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VC firm Delta40 raises Sh2.6bn to fund African startups
The venture firm pools capital from development finance institutions, foundations, family offices, high-net-worth individuals and 25 startup founders, creating what it calls a “founders backing founders” ecosystem.
American venture capital (VC) firm Delta40 has secured $20 million (Sh2.6 billion) to expand its financing for startups in the country and across Africa.
The round drew 54 investors from 13 countries, the investment firm said in a statement. Backers include US tycoon and philanthropist George Soros’s Soros Economic Development Fund, Dutch development bank FMO, GIZ, Autodesk Foundation and The Rockefeller Foundation.
