Africa-focused venture capital firm, Norrsken22, has raised a total of $205 million, following the backing of more than 30 unicorn founders and institutions. The new tech investments will mostly be spread across Africa, with a focus on startups in Egypt, Ghana, Kenya, Nigeria, and South Africa
According to Natalie Kolbe (Managing Partner, Norrsken22), the fund is seeking what it refers to as the next generation of ‘tech giants; on the continent, in sectors such as fintech, edtech and meditech.
Among Norrsken22 investors are the likes of Skype’s Niklas Zennström, Delivery Hero’s Niklas Östberg, and Flutterwave’s Olugbenga Agboola. Other investors in the fund include Standard Bank Group, Norfund, British International Investment, the International Finance Corporation(IFC), and the US International Development Finance Corporation.
Norrsken22 has stated that it is looking to invest in the growth in tech businesses expected in Africa (largely fueled by investment in digital infrastructure and smartphone adoption on the continent), as well as urbanisation and the growing need for financial and health services.