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Backed by Japanese investors, Verod-Kepple’s fund will invest in Series A and B startups across Africa
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Last month, pan-African venture capital firm Verod-Kepple Africa Partners reached the second close of its first fund (Verod-Kepple Africa Ventures), targeting African startups at $43 million. Verod-Kepple Africa Ventures (VKAV) achieved its first close last March (at $20 million) and aims to attain its final close by the end of the year at $100 million; if reached, VKAV will join an exiguous number of Africa-focused funds with $100 million or more in total capital allotment.
Verod-Kepple Africa Partners has reached the second close of its first fund, Verod-Kepple Africa Ventures, with $43m, following the $20m first close last year. The fund aims to reach its final close of $100m by year-end, which will make it one of a few Africa-focused funds with more than $100m. Verod-Kepple Africa Ventures is a joint venture between private equity firm Verod Capital and Tokyo-based venture capital company Kepple Africa. It is sector-agnostic, although it has an investment thesis of three types of businesses: infrastructure and platform-type, B2B efficiency, and lifestyle businesses driven by internet penetration.
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