Fund eyes local tech start-ups with Sh22bn

Funding of Kenyan start-ups by international investors declined by Sh15 billion last year. FILE PHOTO | NMG

A group of 30 technology entrepreneurs with links to Silicon Valley have raised $200 million (about Sh22 billion) for investing in promising tech start-ups in Kenya and elsewhere in Africa.

The new Africa-focused fund backed by Stockholm-based Norrsken fund will target to provide early-stage funding to promising start-ups and founders in Kenya and the region, the Swedish fund said in a statement on Monday.

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