Thursday
November 12
2020

How Future Africa Invested $1 Million Across 9 African Startups in Q3 2020

By Tage Kene-Okafor

Future Africa, a platform that provides capital, coaching, and community for African innovators, just announced that it invested a total of $1 million in nine African startups in the third quarter of this year.

The firm was founded by Andela and Flutterwave co-founder, Iyinoluwa Aboyeji; Olabinjo AdeniranAdenike Sheriff, and Chuba Ezekwesili in March 2019.

January 2020 saw the firm launch the Future Africa Fund dedicated to investing in African startups. The capital arm of the organisation, the Future Africa Fund, wanted to back 20 founders with up to $50,000 each year for less than 11% equity.

Aboyeji, who serves as Founding Limited Partner alongside co-Andela-founder Nadayar Enegesi, explains that while the Future Africa Fund had previously written checks to different startups years back, it was only just making the process official.

Photo courtesy of Christina @ wocintechchat.com.

Source: Techpoint Africa (link opens in a new window)

Categories
Investing, Technology
Tags
fintech, impact investing, investors, startups, technology