ShareAduna Capital, a venture capital firm based in Africa, has recently launched a $20 million fund focused on the Northern Nigerian startup ecosystem. By shifting its focus from the more traditional investment hotspots, Aduna Capital aims to revolutionize the investment landscape. Aduna Capital is set to invest in over 50 early-stage companies, concentrating on pre-seed and seed-stage startups. Aduna Capital is also exploring innovative approaches like profit-sharing agreements to align with the preferences of local investors who may be hesitant about the traditional venture capital model. Aduna Capital aims to drive economic development, foster inclusivity, and spur innovation both in Nigeria and internationally, significantly impacting Africa.

Source: The North Africa Journal November 24, 2023 21:07 UTC