Key Takeaways
- • Botswana Tech Fund launches a £50 million ($64 million) multi-stage venture capital fund targeting technology and tech-enabled businesses across Southern Africa, with backing from Pula Investments, the family office of British billionaire Stephen Lansdown (co-founder of Hargreaves Lansdown).
- • The fund operates across pre-seed through Series C stages, with a distinctive secondary investment mandate designed to recycle returns back into the ecosystem to catalyze continued innovation across the region.
- • Launch Africa Ventures appointed as investment advisor, with Florence Bavanandan serving as General Partner alongside Managing Partner Martin Davis, both continuing roles at Launch Africa.
- • Botswana selected as fund base due to governance strength (top 5 in Africa on Ibrahim Governance Index), 80% internet penetration, proximity to SADC Secretariat, and strategic partnership with Botswana Innovation Hub.
- • Fund has already secured $6.7 million at first close and is actively recruiting founders for its initial cohort through an open application process.
Summary
The Botswana Tech Fund (BTF) has officially launched a £50 million venture capital initiative designed to accelerate digital innovation across Southern Africa. The fund represents a partnership anchored by Pula Investments, the family office of Stephen Lansdown, co-founder of Hargreaves Lansdown, with Launch Africa Ventures serving as investment advisor and operational partner.
The fund's structure distinguishes it through a multi-stage investment mandate spanning pre-seed through Series C financing, combined with a secondary investment strategy. This dual approach reflects the longer liquidity timelines characteristic of African technology ventures. The secondary mandate allows the fund to recycle earlier-stage returns back into the ecosystem, creating a continuous funding mechanism for successive waves of innovation. Launch Africa Ventures leads investment operations with Florence Bavanandan as General Partner and Martin Davis as Managing Partner, both maintaining concurrent roles at Launch Africa.
Botswana's selection as the fund's base reflects several strategic advantages. The country ranks in the top 5 on Africa's Ibrahim Governance Index, maintains 80% internet penetration, and serves as home to the SADC Secretariat, positioning it as a regional hub. The fund has established a formal partnership with the Botswana Innovation Hub to provide on-the-ground operational support. The fund has already achieved a $6.7 million first close and has opened applications for its inaugural investment cohort, actively recruiting technology founders across the Southern African region.
The fund's structure distinguishes it through a multi-stage investment mandate spanning pre-seed through Series C financing, combined with a secondary investment strategy. This dual approach reflects the longer liquidity timelines characteristic of African technology ventures. The secondary mandate allows the fund to recycle earlier-stage returns back into the ecosystem, creating a continuous funding mechanism for successive waves of innovation. Launch Africa Ventures leads investment operations with Florence Bavanandan as General Partner and Martin Davis as Managing Partner, both maintaining concurrent roles at Launch Africa.
Botswana's selection as the fund's base reflects several strategic advantages. The country ranks in the top 5 on Africa's Ibrahim Governance Index, maintains 80% internet penetration, and serves as home to the SADC Secretariat, positioning it as a regional hub. The fund has established a formal partnership with the Botswana Innovation Hub to provide on-the-ground operational support. The fund has already achieved a $6.7 million first close and has opened applications for its inaugural investment cohort, actively recruiting technology founders across the Southern African region.
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