U.S.-based venture capital firm Tofino Capital has launched a $10 million fund to 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 over 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.
