Tokyo-based venture capital firm, Samurai Incubate, announced the close of its USD 18.6 Mn Samurai Africa 2nd General Partnership fund. According to Samurai Incubate, 54 investors joined as Limited Partners. Toyota Tsusho Corporation is one such notable LP.
The majority of Samurai’s businesses are based in one of three African countries: Kenya, Nigeria, and South Africa, with plans to venture into Egypt. The Japanese VC intends to invest in 30 to 40 new pre-seed and seed-stage firms and pre-Series A and Series A investments in 7 to 10 existing portfolio companies.