*Data updated daily at 18:00 EAT
The newly-rebranded VC firm Rali_cap has reached the first close of USD 20 Mn of a USD 30 Mn fund that will invest in B2B and API-first fintech startups in Africa and other emerging markets. The funding was secured from LPs, including Bain, Breyer, Better Tomorrow, Lateral, Propel, Infinity, Amador, and Ground Squirrel. The round also included two of largest global multi-stage funds, one of the top fintech investment banks, and one of the top global financial inclusion funds.
Rali_cap is a global community of fintech angels investing in and alongside an exclusive portfolio of early-stage emerging market funds. It is targeting a USD 30 Mn final close in the next few weeks and will use the capital to lead pre-seed rounds with USD 250 Kplus cheques, and follow-on at seed.