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Byld Ventures, an investment firm focusing on early-stage funding for fintechs in Africa, has made a new close of its USD 15 Mn fund launched in May, with a focus to back fintechs in the African ecosystem. The fund is supported by a number of athletes, the Dubai government, and a host of institutional investors.
Byld Ventures is specifically funding startups in the fintech segment with a focus on those building APIs and infrastructural plays. The fund will also deploy to startups solving the challenge of brain drain in Africa and repeat founders. The investment firm backs early-stage startups, investing as early as the pre-pitch deck. It aims to invest in up to 15 to 20 startups with its first fund, at USD 500 K on average and 50% of the fund marked for follow-on investments.