New $1.4M Fund Targets Early-Stage African Startups Under Pharos of Alexandria Ventures

Pharos of Alexandria Ventures, founded by South African entrepreneur Alexandria Procter, has launched a new R25 million ($1.4 million) fund dedicated to investing in early-stage African startups. The initiative targets companies at the pre-seed, seed, and Series A stages and aims to support founders developing scalable technology-driven solutions across the continent.

Applications for the first investment cycle are open until October 17, 2025, with selected founders scheduled to pitch in Cape Town in November 2025.

Funding Details

According to the fund’s announcement, Pharos of Alexandria Ventures will provide investments ranging between R1 million and R10 million (approximately $56,000 to $560,000) depending on each startup’s stage, growth metrics, and funding needs.

The fund’s focus sectors include fintech, SaaS, digital infrastructure, mobility, and climate or energy innovation. It will not prioritise heavily regulated industries such as healthtech and agtech during its initial investment round.

Startups will be assessed based on three main criteria:

• Talent: experience and capability of the founding team

• Timing: suitability of the market environment

• Traction: early adoption or user growth

Founders must also demonstrate efficient use of capital, maintain clean cap tables, and show ownership of intellectual property.

Structure and Approach

Pharos of Alexandria Ventures will operate through a syndicate-based investment model, pooling resources from several early-stage investors. The goal is to combine funding with access to networks and business guidance for selected startups.

The fund was established to increase capital availability for startups in the earliest stages of development, where access to traditional venture capital remains limited.

Relevance to African Markets

While the fund is open to startups across Africa, its operations and pitch sessions will begin in South Africa. Nigerian and other regional founders are eligible to apply. The fund’s focus areas, fintech, SaaS, and climate-related innovation, align with some of the most active technology sectors in markets like Nigeria, Kenya, and Egypt.

Startups that meet the selection requirements can apply through the Pharos of Alexandria Ventures website before the stated deadline.