NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, August 10, 2016

African tech startups raised at least US $185.7 million in funding in 2015, and the signs are that 2016 is set to be another big year.

Startups are being backed by both overseas and domestic investors each day, and a plethora of new funds have been launched this year alone. Not sure where to look for investment? We’ll make it easy for you with this list of 25 good places to start.

1. 4Di Capital

South African venture capital (VC) firm 4Di Capital, which counts amongst its investors the likes of the Reinet Fund, E Oppenheimer & Sons, and Convergence Partners, recently announced a first close of ZAR256 million (US$16.8 million) in initial commitments for a new technology VC fund.

1. Village Capital

Already very active in Africa, Village Capital looks set to scale up its activities after announcing the close of a US$17.7 million fund by its investment arm VilCap Investments, with investors such as Jean and Steve Case, Mitch Kapor and Freada Kapor Klein, Jim Sorenson, and Bob Pattillo backing the fund.

1. The Egyptian government

Good news for Egyptian startups too. The country’s Information Technology Industry Development Agency (ITIDA) announced earlier this year it will launch a US$100 million venture capital (VC) fund, in a bid to stimulate innovation and entrepreneurship in the country’s ICT sector.