Grace Ashiru
Botswana Tech Fund 1 has reached a $6.7 million first close as it prepares to invest in technology companies supporting digital growth across Southern Africa.
The multi-stage venture capital fund will focus on businesses developing digital solutions for micro, small and medium-sized enterprises. Its investment model combines an accelerator-led pre-seed programme with primary and secondary investments in more established growth-stage companies.
Launch Africa Ventures has been appointed investment adviser for the fund’s first phase. The mandate forms part of the pan-African venture capital firm’s strategy of managing specialised investment accounts on behalf of third-party investors.
Botswana Tech Fund is anchored by Pula Investments, the Guernsey-based family office of Hargreaves Lansdown co-founder Stephen Lansdown. Its leadership team includes Managing Partner Martin Davis, a former chief executive of Molten Ventures, and General Partner Florence Bavanandan, who also leads platform and operations at Launch Africa Ventures.
The fund plans to support founders working to expand the use of digital technology across Southern Africa. Its organisers believe the initiative can help narrow the investment and technology gap between the region’s smaller markets and larger African technology centres such as South Africa, Nigeria and Kenya.
