Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
Nairametrics
No Result
View All Result
Home Spotlight

Google plans to invest $50M equity-based fund in African startups

Janet JohnbyJanet John
1 year ago
in Spotlight, Tech News
Gmail and other Google services get restored after massive outage, Google set to extend footprints with acquisition of smartwatch company, Fitbit  , Google wants to start banking with you ,Google partners Flutterwave to train 5,000 merchants, Google to pay Online publishers for high quality contents
Share on FacebookShare on TwitterShare on Linkedin

Google’s Africa Investment Fund plans to invest up to $50 million in African early and growth-stage startups, stepping up efforts to assist more businesses on the continent.

Selected companies will be given access to Google’s employees, network and technologies, to help them build products.

Google unveiled its plans today at a virtual event, with CEO Sundar Pichai announcing the company’s aim to invest $1 billion in tech-led initiatives in Africa over the next five years.

What you should know

Until now, Google has met its commitments by supporting startups in Africa through its Google for Startups Accelerator Africa program and the newly created Black Founders Fund.

Over 80 startups from seed to Series A have benefited from the accelerator program’s equity-free mentorship and resources over the last three years. Twiga, Paystack, and Piggyvest are among the 80+ businesses selected into the Google for Startups Accelerator Africa, which has generated over $100 million in venture financing.

The Black Founders Fund provides non-dilutive financial awards to black-led companies in three regions. The Black Founders Fund manages a $5 million fund in the United States, a $3 million fund in Africa, and a $2 million fund in Europe.

So far, 50 startups have been chosen to take part in the Africa program, which will begin on October 13th. Each will receive up to $100,000 in equity-free funding, as well as Google Cloud credits, Google.org ad grants, and other resources.

What they are saying

Nithin Gajria, the managing director of Sub-Saharan Africa, Google, said “There is a significant gap in terms of access to funding. Some groups do not have access to funding as much as other groups. We’ve seen that with black and female-founded startups. And our effort with the Black Founders Fund is to help close that gap to some extent.”

The newly announced $50 million Africa Investment Fund will see Google take equity in high-growth African startups in exchange for varying check sizes.

Related

Tags: Africa Investment FundBlack Founders FundGoogleGoogle's Africa Investment FundSundar Pichai

Comments 1

  1. Ahmadu says:
    October 7, 2021 at 1:47 pm

    How does one apply for these funds?

    Reply

Leave a Reply Cancel reply

Press one
hfm
Mega Millions
fidelity banner
SME
HFM
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • RECAP: Drama at Seplat Energy Plc as Access Holdings finalises new deal
  • FG confirms 3-day 2023 census exercise will commence on May 3
  • Learnhub Institute hosts second edition of the Women, Wealth, and Real Estate Conference

Follow us on social media:

Recent News

RECAP: Drama at Seplat Energy Plc as Access Holdings finalises new deal

RECAP: Drama at Seplat Energy Plc as Access Holdings finalises new deal

March 26, 2023
FG confirms 3-day 2023 census exercise will commence on May 3

FG confirms 3-day 2023 census exercise will commence on May 3

March 26, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions
  • 2023 Elections

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections

© 2023 Nairametrics

error: Alert: Content selection is disabled!!