Voltron Capital, an Africa-focused venture capital fund for businesses, has been launched by Olumide Soyombo.
Olumide Soyombo is a serial investor in tech firms in Africa, having made investments since 2014.
The venture capital firm, which was co-founded with Abe Choi, CEO of Simple Dealer, will invest in up to 30 firms across a variety of industries, marking a major effort to address African tech startups severe lack of access to early-stage funding.
With investment sums ranging from $20 to $100K, the company will focus primarily on startups in Nigeria, Kenya, South Africa, and Northern Africa.
With a portfolio of 33 African tech businesses, including Mono, PiggyVest, Spleet, Migo, TeamApt, and Paystack, Soyombo, who is also the Co-Founder of LeadPath Nigeria and Bluechip Technologies, has over 10 years of early stage investing expertise.
Soyombo’s portfolio has raised over $70 million in funding, ranging from pre-seed to Series A, and he has overseen two secondary and one primary exits throughout his time as an investor.
Abe Choi, a co-founder of Voltron Capital, has also invested in 15 digital businesses, two of which have gone public, and the founders’ current portfolio spans a wide range of industries, including finance, energy, logistics, retail, and education.
“We have a track record of identifying and assisting some of Africa’s most high-growth firms with money at pre-seed stage, as well as long-established contacts with corporates and regulators, which helps make what can be a difficult journey for African entrepreneurs considerably smoother,” Soyombo says.
We want the next wave of African tech success stories to have a global influence, not only on the continent; we’re certain that, thanks to Abe’s strategic connections in the US, we can give our portfolio with the best possible prospects to do so through our US and global network.
“Voltron Capital is the start of another tremendously exciting journey for Abe and myself, but it is also a celebration of Africa’s whole tech space’s progress to date,” Soyombo added.