Intel Capital is now shifting its investment focus to startups and early-stage companies in the Sub-Saharan Africa.
The firm says it is aiming at boosting venture capital opportunities and forming foundations for long-term economic growth in the region.
Intel Capital’s Marcin Hejka said the firm is looking at the opportunities across the entire Sub-Saharan Africa.
Rebecca Wanjiku of PCadvisor.co.uk quoted Hejka as saying:“We are interested in startups focusing on content creation, software and applications, consumer Internet, e-commerce, data center and services.”
He adds that although they will invest in technology companies at all stages of development, majority of their investments will be at the expansion stages.
Intel Capital hopes to establish economies like South Africa, Nigeria and Kenya where they expect more investment opportunities. It will however not leave out the rest of Sub-Saharan Africa.
Sean Smith, an analyst at Invested Development, a management fund that invests in early-stage startups told the PCadvisor.co.uk that the African funding space has become active with global VCs setting up operation bases in the last two years. It expects its entry to boost confidence and act as a welcome note for other investors.
Smith told the PCadvisor.co.uk: “Intel’s presence is a vote of confidence for high growth ventures across the continent. It is exciting however, no one fund will make or break the industry and there is still a long way to go before any African market truly proves its potential.”
Africa has recently experienced an influx of investors including 88mph, Invested Development and recently launched Savannah and IFC Funds.
Venture Capital for Africa network also links African startups with VCs.
