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.
Chanoff exclusively told TechMoran, “I am interested in working with Savannah Fund in Africa as they have a broad view of the continent, I like their pan-African view and their due diligence.”
The venture capitalist, consultant and researcher was speaking during a visit to Nairobi where he held a talk on Startup Engineering to several tech startup founders at the Nailab, a tech business incubation centre in the city.
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.
Apart from the fund’ due diligence, Chanoff must have loved fund partner’s skill set for deal flow and technical assistance to support startups. Savannah Fund was founded by Mbwana Alliy, Erik Hersman, and Paul Bragiel.