Endeavor Catalyst, a New York-based venture capital firm with over $500 million in assets, intends to substantially increase its investments in African startups over the next five to seven years. Since 2017, the firm has invested in 40 African companies, including South Africa’s TymeBank and Nigeria’s Flutterwave and Moniepoint, all valued above $1 billion. Currently, African startups constitute about 8% of Endeavor Catalyst’s global portfolio; however, Allen Taylor, a founding partner managing the fund, anticipates this proportion could double as digital adoption and tech talent continue to grow across the continent.
Source: Semafor
