Japanese VCs Launch $20 Million Startup Fund for Africa & Middle East

Two Japanese venture capital firms, Uncovered Fund and Monex Ventures, have announced the launch of the Uncovered Monex Africa Investment Partnership, a $20 million fund aimed at supporting early-stage startups across Africa and the Middle East.

The fund will target startups working in sectors including finance, mobility, distribution and sustainability, offering investments of up to $2 million per company. Alongside funding, the partnership aims to connect regional innovators with Japanese corporations seeking new opportunities in emerging markets.

The launch comes at a time when Africa’s venture funding has slowed, but long-term indicators - such as a projected population increase to 2.5 billion and rapid growth in mobile internet adoption - position the region for strong digital expansion.