AfricInvest, Cathay Capital launch $169m African venture fund

Private equity firms AfricInvest and Cathay Capital have partnered to launch a EUR150 million (US$169 million) pan-African venture fund. AfricInvest is one of the leading private equity and VC firms in Africa, with US$1.5 billion of assets under management and 18 PE funds, while Cathay Capital is an

Standard Chartered opens eXellerator innovation hub in Kenya

Standard Chartered Bank has opened its Africa eXellerator lab, an innovation hub that will serve as a platform to collaborate with fintech startups, in Nairobi, Kenya. The eXellerator, which joins counterparts located in Singapore, Hong Kong, London and San Francisco, will provide a base for Standard

Inside the Biotech Startup That Wants to Extend Your Life

In a late January episode of his popular interview podcast The Joe Rogan Experience, Rogan asked his guest, the Harvard geneticist and human longevity specialist David Sinclair, a simple question: “Do you feel incredibly fortunate to be living in this century?” Sinclair had spent the prior 45 minutes

A How-To Guide to Product-Market Fit

When ideating new product ideas or potential strategic pivots, there are several ways to assess product-market fit. The approach often taken involves first defining the product and then assessing its market potential. The steps that are taken usually look something like this: Define the product

Nigeria’s Farmcrowdy raises $1m in additional seed funding

Nigerian agri-tech startup Farmcrowdy has raised additional seed funding of US$1 million as it prepares to broaden its offering. Formed in 2016, Farmcrowdy connects small scale farmers across Nigeria with access to finance sourced from individuals and corporates via its online platform, and has so far empowered

12 startups selected for latest Google Launchpad Africa accelerator

Twelve tech startups have been selected to form the third cohort of the Google Launchpad Africa accelerator, which assists startups in leveraging Google’s technologies and people to scale their businesses. Formed six years ago, Launchpad connects startups from around the world with Google staff, networks, methodologies, and

Ugandan e-commerce startup Xente expands to Nigeria

Ugandan startup Xente, which allows customers from all over the world to buy products from Ugandan merchants and pay in installments with cards or mobile money, has expanded to Nigeria. Mobile payments and shopping app Xente enables consumers and African businesses to transact efficiently and safely on any

Nigeria’s Paylater rebrands in shift to digital financial services platform

Nigeria’s Paylater rebrands in a shift to digital financial services platform OneFi is on an expansion push after raising US$5 million in debt funding last month, and recently boosted its financial services offering with the acquisition of Nigerian payments startup Amplify. It has followed that up by rebranding Paylater as Carbon to reflects the

Streetwear marketplace Bump raises $7.5M

Bump, the Y Combinator-backed marketplace for streetwear, is announcing that it has raised $7.5 million in Series A funding. Bump’s  Jack Ryder told me that even before starting the company, he and his co-founder Sam Howarth were active in buying and selling streetwear and sneakers — but