Botswana Tech Fund Reaches $6.7 Million First Close to Back Southern Africa's Technology Startups

Botswana Tech Fund 1 has completed a $6.7 million first close to back technology startups across Southern Africa, the fund announced on July 22, 2026. The multi-stage vehicle — targeting a $67 million final size — has appointed Launch Africa Ventures as investment advisor for its first phase and is anchored by Pula Investments, the Guernsey-based family office of Stephen Lansdown, co-founder of UK investment platform Hargreaves Lansdown.

"Now the work begins. There is a significant opportunity to help close the digital gap between our target markets and more established technology ecosystems such as South Africa, Nigeria and Kenya. We look forward to backing ambitious founders who are building solutions capable of driving that change," the fund said in its statement announcing the first close.

The fund is led by Managing Partner Martin Davis, the former CEO of FTSE 250-listed Molten Ventures, alongside General Partner Florence Bavanandan, who serves as Head of Platform and Operations at Launch Africa Ventures. Botswana Tech Fund combines an accelerator-led pre-seed investment strategy with a growth capital programme that includes both primary and secondary investments. Its stated focus is on technology businesses developing digital solutions for micro, small and medium-sized enterprises (MSMEs) across Southern Africa.

Structure and strategic aims

• Investment vehicle: multi-stage fund with accelerator-led pre-seed and growth capital arms.
• Target size: $67 million final fundraise; first close: $6.7 million.
• Anchor investor: Pula Investments, the family office of Stephen Lansdown.
• Advisory partner: Launch Africa Ventures appointed as investment advisor for phase one.
• Leadership: Managing Partner Martin Davis; General Partner Florence Bavanandan.

By combining early-stage accelerator programming with follow-on growth capital — including the ability to buy secondary stakes — the fund is structured to support founders from pre-seed through scaling phases. The strategy explicitly targets MSMEs, a segment identified as central to Southern Africa’s economies but which faces limited access to digital tools and institutional venture capital.

Launch Africa Ventures’ appointment expands the pan-African firm’s remit from deploying its own capital to managing third-party mandates. Launch Africa has already established one of the continent’s most active early-stage portfolios, and the new advisory role positions it to shape a deployment strategy focused on undercapitalised markets within Southern Africa.

Context and regional significance

The first close arrives amid growing concern that venture capital on the continent is concentrated in a handful of markets — notably South Africa, Nigeria and Kenya. Botswana Tech Fund’s backers frame the vehicle as a mechanism to widen institutional capital flows into neighbouring markets that have seen rising digital adoption and entrepreneurial activity but comparatively little institutional investment.

Anchoring by Pula Investments, a Guernsey-based family office linked to Stephen Lansdown, signals private investor appetite for regionally focused tech strategies. Leadership with experience at Molten Ventures and Launch Africa is intended to combine international venture-building experience with local market know-how.

Outlook

With $6.7 million committed at first close and a $67 million target, the fund aims to deploy capital across pre-seed accelerator cohorts and later-stage growth rounds, including secondary transactions. If it achieves scale, the vehicle could help close funding gaps that have limited startup growth across Southern Africa by providing consecutive funding stages and liquidity options for founders and early investors.

Investor interest in this initial close will be watched as a barometer for appetite in underfunded Southern African markets. The fund’s capacity to attract additional institutional and family office commitments will determine whether it can broaden investor participation beyond the region’s established venture hubs and deliver sustained capital to MSME-focused technology businesses.