Google will begin investing in Africa-based companies through its Africa Investment Fund, running it alongside non-equity schemes Startups Accelerator Africa and Black Founders Fund.
US-headquartered internet technology provider Google has revealed at its Google for Africa event it has formed a $50m venture capital vehicle to back early to growth-stage companies based on the continent.
Africa Investment Fund will provide equity funding on a sector and geography-agnostic basis, in addition to providing the entrepreneurs with access to Google’s employees, network and technologies.
The initiative is part of $1bn in technology investment Google plans to make in Africa over the next five years, in areas…
