Yesterday, Techstars Toronto announced that it has made its 100th investment after six years of its existence. Interestingly, Africa accounts for 40% of the accelerator’s investment portfolio.
“Africa in general and Nigeria in particular as a key market we [Techstars] wanted to be in,” Techstars CEO Maëlle Gavet said last year during a trip to Lagos. According to Sunil Sharma, managing director of Techstars Toronto, “What has happened is that the overall performance of Techstars has been very good, in part because of the [previous] African companies.”
“So to answer the question of why we are doubling down on Africa, we are actually more than quadrupling down and it is because we see the future,” Sunil added.
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Last updated: December 26, 2024
