The gap between Africa’s established tech hubs—such as South Africa, Nigeria, and Kenya—and the emerging markets of Southern Africa is getting a major capital boost.
Botswana Tech Fund (BTF) has officially announced the first close of Botswana Tech Fund 1 at $6.7 million. Operating as a multi-stage venture capital firm, BTF is designed to accelerate digital transformation across Southern Africa by targeting the foundational layers of the region’s modern economy.
Backed by Heavyweight Investors and Ecosystem Builders
The fund brings together prominent institutional backers, family offices, and seasoned venture capital operators:
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Anchor Investor: Pula Investments, the family office of Hargreaves Lansdown founder Stephen Lansdown.
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Powered By: Launch Africa Ventures, the pan-African VC firm that has screened over 8,000 deals and backed more than 300 founders across 25 African nations.
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Key Co-Investors: HFL (Guernsey), Thema Capital, alongside active ecosystem builders Zachariah George and Janade Du Plessis.
Geographic Scope and Investment Philosophy
BTF focuses explicitly on the full stack of digitisation—ranging from core payment rails and financial infrastructure to logistics, supply chain tech, InsuranceTech, and B2B operational software.
The fund’s geographic mandate covers Southern Africa’s frontier markets, specifically targeting:
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Botswana
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Namibia
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Zambia
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Zimbabwe
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Mozambique
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Angola
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Malawi
To drive maximum impact across these markets, BTF backs four distinct company profiles:
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Local startups founded and operating within these frontier nations.
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South African companies expanding their operational footprint into the surrounding region.
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Diaspora founders returning to Southern Africa to build high-growth tech ventures.
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Pan-African startups scaling their existing solutions into Southern Africa’s frontier markets.
Dual-Track Capital Allocation Strategy
To support startups throughout their lifecycle, BTF operates a dual investment mechanism covering both early validation and growth-stage scaling:
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The Accelerator Programme: Designed for Pre-Seed companies based in Southern Africa. It provides $33,000 to $134,000 (£25,000 to £100,000) in equity capital per cohort company, paired with structured mentorship, operational guidance, and commercial market access.
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The Growth Strategy: Directs capital into revenue-generating startups from Seed through Series C. The fund deploys $670,000 to $2.7 million (£500,000 to £2 million) per deal, participating in both primary capital rounds and secondary liquidity transactions.
Proven Leadership at the Helm
The fund is guided by experienced venture operators with a track record of scaling technology portfolios globally and across Africa:
Martin Davis (Managing Partner): Former CEO of FTSE 250-listed Molten Ventures, where he scaled the firm’s portfolio net asset value to £2 billion and backed global category leaders including Revolut, Trustpilot, Ledger, and UiPath.
Florence Bavanandan (General Partner): Head of Platform and Operations at Launch Africa Ventures, where she oversees portfolio infrastructure across 160+ startups that have collectively generated over $3 billion in market capitalization.
Strategic Partnerships and Social Impact
Beyond financial returns, BTF embeds strong local ecosystem links and environmental conservation into its corporate strategy:
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Botswana Innovation Hub: A strategic operational partnership providing BTF with a physical base, direct pipeline to deal flow, and integration into national trade networks.
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Tuli Conservation Trust: Demonstrating a commitment to sustainable development, BTF allocates a dedicated portion of its investment returns to fund anti-poaching operations and community empowerment initiatives within the Northern Tuli Game Reserve.
