Flat6Labs Launches USD 95 M VC Fund To Expand Impact In Africa

MENA-focused seed investor Flat6Labs has announced the launch of a new USD 95 M fund to nurture the growth and development of early-stage tech startups on the African continent. Its new Africa Seed Fund (ASF) will focus on three main investment territories in Africa, North Africa, West Africa, and East Africa. Flat6Labs will be extending its reach into several new territories, including Nigeria, Ghana, Kenya, Morocco, and Senegal, amongst others. Flat6Labs will be investing in 160 companies that are in pre-seed up to pre-Series A stages, with tickets ranging from USD 150 K to USD 500 K.

The ASF will invest in more than 160 early-stage startups over the next five years that operate in the technology sector in Africa, with a focus on impactful sectors that accelerate digital inclusion through the use of information technologies and industries which contribute to addressing social and environmental challenges, such as e-health, fintech, ed-tech, green-tech, agri-tech and climate tech.

Flat6Labs’ Africa Seed Program provides portfolio companies joining the program with seed funding, regional business support, access to a regional network of seasoned local mentors, as well as regulatory and logistical support to set up and grow their businesses. The program also adapts to be regional with a hybrid model allowing for physical on-the-ground interactions in local markets while combining virtual elements that allow for cohort interactions across the entire fund region.