Constant Ventures, a part of the Constant Group is raising a $100 million venture capital fund to invest in startups across West Africa.
- The fund will focus on a range of technology startups with a focus on financial inclusion, education and healthcare.
- Investee companies will initially be located across Nigeria and Ghana, with the fund set to target the wider West Africa region.
- Founded in 2006, the company says it created the fund on the back of its successful track record as an angel investor, as well as a respected developer of technology businesses.
- To date, it has invested $3.2 million in nine Nigerian startups, including Gokada, Halo, Appzone, Heala, Tingtel, CreditClan, Omnibiz, Sabiroad and FIG.
- The fund boasts a return of 5.6x, and projects to return 15x after the next funding round.