Browsing: unicorn founders

  • Norrsken Foundation has set up a US$200 million fund aimed at backing Africa’s future tech giants
  • So far, the fund, dubbed the Norrsken22 African Tech Growth Fund, has raised US$110 million
  • The firm will make 20 investments at an average ticket size of US$10 million and may go as high as US$16 million, including follow-on rounds in some portfolio companies

Stockholm-based Norrsken Foundation has set up a US$200 million fund aimed at backing Africa’s future tech giants. 

The non-profit organization that seeks to find solutions to problems including poverty, famine, environmental issues, and mental health has its sights set on key markets across the continent to fast-track the growth of African tech firms. 

The announcement comes barely two months after the foundation opened its Norrsken House in Kigali, Rwanda, which plans to accommodate thousands of entrepreneurs by next year.

The foundation has now partnered with thirty unicorn founders and a