Toyota Tsusho has invested an undisclosed sum in Verod-Kepple Africa Ventures (VKAV) to support startups and pursue opportunities for business synergies with Toyota Tsusho Group in Africa. This new investment is aimed at sourcing for startups in the healthcare, consumer goods, carbon neutral and other fields and pursuing business synergies with Toyota Tsusho Group and Mobility 54.
Verod-Kepple Africa Ventures is the first fund launched by Verod-Kepple Africa Partners, a joint venture between Verod Capital Management Limited, a private equity fund with a track record of investing in and supporting the growth of small and medium-size enterprises and startups in Africa, and Kepple Africa Ventures, a venture capital firm that actively invests in African startup.
In 2021, VKAV participated in Moove’s $23 million in Series A funding.
VKAV plans to make investments of $100 million in the five years from 2022 to 2026 in scalable, tech-enabled, post-revenue businesses bringing about transformative change by addressing difficult challenges across various industries on the continent.
In April 2021, Toyota Tsusho also invested in Samurai Africa Fund 2 Investment Partnership, a fund managed by Samurai Incubate Inc., promoting scouting for startups, including those in fields other than mobility.
