A $95 million seed fund was formed by Cairo-based venture capital firm Flat6Labs to support African technology start-ups in their early stages. The Africa Seed Fund (ASF), which has its headquarters in Egypt, will concentrate on three key investment regions: North Africa, West Africa, and East Africa, according to a statement released by Flat6Labs on Tuesday. With the help of the new money, Flat6Labs hopes to expand its presence in a number of additional nations, including Senegal, Ghana, Kenya, Nigeria, and Kenya. Ramez El Serafy, general partner at ASF, said that Africa is one of the most interesting places to invest in technology and innovation because of its enormous untapped potential and distinctive commercial opportunities. To help the start-up founders build truly scalable, investment-ready, African enterprises, we will draw on our expertise and knowledge. Over the next five years, the fund will invest in more than 160 early-stage tech start-ups. It will conce...
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