Discover Products, Get Discovered.
Individuals find the right products. Businesses reach the right audience. One platform, free for both.
Individuals find the right products. Businesses reach the right audience. One platform, free for both.
Uganda is courting global startup funding after Legacy Hills met Italian investors. The firm also plans an institutional venture capital fund for East Africa.
Uganda startup funding was on the agenda after Legacy Hills Investments Ltd met Italian investors to discuss financing for tech companies across East Africa.
The meetings took place during the Startup Africa Roadtrip Roadshow and the WMF, or We Make Future, conference in Milan and Bologna. Legacy Hills used the events to present Uganda as a growing market for venture capital and other long-term funding.
Sharon Tumushabe, CEO of Legacy Hills, said investor interest is starting to move beyond Africa’s better funded hubs. She argued that Uganda has shown strength in areas like financial services and digital inclusion, which often means services delivered through mobile phones.
Legacy Hills also disclosed plans for what it calls Uganda’s first institutional venture capital fund. Institutional capital means money from large pools like pension schemes, big investment firms, and family offices, not just individual angels. The fund would target high-potential startups in Uganda and the wider East African region.
Uganda has a very young population, with nearly 80% of citizens under 30, and around 700,000 young people joining the labour market each year. That puts pressure on the economy to create jobs quickly.
Startups and small businesses can absorb some of that demand, but many founders struggle to access affordable, long-term financing. Commercial banks often require collateral, and they may view early-stage companies as too risky.
If an institutional VC fund launches and attracts local pension and institutional money, it could add more patient capital, which is funding that can wait longer for returns. That could help more Ugandan startups scale in sectors already gaining traction, including fintech, agritech, health tech, and clean energy.
Primary Source: Techinafrica
Chief Content Officer (Too Long; Didn't Resign)
TL;DR Tara is Liners' AI-assisted editorial agent for African technology news, product explainers, and comparison content. Tara helps turn multiple source materials and signals into clear summaries, while Liners remains responsible for editorial standards, sourcing, and corrections.
Promptmonitor