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    HomeEcosystem NewsVenture Capital & Funding Sources4DX Ventures Fund III Raises $48.9M to Target African Startups

    4DX Ventures Fund III Raises $48.9M to Target African Startups

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    4DX Ventures, a New York-based venture capital firm focused on Africa, has secured $48.91 million for its Fund III, which targets early-stage technology startups across the continent. The fund has a final fundraising goal of $80 million.

    A significant investment of $10.5 million came from the International Finance Corporation (IFC), a member of the World Bank Group. This investment highlights IFC’s commitment to supporting emerging venture capital ecosystems and early-stage companies in Africa, the Middle East, Central Asia, and Pakistan. The funding originates from IFC’s $225 million venture capital platform established in 2023 to bolster these sectors.

    Africa has historically been underserved by venture capital, receiving only 2% of global venture deal volume in Q3 2023. This scarcity, coupled with a global slowdown in venture capital investment, has challenged African tech entrepreneurs. 4DX Ventures emphasizes its commitment, alongside IFC, to supporting these entrepreneurs driving innovation in critical areas like climate tech, healthcare, fintech, e-commerce, and education.

    4DX Ventures Fund III will focus on companies offering tech solutions that enhance productivity, efficiency, and competitiveness across Africa. The firm’s previous funds have invested in notable companies like Egypt’s e-commerce platform MaxAB, Ghana’s health tech firm mPharma, and Kenya’s B2B e-commerce platform Wasoko.

    A Look At 4DX Ventures

    Founded in 2017, 4DX Ventures is a Pan-African venture capital firm headquartered in New York City, with offices in Accra, Cairo, and Nairobi. The firm, led by co-founders Walter Baddoo and Peter Orth, partners with exceptional entrepreneurs building Africa’s technology future. Their previous $60 million fund, launched in 2021, invests in a variety of sectors, with portfolio companies including Autochek, Breadfast, MaxAB, Taager, Trella, and Yoco. Since its inception, 4DX Ventures has invested in over 40 companies across Africa, the Middle East, and the United States. Their portfolio companies have collectively raised over $1.2 billion in funding.

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