Tech in Africa
Uncovered Fund, is a Japanese VC fund targeting early-stage startups across Africa. The fund announced a $15 million fund expected to close at the year’s end. Based in Tokyo, Uncovered Fund was founded in 2019 by Takuma Terakubo and is expected to invest $50,000 to $500,000 in African startups in the series and Seed funding stages.
Tekurabo previously worked for the Samurai Incubate Fund while working as the CEO of Leapfrog Ventures. This fund targeted early-stage African startups and has raised over $4.5 million across Kenya, Uganda, Nigeria, South Africa, and Rwanda.
In comments shared to Techcrunch, Terakubo reveals that the fund does not make scattered one-time investments but offers long-term growth support accompanied by follow-on investments.
The Uncovered Fund focuses on startups across Nigeria, Kenya, and South Africa and operates in logistics, fintech, retail, health tech, agritech, MaaS, and other smart city sectors. The Uncovered Fund already has a portfolio into the following startups: Kenya e-commerce platform Sky Garden, US-based health startup RxAll, Nigeria-based digital freight company SEND Technologies, French-based Africa mobility startup Gozem, Kenya fintech LipaLater.
