Global ride-sharing and mobility giant Yango Group has announced the launch of a $20 million African venture fund aimed at backing early-stage startups across the continent’s rapidly growing tech ecosystems.
The Yango Africa Venture Fund will focus on investing in startups operating in sectors such as mobility, fintech, logistics, e-commerce, and sustainability. The fund’s goal is to support entrepreneurs building solutions tailored to the unique challenges and opportunities of African markets.
“We believe in the future of Africa’s innovation economy,” said Elena Goryunova, Head of Yango Group’s Emerging Markets division. “With this fund, we want to empower the next generation of African founders who are transforming industries and improving lives with technology.”
Headquartered in Lagos with satellite offices in Nairobi and Cape Town, the fund will provide seed and early-stage capital, with investments ranging from $100,000 to $1 million per startup. In addition to funding, portfolio companies will gain access to Yango’s global network, technical expertise, and mentorship programs.
Yango Group, best known for its ride-hailing, delivery, and urban mobility services in over 20 countries, has been steadily deepening its presence in Africa. The launch of the venture fund represents the company’s latest long-term commitment to fostering the continent’s startup ecosystems.
“The Yango Africa Venture Fund is not just about capital,” said Goryunova. “It’s about building partnerships and creating pathways for African startups to scale regionally and globally.”
The fund plans to make its first batch of investments by late 2025, targeting startups in Nigeria, Kenya, South Africa, Egypt, and Ghana. A special focus will be placed on companies driving financial inclusion, sustainable mobility, and digital infrastructure development.
Africa’s venture capital landscape has seen significant momentum, with tech startups raising over $6 billion collectively in 2024. Yango’s move is expected to further energize the space, offering founders a new source of funding backed by a global tech powerhouse.
Read more on Tech Gist Africa:
Egyptian payment solutions startup enza has secured $6.75 million in seed funding
Jem HR, a South African startup has closed a US$3.3 million pre-Series A funding round
Trade Shield, a South African fintech startup Trade Shield raises $820k in funding
