The United States-based venture capital firm, Tekedia Capital, has launched a new syndicate funding cycle to attract individuals and organisations to co-invest in early-stage tech startups across the world.
The company said it was to advance the spirit of entrepreneurial capitalism through the creation of viable funding opportunities to deepen economic growth and advance local communities across Africa.
The Tekedia Capital Syndicate investment cycle, which will end on May 8, 2023, seeks to pool funds from investing entities to upscale the business activities of promising African-based tech firms irrespective of the sectors they operate in. This is in a bid to leverage the firm’s extensive grassroots connections to enhance the process of building tech unicorns out of Africa.
Speaking on the launch of the new funding cycle, Ndubuisi Ekekwe, a professor and chairman of Tekedia Capital, said that there was a dire need to support early-stage tech companies across the African continent.
“Economic projections about Africa indicate that the continent is on the path to economic ascension due to the innovation and ingenuity of young people. This is made evident as recent developments reveal that the African continent is experiencing a Cambrian moment where tech-anchored startups are rapidly re-wiring markets, leading to transformations in industrial sectors. It is against this backdrop that we at Tekedia Capital support these companies, and are inviting interested persons, organisations, and governments to co-invest through our syndicate funds in these tech companies. Here, we are funding future economic empires for shared prosperity in Africa,” he said.
Tekedia Capital is a leading Pan-African venture syndicate company that is passionate about funding the foundations of the next African economy. This is evident as the firm has invested millions of dollars in multiple tech companies like Touch and Pay (the team behind Lagos State Cowry Card), Mintyn, OurPass, Mecho Autotech, Kladot, and Bitmama.
