Japanese venture firms set up $20m fund for African startups
Uncovered Fund and Monex Ventures to target fintech, mobility, logistics, and climate tech.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
Uncovered Fund, a Tokyo-based venture capital firm with a focus on emerging markets, and Monex Ventures, the venture capital arm of one of Japan’s leading financial groups, have jointly launched the Uncovered Monex Africa Investment Partnership. This new venture capital fund will invest in early-stage startups across Africa and the Middle East and North Africa (MENA) region.
The $20 million fund targets technology-driven startups headquartered in, or primarily operating within, Africa or MENA, with typical ticket sizes ranging from $100,000 to $2 million, including follow-on investments.
Key areas of focus include:
Fintech (B2C/B2B): Mobile payments, micro-lending, SME finance, and inclusive insurance
Mobility and urban transport: Used car marketplaces, digital repair and insurance services, electric vehicles, and battery infrastructure (BaaS)
Retail and logistics: e-commerce logistics, supply chain visibility, warehouse optimisation, and last-mile delivery
Sustainability and climate tech: Smart irrigation, weather-based agritech solutions, and carbon credit platforms leveraging satellite and IoT technology
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now