Microsoft announces $500M Investment Fund

Microsoft, the world’s largest software company, announced today that over the next five years, it will help 10,000 African startups through a variety of programs, including cooperation with accelerators and incubators across the continent.

The multibillion-dollar firm, which operates in more than 60 countries, has announced its plan to work with venture capitalists to increase access to finance for African entrepreneurs by releasing $500 million in “possible” investment.

According to Microsoft, it has previously cooperated with Banque Misr, Global Venture Capital, and Get Funded Capital.

The Africa Transformation Office (ATO), which was recently founded, will carry out these tasks. Microsoft’s strategic aspirations in Africa are supported by the ATO’s engagement with governmental and private entities.

Microsoft’s global Founders Center, a self-service hub that provides businesses with a choice of services and mentors, will be available to African startups.