Voltron Capital, a Pan-African pre-seed and seed firm for elite tech founders tackling key problems in the continent’s largest markets, was launched today by Olumide Soyombo, one of Africa’s most prolific and active early-stage investors in tech startups. The firm intends to focus on startups from Nigeria, Kenya, South Africa, and Northern Africa.
Olumide Soyombo, a seasoned angel investor, and Abe Choi, CEO of Simple Dealer, are at the helm, with the aim of investing in 30 African startups for a total of $20 000 to $100 000 per investment.
“Voltron Capital is the beginning of another incredibly exciting journey for Abe and me, but it is also a celebration of the road Africa’s entire tech space has travelled to date,” commented Soyombo in a statement.
According to research conducted by the SAB Foundation and the Bertha Centre for Social Innovation at UCT GSB, over two-thirds of startups want to raise between R100,000 and R3 million, showing the high demand for small ticket sizes and highlighting the importance of early-stage funding.
“We hold a track record of identifying and supporting some of Africa’s most high-growth startups to date with capital at the pre-seed stage and also hold long-established relationships with corporates and regulators, which can make what can often be a difficult path for African startups much smoother,” he said.
The founders have outstanding investing records, with Soyombo’s portfolio totaling $70-million and Choi’s backing of 15 startups lending substantial legitimacy to the new firm.
“We want the next wave of African tech success stories to not only make an impact on the continent but to be truly global. Through Abe’s strategic connections to the USA, we’re confident we can provide our portfolio with the best possible opportunities to achieve this through our US and global network,” commented Soyombo in closing.