Microtraction Commences 2021 Investments with Strategic Backing for African Fundraising Platform Raise
Microtraction, a prominent African venture capital firm, has officially announced its first investment of 2021, backing Raise, an innovative startup focused on simplifying fundraising processes and securing crucial company data for businesses. This strategic move marks Microtraction’s initial venture of the year, following its last investment in Evolve Credit during late 2020, approximately three months prior. While the specific financial details of Microtraction’s investment in Raise were not disclosed, the VC firm’s established model, as stated on its official website, typically involves deploying $25,000 for a 7% equity stake in its portfolio companies.
Empowering African Startups Through Streamlined Fundraising
This investment underscores Microtraction’s ongoing commitment to fostering the growth of early-stage African tech ventures. By supporting companies like Raise, which provide foundational infrastructure for the startup ecosystem, Microtraction continues to play a vital role in enhancing the efficiency and transparency of fundraising across the continent. This initial 2021 investment sets a positive tone for the year, signaling continued support for innovative solutions that address critical needs within Africa’s burgeoning digital economy.
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