South African entrepreneur Alexandria Procter, best known as the founder of student accommodation platform DigsConnect, is spearheading a new initiative to invest R25 million (approximately $1.4 million) into early-stage startups across the African continent. The initiative, named Pharos of Alexandria Ventures, aims to identify and support high-potential founders building impactful solutions for African markets.
Pharos of Alexandria Ventures is now open for applications ahead of a series of exclusive pitch sessions scheduled to take place in Cape Town this November. The fund is being launched in collaboration with a group of unnamed early-stage investors, indicating a syndicate-based investment model that pools capital and expertise to support emerging ventures.
Startups at the pre-seed, seed, or Series A stage are invited to apply. Selected founders will be given 10 minutes to pitch their businesses to the investment panel, with funding decisions based on a clear set of criteria.
A Founder-Led Vision for African Innovation
Procter, who founded DigsConnect while still an undergraduate at the University of Cape Town, brings recent and relevant experience as a tech operator in South Africa’s startup ecosystem. Her new venture reflects a commitment to empowering fellow founders across the continent.
Procter stated:
Africa’s founders are some of the most resourceful and driven people in the world. They’re building solutions that matter, products that solve real problems in their own communities. We want to back that energy and help connect it to global capital.
The fund’s selection criteria will focus on three key pillars:
- Talent: Strong founding teams with deep domain knowledge and execution capability.
- Timing: Ventures that are well-positioned to capitalize on current market dynamics.
- Traction: Evidence of user growth, customer engagement, and product-market fit.
While startups with revenue and traction will be prioritized, the fund is also open to pre-revenue ventures that demonstrate a compelling vision and operational discipline. This includes clean cap tables, clear ownership of intellectual property, and capital-efficient business models.
Startups must also show adaptability to changing market conditions, technological shifts, and regulatory environments. Preference will be given to companies building for African or frontier markets, with a focus on regional scalability rather than global expansion.
Procter noted:
Not every great African company needs to go global. There’s enormous value in businesses that scale across emerging markets and deliver real social impact.
Investment ticket sizes will range from R1 million ($56,000) to R10 million ($560,000), depending on the startup’s stage and demonstrated traction.
The fund will prioritize startups operating in the following sectors:
- Fintech
- Software as a Service (SaaS)
- Climate and Energy Innovation
- Mobility
- Digital Infrastructure
For this round, healthtech and agtech ventures will not be prioritized.
Application Details
Founders interested in pitching must submit their applications via the Pharos of Alexandria Ventures website by the deadline of October 17, 2025. Shortlisted startups will receive invitations to present their pitches in person during the Cape Town sessions in November.
