New Venture Capital Fund Launches to Support Southern African Tech Businesses
The Botswana Tech Fund (BTF) has officially launched a £50 million multi-stage venture capital initiative designed to bolster technology and technology-enabled enterprises across southern Africa. The fund aims for its first closing by the second quarter of 2026 and receives backing from Pula Investments, the family office of Hargreaves Lansdown founder Stephen Lansdown CBE. Launch Africa Ventures is tasked with managing the fund.
Accelerator Program for Pre-Seed Companies
BTF employs a dual-strategy approach to cater to founders at various stages of their business journeys. Its accelerator program specifically targets pre-seed companies operating in southern Africa, offering between £25,000 and £100,000 in capital for each cohort. This program encompasses structured support, market access, and practical operational guidance to help these startups develop.
Growth Funding for Established Companies
The fund’s growth strategy focuses on revenue-generating businesses from Seed to Series C that are based in or expanding to southern Africa. BTF is prepared to invest between £500,000 and £2 million in both primary and secondary opportunities, enabling these companies to access crucial growth funding alongside the expansive network provided by Launch Africa Ventures.
Digital Opportunities in Southern Africa
According to Martin Davis, Managing Partner of Botswana Tech Fund, southern Africa stands on the brink of a digital revolution. “Digital infrastructure has matured, but scalable application layer solutions remain significantly underserved,” he notes. He emphasizes the unique opportunity to support pioneering founders aiming to shape the future of the digital economy amidst increasing competition and rising valuations.
Botswana: A Strategic Hub for Tech Investment
Botswana serves as both the operational and strategic base for BTF. The country ranks among the top five in Africa on the Ibrahim Africa Governance Index and boasts the highest internet penetration rate in sub-Saharan Africa at 80%. As the home of the SADC Secretariat, Botswana also provides an advantageous platform for expansion throughout the region. In collaboration with the Botswana Innovation Hub (BIH), BTF gains access to unique deal flows, operational resources, and a connection to the burgeoning Botswana trade and venture ecosystem.
Leadership with Proven Track Records
The fund is spearheaded by Martin Davis, previously the CEO of FTSE 250 company Molten Ventures, where he successfully grew a portfolio with a net asset value of £2 billion. His track record includes backing notable companies such as Revolut, Trustpilot, Ledger, and UiPath. He is joined by Florence Vabanandan, General Partner and Head of Platform and Operations at Launch Africa Ventures, who has overseen the infrastructure for over 160 portfolio companies and contributed to generating $3 billion in market capitalization across two funds.
Community Commitment through Conservation
BTF also demonstrates its commitment to social responsibility by donating a portion of its investment proceeds to the Thuli Conservation Trust, a Botswana-based non-profit focused on anti-poaching efforts and community development in the Northern Thuli Game Reserve. This initiative highlights the fund’s dedication to creating a long-term positive impact on the region.
