October 17

Sony Ventures Announces $10 Million Investment in African Entertainment Startups

By Adekunle Agbetiloye

Sony Group has announced the establishment of Sony Innovation Fund: Africa (SIF: AF), a program designed to promote the development of entertainment businesses in Africa.

As part of this initiative, the Tokyo-based multinational conglomerate, through Sony Ventures Corporation (SVC), has allocated $10 million to support early-stage startups operating in the gaming, music, film, and content distribution sectors.

Initial funding support will be directed towards early-stage startups in South Africa, Kenya, Nigeria, and Ghana, but there is a possibility for project expansion in the future.

Photo courtesy of Nevels Media.

Source: Business insider Africa (link opens in a new window)

Investing, Technology
innovation, media and entertainment, startups