This archive report was first published on 13 January 2020.
January 13, 2020, marked the launch of Samurai Africa Fund II, a new $18.3 million fund by Samurai Incubate to invest in startups in Kenya, South Africa, and Nigeria.
The fund, which has a ticket size of about $46,000 to $460,000, aims to support startups seeking seed to series A rounds in various sectors, including fintech, insuretech, logistics, medtech, healthcare, retail, and e-commerce, AgriTech, transport, and mobility, and entertainment.
Samurai Africa Fund II is a follow-up to its first fund, which has been investing and supporting growth in startups operating on the continent of Africa. The firm currently provides investment and incubation support to 18 companies.
According to Samurai Incubate, the new fund will target African countries, mainly Kenya, South Africa, and Nigeria, with a focus on promoting entrepreneurship and supporting the growth of startups in these regions.
Samurai Incubate is currently commissioned by the Japan International Cooperation Agency (JICA) to conduct research on the promotion of entrepreneurship and the formation of a startup ecosystem in the African region.
Samurai Africa Fund II started as Leapfrog Ventures in May 2018 but rebranded to Samurai Incubate Africa in 2019. The fund has invested in startups in Rwanda, Kenya, Tanzania, Uganda, South Africa, and has added Nigeria to its second fund.
