VC: Flat6Labs launches new $95 million Fund to expand its impact in Africa

 Flat6Labs, MENA’s leading seed capital firm, has announced a new $95 million seed fund. With its Africa Seed Fund (ASF) program, Flat6Labs will be investing in 160 companies that are in Pre-Seed up to Pre-Series A stage, with tickets ranging from US$150,000-US$500,000. ASF will also reinvest into portfolio companies in follow-on rounds.

Since it was founded 12 years ago, Flat6Labs has invested more than $16 million in startups and more than $191 million in follow-on funding. Through its first two funds in the Egyptian and Tunisian markets, it has created more than 2,500 direct jobs and 80,000 indirect jobs.