Verod-Kepple Africa Ventures (VKAV) has announced the closure of its first fund at $60 million. A Pan-African Vision with Global Backing VKAV is a collaborative effort between West African private equity firm Verod Capital Management and Tokyo-based venture capital firm Kepple Africa Ventures. Notably, the fund includes backing from Japanese powerhouses such as SBI Holdings, Toyota Tsusho Corporation, and Sumitomo Mitsui Trust Bank. Nigeria’s SCM Capital and other institutional investors from Japan, including Taiyo Holdings also contributed. VKAV’s investment strategy focuses on digital infrastructure builders, efficiency solvers, and market creators.
Affordable childcare may be more important than developments in AI for American innovation, says Reshma Saujani, founder of Moms First and Girls Who Code. Saujani spoke about her concerns about affordable childcare in light of emergency federal support for US childcare coming to an end. Emergency Federal Childcare Funding Expires The childcare funding expired on September 30, leaving as many as 70,000 childcare centers at risk of closing, with as many as 3.2 million children losing their spots. The funding stemmed from the American Rescue Plan Act (ARPA), the $1.9
25 innovative African startups have been selected for the third cohort of Google for Startups’ Black Founders Fund. Head of Startup Ecosystem, Sub Saharan Africa, Folarin Aiyebusi wrote, “we’ve seen firsthand how the startups in Africa are embracing the limitless possibilities of tomorrow, and it’s truly inspiring.” Africa’s population is rapidly increasing, with projections indicating that by 2050, one-third of Africans will be under 35. This demographic wave offers many opportunities for startups to cater to a booming market. Now in its third year, the Google for Startups Black Founders
Virtual cycling platform Zwift has revealed its plans for the second year of its Black Celebration Series with its approach this year being three-pronged. It will focus on Internal education programs, social impact initiatives and celebratory rides all throughout 2022. Last year Zwift first introduced its 12-month series of events that’s intended to celebrate the achievements of Black athletes with group rides led by featured athletes. At the launch Zwift said: “We are creating an inclusive environment that empowers and uplifts the community as a whole.” Zwift is running a
Project Entrepreneur, a UBS program designed to level the playing field for female founders, and Hello Alice, a multi-channel platform that helps businesses launch and grow, announced the winners of its Democratizing the Friends & Family Round program, which attracted 12,000 applications.
India had eight unicorns in 2018, nine in 2019, and 11 in 2020. Last year, the country celebrated 42. Similarly, it took China five years to reach five unicorns between 2010 and 2015, but then saw 21 unicorns in 2016 – and 91 unicorns in 2019. While Latin America has followed a similar trajectory, raising $14.8 billion in 2021 – more than it had raised between 2014-2020 combined – and minting nine of the region’s 17 unicorns. Now Africa, once a continent that was lagging behind in the investment race, is reportedly seeing $1
Cambridge-based post-seed accelerator Deeptech Labs has announced its autumn deeptech startup cohort.
Black-owned startups will soon have access to billions of dollars, thanks to this latest move by Vice President Kamala Harris.
Black Enterprise — one of the US’ leading Black digital media brands, with more than 8 million monthly unique visitors—will present its inaugural Sisters Inc. Summit on December 7. The event will feature some of the most influential and dynamic business owners. They will feature in a candid conversation with each other—and the corporations and investors who support them. Whether you consider yourself a founder, a CEO, a boss, or a side-hustler, SistersInc. is said to represent “a unique and valuable opportunity to connect to a powerful sisterhood of success to share resources,
Black-Owned Start-Ups Awarded $1.2M In Financial Support Thanks To The Meda Million Dollar Challenge
Three Black founders have walked away with enough money to make their businesses flourish after the largest Black, Indigenous, and People of Color (BIPOC) entrepreneurial competition in the nation picked them as winners. This is the fourth annual competition where five companies received $1.2 million in financial support. Metropolitan Economic Development Association – also known as Meda – was founded by a group of Minnesota business leaders looking to attack inequity within minority communities in the state. “Meda operates a growing Community Development Fund Institution (CDFI) that provides needed capital for BIPOC businesses
