The Sony Group on Wednesday announced the launch of Sony Innovation Fund: Africa (SIF: AF), a programme that will aid the expansion of entertainment companies in Africa.
Tokyo multinational conglomerate Sony Ventures Corporation (SVC) has set aside $10 million for early-stage entrepreneurs in the gaming, music, film, and content distribution industries.
This fund targeted at African entertainment entrepreneurs is Sony Ventures’ most recent effort to support technology enterprises across markets and stages.
From all these funds, the venture arm of the Japanese IT giant has invested in more than 100 consumer and enterprise-facing companies across a range of industries including entertainment, robotics, AI, mobility, fintech, healthcare, logistics, and SaaS.
Sony’s Africa-focused fund will give the region’s entertainment tech firms a much-needed boost since they have long struggled to find reliable venture capital funding.
Every market Sony Ventures has invested in with its funds, including Japan, India, Israel, Europe, and the U.S., has a Sony Ventures office.
