Tofino Capital launches a $10 million fund for emerging and frontier markets

Zahid Lilani
Tofino Capital launches a $10 million fund for emerging and frontier markets
Tofino Capital launches a $10 million fund for emerging and frontier markets

U.S.-based venture capital firm Tofino Capital has launched a $10 million fund that will invest in early-stage startups in emerging and frontier markets.

Tell me more: Tofino Capital was founded in 2018 by Eliot Pence and Aubrey Hruby. 

It invests in early-stage startup companies in scalable markets with a low venture capital per capita. These include Bangladesh, Egypt, Nigeria, Pakistan, the Philippines, and Mexico.

Fund Thesis: To invest in early-stage startups in the fintech, fintech-enabled, logistics, and startups digitizing traditional markets.

Check size: $50,000 and $500,000; pre-seed and seed stages.

Value add: Both the founders of Tofino Capital have extensive experience doing public relations. They have worked with more than 100 startups, including SWVL, Flutterwave, and Foodology. 

Before you go: A diverse group of U.S. startups and U.S. family offices are limited partners of the fund, including Wilson Sonsini Goodrich & Rosati, WS Investment Company, and executive sponsors from several U.S. startups.

Big picture: Yes, it’s unclear how many Pakistani startups the fund will invest in, but Pakistan fits the firm’s thesis as a market.

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