Africa-focused financial powerhouse and investment firm, Zedcrest, has launched a $10 million venture fund to invest in startups in Africa.
- The Fund, tagged, Knight Fund, will focus on follow-on investments to allow startups to build on existing operations, growth, and expansion.
- The Fund will focus on startups finding it hard to raise Series A rounds, with a deployment between $200,000-$500,000 each.
- Zedcrest has invested in three startups with this fund while its Ventures at Zedcrest, a very-early stage fund has invested in over 20 startups, including TalentQL, Indicina, Simpu, Julaya and others.
Why this matters
Zedcrest's emergency fund will help African startups transition from seed to growth stage without having to bear the brunt of funding winter or wait for a long time while international investors carry out due diligence which has lengthened the time it takes to raise funds.