Sherpa Ventures, a Venture firm based between Singapore, Kenya, and the US has announced the launch of its US$1 million fund for pre-seed tech startups in Africa.
The new US$1 million investment vehicle called “Basecamp Fund” aims to invest US$25,000 to US$50,000 in startups that usually raise less than US$500,000.
Through the fund, Sherpa Ventures also looks to work with startups over six to nine months before deciding to follow on with more funding.
“More than a venture fund – we are a supportive and collaborative global community […] of capital, expertise, and experience who has built and operated some of the strongest startups on the continent, Asia, and across the world,” said Sherpa Ventures co-founder Aaron Fu.
Prior to Sherpa Ventures, Fu served as the head of growth of BFA Global’s fintech-centered Catalyst Fund. He leads Sherpa Ventures alongside ex-Uber Africa launcher Alastair Curtis and Nikhil Patel, the former chief operating officer of the African on-demand streaming platform Iroko.
Sherpa Ventures has made two investments so far, joining the funding rounds of fintech startups OnePipe and Boost.
Sherpa Ventures works with a community of investors to help founders strengthen and scale their startups. It does this by injecting capital, sharing local experiences, helping form partnerships, and aiding in market entry, among others.
