Africa: Japanese VC Samurai Incubate Closes $18.6m Fund for African Startups

Samurai Incubate, a Tokyo-based venture capital firm, announced today it has closed its "Samurai Africa 2nd General Partnership" fund, totalling 2.026 billion yen (~$18.6 million).

According to the firm, the fund was oversubscribed as it targeted 2 billion (~$18.4 million) and a total of 54 investors joined as LPs. One notable LP is the Toyota Tsusho Corporation, which has a diverse network across the continent. The firm founded Mobility 54, a corporate venture capital (CVC) looking to invest $45 million into African mobility, logistics, and fintech startups.

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