Backbone Fund I is a $15 million venture fund investing in Africa’s most promising and disruptive technology companies. The fund is managed by an experienced and accomplished board of investors with a proven track record in venture capital, entrepreneurship, and business growth across the continent.

The fund seeks to deliver superior returns by identifying and backing visionary founders building scalable, tech-enabled solutions that address key challenges and unlock new opportunities in emerging African markets.

Investment Objective
Backbone Fund I aims to achieve a 5x return on invested capital within 3 years, targeting an Internal Rate of Return (IRR) of 30%+ per annum. The fund is designed for investors seeking medium- to long-term exposure to Africa’s rapidly growing technology sector.

Fund Terms

Fund Size: $15M

Fund Life: 10 Years

Investment Period: 3 Years

Companies Targeted: 50 – 80

Minimum Commitment: $50,000

Management Fee: 2%

Carry Fee: 20%