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.