Ajim Capital, a venture capitalist firm based in the US has launched a $10 million fund to invest in African tech startups allowing entrepreneurs to focus on growing their businesses.
According to the firm, the fund will provide checks of $25,000 to $150,000 to tech companies across the continent.
As a result of technological advancements and subsequent increase in tech startups in Africa, the need for funding has arisen and Ajim capital has decided to be the push that Tech startups need to grow to become successful world-acclaimed companies. Notably, about $5 billion worth of investment was recorded in the African tech industry in 2021
Ajim Capital would be considering startups whose founder has entrepreneurial experience in the industry relevant to their technology, whose technology has indications of a direct market fit, highly scalable software solution, and has a potential of a ten times return for investors.
The firm is also looking to fund tech startups that have potential for rapid growth and fast adoption and can provide excellent returns to investors. According to Ajim Capital, the company also has to fill significant economic and infrastructural gaps for consumers and enterprises across sub-Saharan Africa.
What you need to know about Ajim Capital
Ajim Capital was founded by, Eunice Ajima the founding partner of Ajim Capital, born in Cameroon and moved to the US in 2011.
She is a 2x tech founder and an executive with experience ranging from start-up funding and management to leading an over $10 million tech startup.
Ajim Capital has invested in several companies like Mono, Pay Hippo, Talent QL, Lemonade Finance.