Ajim Capital, a venture capitalist firm based in the US, launches a $10 million fund to invest in African tech startups. Ajim Capital is an early-stage fund that invests pre-seed and seed capital in African founders with global ambitions.
Ajim Capital was founded by Eunice Ajima, a 2-time tech founder and an executive with experience ranging from startup 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.
Funding will be provided to the chosen tech companies across Africa from $25,000 to $150,000. Ajim Capital is looking for startups whose founder has entrepreneurial experience in the tech industry, the technology has a direct market fit, and highly scalable software solution. It is also looking for an excellent return for investors, the potential for the rapid growth & fast adoption, and to fill significant economic & infrastructural gaps for consumers & enterprises across sub-Saharan Africa.
In 2021, almost $5 billion worth of investment was reported in the African tech industry. There has been a rise in technological advancement and tech startups in Africa. Therefore, it increased the need for funding. This is why Ajim capital is determined to support tech startups to allow African entrepreneurs to grow their businesses & become globally recognized companies.