Future Africa invests $1.1m into 17 firms in first half of 2022
The Future Africa fund, launched in 2020 by Andela and Flutterwave co-founder Iyinoluwa Aboyeji, has invested US$1.1 million into 17 firms to date in 2022, including 15 new ventures to its portfolio.
Disrupt Africa reported in January 2020 Aboyeji had launched Future Africa alongside Olabinjo Adeniran and Adenike Sheriff.
The preliminary goal was to construct a web-based group to facilitate conversations about Africa’s future, however the group quickly realised extra was vital, and began a means of evolution. The important thing plank of that is the Future Africa fund, which was opened to co-investors in April 2020.
That group of angel traders – the Future Africa Collective – invested US$4.3 million into 43 firms in 2021, taking its complete property underneath administration (AUM) to US$30 million, and it has began strongly in 2022.
To this point, it has invested US$1.1 million into 17 firms, and welcomed 15 new firms into its portfolio by the tip of April 2022. 9 of those investments have been at pre-seed, six at seed, and two at Sequence A, and so they deliver Future Africa’s complete portfolio firm depend to 79.
“We welcomed startups from Nigeria, Kenya, and South Africa, and made our first funding in Uganda in April. Different investments outdoors the continent are in merchandise serving the African market,” Future Africa mentioned.