VKAV Raises $60M for Africa Tech, Backed by SBI, Toyota, Sumitomo
Verod-Kepple Africa Ventures (VKAV) has successfully raised $60 million for its inaugural fund, aiming to support African companies in Series A and B stages with limited capital access. The fund, a collaboration between Verod Capital Management and Kepple Africa Ventures, has already invested in twelve businesses, including Moove Africa and KOKO Networks.
VKAV's impressive list of key institutional investors includes SBI Holdings, Toyota Tsusho Corporation, Sumitomo Mitsui Trust Bank, Japan International Cooperation Agency, and Japan ICT Fund. Additional investors such as Taiyo Holdings, C2C Global Education Japan, and SCM Capital have also contributed to the fund's success.
The fund's assistance is crucial for African companies navigating complex macroeconomic conditions and expanding globally. VKAV aims to focus on digital infrastructure, business-consumer inefficiencies, and new market opportunities, making it a significant player in Africa's tech landscape.
VKAV's $60 million fund, backed by prominent investors, is set to make a substantial impact on Africa's tech scene. With a focus on supporting Series A and B companies and navigating complex business environments, the fund is poised to drive growth and innovation in the region.
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