Microtraction hits $15M first close on its second fund for pre-seed investment in African startups

Microtraction, an early-stage venture capital firm that invests in African startups at the pre-seed stage, is announcing that it has reached the first close of its second fund, Microtraction Community Limited. The fund doesn’t have a set target at the moment, the founding partners told TechCrunch, but it achieved the first close at $15 million. 
Microtraction Community Limited seeks to write first checks of $100,000 for 7% into early-stage African startups with an option for a “quick top-up” of up to $350,000, “as long as they are not more than 25% of the company’s next official fundraising ro

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