TLDR:
- Verod-Kepple Africa Ventures closes first fund at $60 million to support growth-stage startups in Africa
- The fund aims to invest in up to 21 companies and has already deployed $17.5 million in 12 startups across Nigeria, Egypt, Kenya, Morocco, Ivory Coast, and South Africa
Verod-Kepple Africa Ventures (VKAV) has announced the final close of its first fund at $60 million to support up to 21 growth-stage companies in Africa. The investment saw backing from long-standing partners and new investors like SCM Capital, Taiyo Holdings, and C2C Global Education Japan.
The fund, established in 2022 as a joint venture between Verod Capital Management and Kepple Africa, aims to provide Series A and B companies in Africa with capital to scale, exit, or sustain profitable businesses. The focus is on companies building infrastructure for the digital economy and solving business inefficiencies.
With a goal to invest between $1 million and $3 million in selected startups, VKAV has already deployed $17.5 million in 12 startups, including Moove Africa, KOKO Networks, and NowPay, across various sectors. The fund also aims to explore new investment opportunities in markets like Angola, Zambia, the Democratic Republic of the Congo, and Tunisia.
