Monday
January 31
2022

Norrsken, VCs and 30 Unicorn Founders Set Up $200 Million Fund to Back Growth-Stage Startups in Africa

By Tage Kene-Okafor

Niklas Adalberth’s Norrsken Foundation is in the news again barely two months after opening its Norrsken House in Kigali, Rwanda, which plans to accommodate thousands of entrepreneurs by next year.

This time, the foundation has teamed up with thirty unicorn founders and a couple of seasoned venture capital and private equity investors to launch a $200 million fund targeted at African startups.

The fund, dubbed the Norrsken22 African Tech Growth Fund, has reached its first close of $110 million, per a statement seen by TechCrunch. It’s the latest fund launched by Norrsken after closing €125 million impact fund for European startups last March.

Photo courtesy of Christina @ wocintechchat.com.

Source: TechCrunch (link opens in a new window)

Categories
Investing
Tags
entrepreneurs, entrepreneurship, funding, impact investing, startups, venture capital