Two Japanese venture capital firms — Uncovered Fund and Monex Ventures — have joined forces to launch the Uncovered Monex Africa Investment Partnership, a $20 million fund aimed at supporting early-stage startups in Africa and the MENA region.
The fund, sized at ¥3 billion (approximately $20 million), will target seed to pre-Series A companies building innovative solutions in high-growth sectors. Its focus areas include FinTech, logistics, mobility, and sustainability, all of which are crucial to driving Africa’s next wave of economic transformation.
Driving Growth in Africa’s Digital Economy
Africa’s startup ecosystem has been on a strong growth trajectory, attracting billions of dollars in venture capital over the past few years. However, many early-stage companies still struggle to access funding that helps them scale. This new partnership between Uncovered Fund — a VC firm known for investing in emerging markets — and Monex Ventures, the corporate venture capital arm of Monex Group Japan, aims to close that gap.
By combining Uncovered Fund’s deep African networks with Monex Ventures’ corporate reach in Japan, the partnership is designed as a strategic bridge. It not only provides capital but also connects African startups with Japanese corporates seeking innovation, technical expertise, and market collaboration.
Key Sectors of Focus
The $20M fund will prioritise investment in:
- FinTech: Mobile payments, microlending, and SME-focused B2B financial platforms.
- Distribution & Logistics: Last-mile delivery, e-commerce fulfilment, and supply chain innovations.
- Mobility: Used-car marketplaces, EV platforms, and battery-as-a-service solutions.
- Sustainability: AgriTech, crop optimisation, and carbon credit innovations that address climate resilience.
A Strategic Partnership for Inclusive Growth
With this initiative, African founders gain access not only to growth capital but also to Japanese expertise and potential corporate partnerships. According to industry observers, this could accelerate the scaling of transformative startups across Africa while giving Japanese companies exposure to fast-growing markets.
The launch of the Uncovered Monex Africa Investment Partnership underscores Japan’s growing role in global venture capital and highlights Africa’s position as one of the most dynamic regions for startup innovation.
