Tech in Africa
African-focussed investment firm 4DX Ventures has completed a close of its second $60 million fund. Launched in the first quarter of 2021, the raise exceeded its initial target of $50 million. Among the top LPs in the fund are asset managers, a university endowment, tech founders, family offices, hedge fund portfolio managers, and several other investors in private equity and venture capital spaces.
The fund’s founders told TechCrunch that 4DX Ventures will mainly fixate on pre-seed to Series B. Founding partners Walter Baddoo and Peter Orth have known each other for over 20 years and have years of operational and financial experience in global financial institutions. They officially started 4DX Ventures in 2017 achieving early successes in Andela and Flutterwave.
The first fund run by 4DX Ventures was slightly over $20 million and carried out investments in Sokowatch, mPharma, etc. With a presence in Accra, New York, and Cairo, 4DX Ventures has further backed companies like Yoco, Kudi, Autochek, Breadfast, and MaxAB from this second fund. Operating primarily as a ‘generalist’ fund, 4DX Ventures writes $100,000 to $1 million cheque sizes, anywhere from pre-seed to series B.
Source: TechCrunch
