Global tech talent platform Andela attained a $1.5 billion valuation this September and is currently the only non-fintech unicorn from Africa. Foreign capital propelled Andela to this status, however, Africa-focused venture capital firms such as CRE Ventures and TLcom Capital have been critical to the company’s early success.
Three years after investing in Andela, the latter raised a $71 million fund to invest in other African startups and has done so impressively, leading most of the rounds in which it takes part. Yet, Andela remains its poster child and the firm takes pride in having made the investment years back.
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