Monex Ventures and Uncovered Fund Launch $20M Fund for African and Middle Eastern Startups
Monex Ventures, in collaboration with Tokyo-based Uncovered Fund, has announced the formation of a ¥3 billion (approximately $20 million) investment partnership. The fund aims to support early-stage startups operating in Africa and the Middle East, specifically those focused on developing digital and physical infrastructure. This initiative represents a significant boost for the tech ecosystem in these regions, providing crucial capital to fuel innovation and growth.
Investment Focus and Strategic Approach
The Uncovered Monex Africa Investment Partnership will prioritize investments in key sectors deemed essential for widespread technology adoption across the continent. These sectors include finance, logistics, mobility, and sustainability. Uncovered Fund, with its established presence in Africa since 2019, will contribute valuable local deal sourcing capabilities and regional expertise. Monex Ventures will leverage its corporate relationships in Japan, offering startups access to established Japanese companies for market entry, technical assistance, and distribution support. The fund is actively exploring investment opportunities within a range of areas, including consumer payments, micro-lending platforms, B2B payment and accounting solutions, last-mile delivery services, warehouse management technology, retail tech, used vehicle marketplaces, early-stage EV ecosystems, and agritech ventures, as well as those focused on carbon-related initiatives.
This partnership highlights the growing interest in the African and Middle Eastern tech landscapes and the potential for these regions to become global leaders in innovation. The focus on infrastructure development signals a commitment to building the foundations for long-term technological advancement and economic prosperity.
Keywords
Related Keywords: Monex Ventures, Uncovered Fund, 20M Fund, TechMoran, Venture Capital, Startup Funding, Investment Fund, Seed Funding, African Startups, Tech Investments
