Serial tech entrepreneur Eunice Ajim floats early-stage VC fund for Africa

 Serial tech entrepreneur Eunice Ajim floats early-stage VC fund for Africa

Eunice Ajim

Cameroonian-American serial entrepreneur and investor Eunice Ajim has floated a $10-million fund to invest in African tech startups in the pre-seed to seed stage.

Ajim Capital will seek to invest $25,000 to $150,000 in each venture. It aims to provide funding to 60-80 industry-agnostic tech startups in sub-Saharan Africa.

Besides the fund, Ajim Capital also runs an angel network and investment syndicate for the African continent.

The investment house says it has already backed companies like Mono, Bamboo, Mecho Autotech, Payhippo, Dunia Pay, TalentQL, Star Kitchen, Lemonade Finance, PayDay, Wayamoney. It is not clear of these investments were routed via the angel network or are among the personal angel investments by Ajim.

Eunice Ajim joins names like Idris Bello, who has been active in the angel investment network in the continent, especially in Nigeria. Bello is in the process of raising a micro-VC fund with a hard cap of $15 million.

She also joins Kola Aina, who made a first close of a new VC fund at $40 million.

Ajim was previously a co-founder of OpenTeams, an online marketplace that makes it easy for users of open source to connect and transact with services providers. Prior to OpenTeams, she founded DataGig, an online marketplace where enterprises hired vetted data experts and vendors for their big data and analytics projects on-demand.

She’s also a Founder Institute and SputnikATX alumna, programs that teach all facets of startup development and growth from concept, to fund-raising, to validation and expansion, all the way to exit.

Vivek Sinha

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