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Since 2021, Uncovered Fund has backed 11 African startups across 14 disclosed funding rounds totaling $89.3M, most heavily in Nigeria and Fintech.
Uncovered Fund is a venture capital firm focused on early and growth stage startups in emerging markets, with a particular emphasis on Africa. The firm is headquartered in Tokyo, Japan, and backs entrepreneurs building new industrial and social infrastructure in underserved regions. In Africa, Uncovered Fund typically invests at the Seed and Series A stages, with capacity to follow on through Series A plus. Its portfolio and activity data show a strong focus on Nigeria, alongside investments in Egypt, Kenya, Morocco, and Togo. The firm has backed companies such as Chari in Morocco, Sylndr in Egypt, Termii, Thepeer, CredPal, Rank, Treepz, and RxAll in Nigeria, ImaliPay and Sky.Garden in Kenya, and Gozem in Togo. These investments span fintech, e commerce and retail, travel and mobility, developer tools and cloud infrastructure, insurtech, and health tech. Uncovered Fund also partners with other investors to support portfolio companies, co investing with firms such as MyAsiaVC, Plug and Play, Jedar Capital, Raed Ventures, Algebra Ventures, and several Africa focused funds. Its activity reflects a thesis driven approach to backing technology that improves everyday life, expands access to financial and digital services, and strengthens the foundations of fast growing African markets.
Data updated · Sep 10, 2026
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Uncovered Fund has backed 11 African startups across 14 disclosed funding rounds tracked on Liners, totaling $89.3M since 2021.
Mostly Seed: 7 of its 14 tracked rounds are at that stage, followed by Series A (4).
Companies Uncovered Fund has backed operate in Nigeria (9), Kenya (4), Côte d'Ivoire (3), and 16 more markets. Each figure counts the rounds behind companies serving that market, so a company operating in several markets counts in each of them.
Its tracked rounds lean toward Fintech (5), E-commerce & Retail (3), Travel & Mobility (3), and 3 more sectors.
Uncovered Fund most often shares rounds with MyAsiaVC (3 shared deals), Plug and Play (3 shared deals), Jedar Capital (3 shared deals).
Uncovered Fund is a Tokyo headquartered venture capital firm that focuses on early and growth stage startups in emerging markets, with a particular emphasis on Africa. It backs founders building industrial and social infrastructure and typically invests from Seed through Series A plus rounds.
Uncovered Fund often co invests alongside other venture capital firms and strategic investors. Recorded co investors include MyAsiaVC, Plug and Play, Jedar Capital, Raed Ventures, Algebra Ventures, Development Partners International, Nuwa Capital, Camel Ventures, Rally Cap VC, GreenHouse Capital, and several others.