Samurai Incubate Inc, the popular venture capital firm from Tokyo closed its “Samurai Africa 2nd General Partnership” fund very recently. They’ve successfully managed to secure about $18.6 million which is roughly 2.026B yen.
This platform with pretty much an oversubscribed funding firm saw a scope of corporates and several financial investors joined along with 54 investors joined as LPs and that’s not all. One outstanding LP is the Toyota Tsusho Corporation and that comes with an assorted organization within the same region and it is kind of a big deal for the platform. The firm literally established Mobility 54 which is a CVC hoping to put about $45M into several other businesses including newer emerging Fintech businesses, Logistics, and African Mobility. Their secured fund literally outperformed the focused on a measure of $18.4M which is roughly 2 billion yen making it one of the biggest raised funds.
Now that’s not all about the fund, since as of now, there are other players as well including Kenya, South Africa, and Nigeria. And with them, Samurai Incubate has added Egypt as one of their asset’s engaged nations for simple yet focused aims. That includes expanding the greatest measure of venture up to 80 million yen for every arrangement. All of that to address the issues of a more extensive scope on partnering with more startups along the way.
The company did make some solid strategies and executing them by beginning to put resources into African new businesses in July 2018, and as one of the most valued Japanese VC firms, its portfolio right now remains at 26 organizations. All of that for certain organizations to be able to receive funds from their subsequent asset including, Pricepally, Oneport, FMG, Shyft Power Solutions, Evolve Credit, and Eden Life.
Samurai Incubate Inc’s latest funds will be used for some very fundamental strategies. That includes speeding up interest in African new businesses along with the help of the LPs and hopes to target 30 to 40 new organizations at the Pre-seed and Seed stages. All of that by adding follow-up pre-Series An and Series An interests in 7 to 10 existing portfolio startups so that it gets executed more smoothly and according to the plan.