Serena Williams, NBK Capital join foray to fund African startups

Tennis star Serena Williams and NBK Capital Partners have joined a growing number of investors in African startups seeking to take advantage of a tech and innovative-finance boom on the continent. Williams’s Serena Ventures, AT&T Capital, Distributed Global and others participated in raising $6.5 million for Nigerian crypto products developer Nestcoin, while NBK last week announced a $10 million facility with Moove, Uber’s vehicle supply partner in Africa.

Nestcoin, started by Bademosi and Taiwo Orilogbon in November, joins a growing list of Africa-focused startups raising money from investors seeking returns from emerging and frontier markets. Meanwhile investors, such as NBK, said they are aware of the risks that come with investing in Africa, from regulation to governance and foreign-exchange shortages — and still think it’s worth it.

Source: Digital Coin News (digitalcoinnews.net)

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