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Matt Chanoff, co-manager of Profounder LLC, an early stage investor in internet security and game technology firms is set to invest in Africa’s Savannah Fund.Based in the US, Matt told TechMoran it was easier to work with an African seed fund than investing in individual startups. He did not reveal how much he will invest in the fund.
“I am based in the US but Savannah Fund is based in Africa and can easily monitor the companies. Working with a fund makes sense than doing it on our own,” said Matt.
Savannah Fund is a seed capital fund based out of Nairobi investing US$25,000-US$500,000 into early stage high growth technology (web and mobile) startups focusing on the Sub-Saharan Africa market.
