Uncap Launches New $33 Million Fund to Boost African SMEs

Uncap, a venture capital firm based in Munich and Nairobi, has launched a $33 million funding initiative aimed at accelerating the growth of small and medium-sized enterprises (SMEs) across Africa. Unveiled on September 18, 2024, this new initiative, named Unconventional Capital, introduces an innovative form of financing known as non-dilutive, revenue-based funding. This approach allows early-stage companies to receive capital without sacrificing equity.

Led by Investment Principal Esther Ndeti and CEO Franziska Reh, Uncap is partnering with key organizations such as O-Farms, supported by the Ikea Foundation, and SAIS, an agritech project funded by the German government. These partnerships are set to boost the growth of African enterprises, particularly in agriculture and technology. Global backers of the fund include the Bill & Melinda Gates Foundation and the Bayer Foundation, enhancing its reach and impact.

Source: Tapiwa Matthew Mutisi / Innovation Village