Africa: Magic Fund Raises $30m to Scale Its Global Founders-Backing-Founders Fund

Influential entrepreneurs like Paul Graham and Naval Ravikant always preach the need for startups to have founders-turned-investors on their cap table. As Ravikant puts it, "founders want to know that the people they are taking money from have first-hand experience."

His platform AngelList has helped individual founders-cum-investors source and participate in deals via collectives. However, some venture firms have taken this up a notch by bringing founders to create a fund and invest together.

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