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Since 2019, GSR Ventures has backed 2 African startups across 3 disclosed funding rounds totaling $220M, most heavily in Nigeria and Fintech.
GSR Ventures is a global early-stage venture capital firm founded in 2004, managing over $3.7 billion in assets. The firm backs technology companies developing AI-enabled enterprise software, consumer platforms, and healthcare technology, with offices in Beijing, Hong Kong, and Singapore. In Africa, GSR Ventures invested $220 million across three funding rounds from July 2019 to March 2022. The firm focused on Series A and Series B stages, targeting fintech and crypto & Web3 sectors in Nigeria and South Africa. Key investments include Opay in Nigeria, with $50 million Series A in July 2019 and $120 million Series B in November 2019, and VALR in South Africa, with $50 million Series B in March 2022. GSR Ventures co-invested alongside firms such as Source Code Capital, HongShan, IDG Capital, Coinbase Ventures, and Pantera Capital.
Data updated · Jul 29, 2026
GSR Ventures has backed 2 African startups across 3 disclosed funding rounds tracked on Liners, totaling $220M since 2019.
Mostly Series B: 2 of its 3 tracked rounds are at that stage, followed by Series A (1).
GSR Ventures's tracked rounds are concentrated in Nigeria (2), South Africa (1).
Its tracked rounds lean toward Fintech (2), Crypto & Web3 (1).
GSR Ventures most often shares rounds with Source Code Capital (2 shared deals), Dianping (2 shared deals), HongShan (2 shared deals).
GSR Ventures backed Opay in Nigeria with Series A and Series B rounds, and VALR in South Africa with a Series B round. These investments totaled $220 million from 2019 to 2022.
