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Venture capital

  • Here’s all you need to know about Oui Capital’s $10m fund

    Are you a pre-Series A tech company valued at or below $5-million that has a scalable solution with potential to impact Africa's people? Then you might be the kind of startup that US-based venture capital (VC) firm Oui Capital is looking to invest in. The $10-million fund, which was established in 2017 by managing partner Olu Oyinsan (pictured above ) -- former vice president at Ingressive Capital -- and venture partner Swiss engineer Francesco Andreoli, will back startups that are first movers geographically or in the product or service they sell. Oyinsan told Ventureburn in an email yesterday (10 January) that...

  • More private equity firms to participate in later stage million-dollar VC deals

    This year, we are likely to see more private equity firms participate in later stage million-dollar VC deals, so believes the African Private Equity and Venture Capital Association (Avca) director and head of research Enitan Obasanjo-Adeleye. Obasanjo-Adeleye made the prediction in an interview with Ventureburn late last year, in a response to a question on what trends we are likely to see in the African venture capital (VC) industry in 2019. Obasanjo-Adeleye said last year she noted what she described as an "interesting trend" in the increasing number and rising participation of private equity firms in later stage transactions in...

  • Rising Tide Africa to establish Pan-African fund in 2019 says co-founder

    Rising Tide Africa, a Lagos-based women-oriented investment group, will this year establish a Pan-African fund, co-founder Olayemi Keri has said. Keri (pictured above), who founded Rising Tide Africa in 2016 with Ndidi Nnoli Edozien, told Ventureburn last December that the organisation will this year also look to close more deals. A slide deck Keri sent to Ventureburn shows that once the fund is operational, a nine-person investment committee will screen, analyse and vote on investments. Rising Tide Africa -- which was founded in 2016 by Olayemi Keri and Ndidi Nnoli Edozien -- made its first investments last year Keri explained today (8 January), that...

  • JUMO’s $12.5m deal from UK investor, brings funding raised to $64.5m in 2018

    In a further sign that fintech startup JUMO will again be a company to watch in 2019, the Mauritius-registered mobile financial services platform earlier this month announced it had clinched a further $12.5-million in an investment from UK based Odey Asset Management. The announcement was made on 13 December. The investment is in addition to a $52-million equity funding round that startup -- founded by South African Andrew Watkins-Ball (pictured above) in 2014 -- closed in September this year -- bringing the total it has raised in funding this year to a whopping $64.5-million. The earlier $52 million round was concluded with...

  • Nigeria’s Wakanow secures $40m investment from The Carlyle Group

    In what is one of the biggest disclosed deals this year, Lagos-based online travel company Wakanow.com has secured a $40-million equity investment from US alternative asset manager The Carlyle Group. While the company is no longer a startup, it is none the less a further indication of how deals are hotting up in Nigeria. The country accounted for the second highest value in deals concluded this year -- after South Africa -- that Ventureburn reported on for companies of up to seven years old -- see this story). In a statement yesterday (20 December), The Carlyle Group said the investment came from...

  • AgroCenta to expand operations in Ghana after recently closed $650k round

    Ghanaian agritech startup Agrocenta will use its recently closed $650 000 round to expand operations in Ghana -- the company's CEO and co-founder Francis Obirikorang revealed yesterday. Seedstars World, NP Consulting and the GSMA Ecosystem Accelerator Fund participated in the round which was concluded last month. The startup -- which in April this year was crowned Seedstars Global Winner -- connects smallholder farmers directly to an online market to sell their commodities and by doing so eliminates middlemen and brokers who often exploit the farmers. Responding to questions from Ventureburn yesterday (20 December), Obirikorang (pictured above) said the new funding will be used to expand...

  • Africa Development Bank approves $7.5m investment in Kenyan VC fund

    The African Development Bank (AfDB) has approved a $7.5-million investment in Nairobi-based venture capital firm Africa Tech Ventures. In a statement on Tuesday (18 December) following the approval of the deal by the board, the AfDB said that the equity investment forms part of its Boost Africa Investment Programme -- a collaboration with the European Commission (EC) and the European Investment Bank (EIB). Africa Tech Ventures, which was founded in 2015 by Mairead Cahill and Eline Blaauboer, provides seed investment to early-stage companies that improve and facilitate access of essential goods and services to the underserved on the continent, while promoting inclusive growth. The...

  • Are these the biggest disclosed VC deals in 2018 involving SA tech startups?

    SA tech startups raised over a R1-billion or over $89.3-million in 2018. This is the figure available to Ventureburn through the 15 venture capital (VC) deals in which startups disclosed how much they raised (JUMO's $52-million and $12.5-million deals and Yoco's $16-million deal accounted for the bulk of this). Not every startup wants to disclose how much they raised. Usually to avoid giving future potential investors the inside edge, startups often withhold the amount and equity stake involved in a funding raise -- which is why a further 13 tech startups elected to withhold this figure from the public when announcing they had closed a...

  • HouseMe secures ‘multi-million’ rand deal, declines to reveal who investors are

    While Cape Town based proptech startup HouseMe last week announced that it had secured what it calls a "multi-million" rand investment -- the company's co-founder and CEO Ben Shaw today declined to disclose who the two investors are behind the deal. The proptech startup -- which was founded in 2016 by Shaw (pictured above) and Kyle Bradley in 2016 -- announced the investment last Thursday (13 December). HouseMe connects tenants to residential landlords, providing letting services for a fraction of agency fees. Shaw told Ventureburn today (18 December) that the deal was concluded last month. He however would not disclose who the investors are,...

  • Six African startups selected for GSMA Ecosystem Accelerator Innovation Fund

    Six African startups have been selected for the third cohort of the GSMA Ecosystem Accelerator Innovation Fund. The names of the six companies were announced last Wednesday (12 December) in a post by GSMA's Mobile for Development Utilities and Ecosystem Accelerator head Max Cuvellier, along with those of five other startups -- from Indonesia, Myanmar, Papua New Guinea, Samoa and Sri Lanka. The African startups hail from Benin, Cameroon, Ivory Coast, Ethiopia, Kenya and Ghana. The six are: agritech and mobile financial services startup AgroCenta, Ivorian mobile-supported plastic recycling solution Coliba, Yaounde-based healthtech GiftedMom, edtech Eneza Education, medical identity solution KEA...

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