South Africa

Mexican venture firm ALL VP has a $73 million first close on its latest fund

Buoyed by international attention from U.S. and Chinese investors and technology companies, new financing keeps flowing into the coffers of Latin American venture capital firms. One day after the Brazilian-based pan-Latin American announced the close of its $150 million latest fund comes word from our sources that ALL VP, the Mexico City-based, early stage technology investor, has held a first close of $73 million for its latest investment vehicle. The firm launched its first $6 million investment vehicle in 2012, according to CrunchBase, just as Mexico’s former President Enrique Peña Nieto was coming to power with a pro-business platform. One which emphasized technology development as part of its strategy for encouraging economic growth. ALL VP founding partner Fernando Lelo de Larrea sai...

Africa Roundup: Paga goes global and 4 startups raise $99M in VC

Jake Bright Contributor More posts by this contributor Polestar unveils first production EV with aim to overtake Tesla Liquid Telecom goes long on Africa’s startups as future clients Nigerian digital payments startup Paga is gearing up for international expansion with a $10 million round led by the Global Innovation Fund. The company is exploring the release of its payments product in Ethiopia, Mexico, and the Philippines—CEO Tayo Oviosu told TechCrunch. Paga looks to go head to head with regional and global payment players, such as PayPal, Alipay, and Safaricom according to Oviosu. “We are not only in a position to compete with them, we’re going beyond them,” he said of Kenya’s MPesa mobile money product. “Our goal is to build a global payment ecosystem across many emerging markets.” Laun...

African experiments with drone technologies could leapfrog decades of infrastructure neglect

Jake Bright Contributor More posts by this contributor Harley-Davidson is opening a Silicon Valley R&D center to power EV production With a $10 million round, Nigeria’s Paga plans global expansion Samantha Stein Contributor More posts by this contributor Only 48 hours left to apply for Startup Battlefield Africa 2018 Announcing Startup Battlefield at Disrupt SF 2018 A drone revolution is coming to sub-Saharan Africa. Countries across the continent are experimenting with this 21st century technology as a way to leapfrog decades of neglect of 20th century infrastructure. Over the last two years, San Francisco-based startup Zipline launched a national UAV delivery program in East Africa; South Africa passed commercial drone legislation to train and license pilots; and Malawi even opened a...

Breaking down France’s new $76M Africa startup fund

Jake Bright Contributor More posts by this contributor Africa Roundup: African startup investments turn to fintech this winter season Nigeria’s Piggybank.ng raises $1.1M, announces group investment product Weeks after French President Emmanuel Macron unveiled a $76M African startup fund at VivaTech 2018, TechCrunch paid a visit to the French Development Agency (AFD) — who will administer the new fund — to get more details on how le noveau fonds will work. The $76M (or €65M) will divvy up into three parts, according to AFD Digital Task Team Leader Christine Ha. “There are €10M [$11.7M] for technical assistance to support the African ecosystem… €5M will be available as interest free loans to high potential, pre seed startups…and…€50M [$58M] will be for equity-based investments in series A to...

Naspers is in talks to invest in Southeast Asia’s Carousell

Naspers, the South Africa-based firm that famously backed Chinese giant Tencent in its infancy, is in talks to invest in Singapore-based startup Carousell, according to two sources with knowledge of discussions. Carousell offers a mobile app that combines listings with peer-to-peer selling across Southeast Asia, Taiwan and Hong Kong. That makes it well-aligned with Naspers’ portfolio, which features some of the world’s largest classifieds services including OLX, which covers 45 countries, Letgo in the U.S. and Avito in Russia. TechCrunch understands that Naspers is pursuing a deal with Carousell with a view to making it the firm’s key play in Southeast Asia and other parts of the APAC region. Discussions are at a relatively early stage so it isn’t clear what percentage of the company that ...