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MENA VC Flat6Labs’ new fund to back startups in East, West Africa
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Flat6Labs is amongst the most active VCs in Africa, having invested in over a hundred startups to date, across the Middle East and North Africa (MENA) region. And now, after 11 years, the Egypt-based seed-stage accelerator is setting out on a foray into East and West Africa through a $95 million Africa Seed Fund investment vehicle that will mark its first venture outside MENA.
Egypt-based seed-stage accelerator Flat6Labs is launching a $95m Africa Seed Fund investment vehicle to expand into East and West Africa. The fund will be sector agnostic, investing in fintechs, healthtech, logistics, mobility, cleantech, agtech, retail, and e-commerce startups in Kenya, Nigeria, Senegal, Côte d’Ivoire, Ghana, Cameroon, and North Africa. Flat6Labs will invest between $150,000 and $400,000 and make follow-on investments of up to $500,000. The accelerator plans to back up to 170 startups over the next five years. Previously, Flat6Labs has run country-specific funds, including a $10m Anava Seed Fund for Tunisian startups.
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