4DX Ventures closes $60m second fund
4DX Ventures, an African early-stage venture firm, announced it has completed the final close of its second fund which launched in Q1 2021, at an amount of $60 million compared to its original target of $50 million. In addition to the final close of its second fund, the firm has added two experienced general partners, and Dikembe Mutombo as a senior advisor.
4DX Ventures was founded by Walter Baddoo and Peter Orth in 2017 to invest in the best founders building great companies that would usher in Africa’s technology revolution. Investing in Africa and beyond, 4DX is focused on pre-seed to series B opportunities across a variety of sectors and business models.
“Growing up in Ghana, I experienced first-hand many of the issues our companies are tackling head-on today. I believed early on in the incredible opportunity that exists in Africa and continue to be excited about the way our founders are using technology to make everyday life easier for Africans across the continent,” said Walter Baddoo, co-founder and general partner of 4DX Ventures.
Limited partners (LPs) in the second fund include U.S-based asset managers, a university endowment, global family offices, tech founders as well as portfolio managers in the hedge fund, private equity, and venture capital industries.
“We received tremendous support for our second fund and are grateful to our LPs, who are also deeply committed to Africa’s technological revolution. This revolution will fundamentally shift the continent’s position within the global economy and improve over a billion lives in the coming decades,” said Peter Orth, co-founder and general partner of 4DX Ventures.
In addition to their early successful investments in companies like Andela and Flutterwave, 4DX Ventures has been active in recent years, backing other companies like Autochek, Breadfast, MaxAB, mPharma, Sokowatch, Taager, Trella, and Yoco. To date, the firm has invested in over 40 companies, covering a variety of sectors as well as exposure across all four corners of the continent, along with a handful of Middle Eastern companies, and a few in the US, including Swarm Technologies which was recently acquired by SpaceX.
Dan Marlo and Raaid Ahmad joined 4DX as general partners, both of whom have served as senior advisors to the firm since 2017.
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