Startupbootcamp, a leading global tech accelerator, has announced a partnership with Ashish Thakkar’s Mara Group and Blend Financial Services to establish a $250 million fund dedicated to accelerating African tech startups.
The partnership was finalised at the Future Investment Initiative which was held between October 29 and 31 in Saudi Arabia, to source additional funding from development institutions and support startups in key growth stages across the continent.
The fund will begin investing in the next three to six months, focusing on emerging hubs in South Africa, Nigeria, Kenya, Ivory Coast, and Egypt.
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Fuelling Africa’s fast-growing tech landscape
Africa’s tech sector is expanding rapidly, driven by a young, tech-savvy population and a surge in digital transformation across various industries. With its focus on early-stage and pre-IPO rounds, the fund aims to provide startups with the capital and resources needed to address infrastructure challenges and scale their innovations. Key tech hubs, including Cape Town, Johannesburg, Nairobi, and Ebene in Mauritius, are expected to play a leading role in Africa’s digital transformation, according to recent studies by New World Wealth and Platform45.
A commitment to Africa’s startup ecosystem
Ashish Thakkar, a prominent African business leader and the founder of Mara Group, formalised this partnership at the Future Investment Initiative held in Saudi Arabia last week. The fund will channel investments toward startups with strong growth potential and seeks to address critical gaps in Africa’s digital infrastructure. Thakkar highlighted the fund’s strategic vision, noting its alignment with Africa’s growing demand for digital solutions and innovation.
“I’ve been searching for a platform that can support our angel investing efforts at scale,” said Thakkar, who co-founded Atlas Mara with former Barclays CEO Bob Diamond. “This fund is a promising start, with potential for later-stage investments over time.”
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Investing in Africa’s future tech leaders
The $250 million fund represents a major investment in Africa’s startup ecosystem and reflects Startupbootcamp’s commitment to fostering innovation on the continent. The initial focus will be on startups at the early stages and in pre-IPO phases, with plans to expand into funding opportunities at different growth stages as the venture matures. By prioritising startups that can address Africa’s infrastructure and technological needs, the partnership aims to create a foundation for long-term economic impact.
This initiative follows a broader trend of global investors recognising the potential of Africa’s tech sector and its capacity for high returns and transformative social impact. According to Thakkar and his partners, the fund is designed to support startups in a way that empowers local talent and drives regional growth, particularly in sectors like fintech, agritech, healthtech, and e-commerce.
With this substantial funding boost, Startupbootcamp and Mara Group’s collaborative venture marks a pivotal step in supporting Africa’s innovators and positioning the continent as a prominent player in the global tech landscape. As investment begins to flow in the coming months, the fund is expected to set a new benchmark for tech startup support across Africa.