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Norsken 22, a venture capital firm, has successfully closed its first African Technology Growth Fund at $205 million, exceeding its initial target of $200 million. This significant achievement highlights the growing interest and confidence in the African tech ecosystem. Lexi Nivetsky, General Partner at Norsken 22, shared insights on the strategies required to support the growth stages of African tech startups in a recent interview on CNBC Africa. The debut fund, backed by partners with decades of experience in African investments, signifies a positive outlook for the continent's technology sector. Despite challenges and negative narratives surrounding Africa, the $205 million fund represents a beacon of hope for African tech. With Africa's young, tech-savvy population and the increasing adoption of digital technologies, the continent presents a promising investment landscape. While the investment in African tech companies has grown significantly in recent years, it still lags behind global levels, accounting for only 1% of venture capital investments worldwide. Nivetsky emphasized the need to bridge this gap by attracting international investor capital and focusing on due diligence to identify high-quality tech ventures with strong growth potential. Norsken 22's fund targets companies at the product-market fit stage looking to scale up aggressively, particularly in sectors like fintech, market enablement, health tech, and edu tech. The firm aims to support top-performing portfolio companies across their lifecycle and contribute to fostering innovation and financial inclusion in Africa. The interview also addressed the challenges and opportunities in African tech ecosystems, such as regulatory frameworks, government support, and the role of emerging technologies like AI and IoT. Nivetsky highlighted the importance of proactive government initiatives, like Nigeria's efforts to promote innovation through regulatory reforms and infrastructure development. Looking ahead, Nivetsky emphasized the transformative potential of AI in solving critical problems in Africa, ranging from customer service enhancements to fraud detection and intelligent pricing models. Companies that embrace AI and emerging technologies are poised to gain a competitive edge and drive market disruption. In conclusion, Norsken 22's successful fund closure reflects a growing appetite for investment in African tech and highlights the continent's immense potential for tech-driven growth and innovation. As Africa's tech ecosystem continues to evolve, strategic partnerships, regulatory support, and technology adoption will play key roles in shaping its future.