As part of the effort to address the lack of access to early-stage funding for African technology firms, a serial investor and founder of Bluechip technologies, Olumide Soyombo is set to launch a fund for African Startups through Voltron Capital, a Pan-African venture capital.
Voltron Capital will invest in at least 30 startups in the pre-seed and seed stage across Africa to bridge the large chunk of tech startups in Africa raised $2 billion that went into late-stage deals compared to the other regions.
Olumide co-founded Voltron Capital with Abe Choi, a U.S-based entrepreneur, and investor who launched Voltron Capital to support Africa startups to thrive for efficiency and productivity as early-stage investors in Africa continue to struggle to raise investment compared to other regions.
The funds will range from $20,000 to $100,000, focusing on startups in Nigeria, Kenya, South Africa, and North Africa.
He has largely used an informal approach to investment in startups that are looking to raise six figures. The tech guru is set to make his approach formal with the launch of a fund for African startups.
The Nigeria entrepreneur is recognized as one of the most important figures in Nigeria’s tech ecosystem, as he has access to almost all the significant deals in the market on account of his reputation as an investor who is always ready to help.
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