Botswana Tech Fund 1 Reaches $6.7M First Close

In Short

• Botswana Tech Fund 1 has reached a $6.7 million first close.
• The fund plans to back tech companies driving digital growth across Southern Africa.
• It will focus on tools for micro, small, and medium-sized enterprises (MSMEs).

What Happened

Botswana Tech Fund 1 has secured a $6.7 million first close and is preparing to invest in technology companies supporting digital growth across Southern Africa. A “first close” is when a fund reaches an initial amount of committed capital and can start making investments.

The fund is structured as a multi-stage venture capital vehicle, meaning it plans to invest at different company stages. It will run an accelerator-led pre-seed programme, which is a structured support track that helps very early startups build products, find customers, and get ready to raise capital.

Beyond pre-seed, the fund also plans to make primary and secondary investments in growth-stage companies. Primary investments are direct investments into a company to fund operations and growth. Secondary investments are purchases of existing shares from earlier investors or founders, which provides liquidity without putting new money into the company.

Launch Africa Ventures has been appointed as investment adviser for the fund’s first phase. The mandate fits into Launch Africa Ventures’ approach of managing specialised investment accounts for third-party investors.

Botswana Tech Fund is anchored by Pula Investments, a Guernsey-based family office linked to Stephen Lansdown, co-founder of Hargreaves Lansdown. The fund’s leadership includes Managing Partner Martin Davis, formerly CEO of Molten Ventures, and General Partner Florence Bavanandan, who also leads platform and operations at Launch Africa Ventures.

Why It Matters

Southern Africa has strong technical talent, but smaller markets often attract less venture capital than larger hubs like South Africa, Nigeria, and Kenya. A fund focused on MSME software and digital services could help close that gap by backing companies that digitise everyday business operations.

The fund’s mix of an accelerator pipeline plus growth-stage investing may also improve continuity, since it can support startups from early validation through scale. If executed well, it could increase the number of investable Southern African tech companies and bring more follow-on capital into the region.