Modus launched $75 million Africa-focused Fund

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Modus, a Venture Platform operating in MENA comprising VC funds, Venture Builders, and a Corporate Innovation arm, has announced the launch of Modus Africa – a $75 million SDG-focused VC fund that will invest in Africa’s boldest startups powered by AI and Blockchain technologies.

The founding of Modus Africa coincides with an increase in venture capital investments on the continent. According to MAGNiTT, last year saw a 250% YoY increase in funding for Africa, surpassing the amount invested in MENA. The early-stage impact-driven ventures and local tech talent on the continent will be supported in their growth and development by Modus Africa. With a follow-on investment allocation and 45 investments in startups at the Seed+ stage, the new fund, which will close in Q1 2023, will encourage foreign investment in the continent.

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Modus launched $75 million Africa-focused Fund

Modus, a Venture Platform operating in MENA comprising VC funds, Venture Builders, and a Corporate Innovation arm, has announced the launch of Modus Africa – a $75 million SDG-focused VC fund that will invest in Africa’s boldest startups powered by AI and Blockchain technologies.

The founding of Modus Africa coincides with an increase in venture capital investments on the continent. According to MAGNiTT, last year saw a 250% YoY increase in funding for Africa, surpassing the amount invested in MENA. The early-stage impact-driven ventures and local tech talent on the continent will be supported in their growth and development by Modus Africa. With a follow-on investment allocation and 45 investments in startups at the Seed+ stage, the new fund, which will close in Q1 2023, will encourage foreign investment in the continent.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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