Startups in East Africa have a new source for investment and mentorship.
Sweden’s Norrsken Foundation — a co-working space and investment fund based in Stockholm — opened its tech fund and entrepreneurship hub in Rwanda today to support ventures across the region.
Norrsken’s Kigali center is located on the former École Belge campusand will begin with seed investments of $25,000 to $100,000 for early-stage startups in all sectors starting this year, Norrsken CEO Erik Engellau-Nilsson told TechCrunch.
The fund size is still being determined, and Norrsken Kigali will extend the fund to larger series-stage investments from $100,000 to $1 million in the future.
Norrsken’s Fredrika Wessman is the head of Africa expansion and the organization is in the process of hiring a local director for its new Kigali operation. Continue reading …