Thursday, August 18, 2022
Thursday, August 18, 2022
Home Startups Japanese VC Firm Uncovered Fund Launches $15m fund to Invest in Early-Stage African Startups

Japanese VC Firm Uncovered Fund Launches $15m fund to Invest in Early-Stage African Startups

by Milcah Lukhanyu
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Japan-based Venture Capital Firm Uncovered Fund has unveiled a fund to support early-stage African startups including Sky Garden and Lipa Later startups which are both founded in Kenya.

 The Firm is seeking to invest $15 million acquired from Japanese footballer Keisuke Hondas KSK Angel Fund together with other institutions.

Japanese footballer Keisuke Hondas

The firm has announced it will invest $50 000 up to $500 000 in early seed and stage A series African startups. The Capital Venture firm was founded in 2009 by a young Japanese Investor Takuma Terakubo has pledged to work with local entrepreneurs to create sustainable businesses that will become the foundation of the African economy.

Takuma Tekarubo previously founded Leapfrog Ventures which later changed to Samurai Africa Fund and is currently managed by his former employer Samurai Incubate in Tokyo Japan.

The firm intends to invest in countries like Rwanda, Kenya, Tanzania, Uganda and other countries in East Africa and will extend to big Markets like Nigeria and South Africa.

The following sectors are their major target:  retail, fintech, health tech, logistics, mobility as a service, agritech or  food tech, and Smart City verticals

The firm has identified five startups that will be beneficiaries of the fund including two which are based in Kenya. They include: Sky Garden. A firm that enables retail stores digitizes both online and offline sales. The second beneficiary is Lipa Later also based in Kenya, is a platform that enables postpaid payments at e-commerce stores in East Africa. Thirdly is Gozem, a Togo-based car-hailing services startup serving West African Countries. Another one is called Rxall in Nigeria, a healthtech that deals with safe drug distribution to counter fake drugs.  

Lastly Xend, a Digital Freight Forwarder and Customs Broker for Africa. The Startup manages the entire process of shipping cargo via air and ocean from suppliers around the world to any destination and including customs, clearance, trucking and warehousing.

 

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