Startup Wise Guys Launches USD 9.35 Mn Africa-Dedicated Startup Fund

Startup Wise Guys (SWG), a European startup accelerator and investment fund completed the first closing on its new fund for African startups of  USD 9.35 Mn. SWG will invest in a minimum of 30 startups through 2023, after choosing the first batch of startups from more than 300 African startup applications. The funding will benefit nine selected startups, coming from across the fields of Fintech, Agritech, Edtech, Cleantech, HealthTech, and RetailTech.

The selected startups will each receive a USD 71.5 K (€65k) ticket for up to a 12% equity stake as well as an intensive four-month mentorship. Additionally, the nine startups will also have the chance to pitch for follow-on funding of up to USD 274. 9 K (€250k).