nigerian e-health startupRxAll, while so far this year it has backed Togolese super app Gozem, Kenyanfintech startup LipaLater, and Nigerian logistics platform SEND Technologies.

Ingeneral, the fund is looking to make investments in the retail, fintech,e-health, logistics, MaaS, agri-tech, and smart city spaces.

Credit:

The post Japanese Firm Launches$15m African Startup Fund, Announces Five Investments first appeared in Disrupt Africa on February 16, 2021.

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