Sony unveils $10M Sony Innovation Fund for Africa
Sony Group announced today that it has established Sony Innovation Fund: Africa as an initiative to support the growth of the entertainment businesses in Africa.
The Sony Innovation Fund: Africa has been established to invest in seed to early-stage start-ups in the entertainment industry in Africa, including start-ups in the gaming, music, movie and content distribution sectors. Sony is initially allocating $10 million towards such investments.
Since 2016, Sony has been participating in the ecosystem of new business creation around the world and has contributed to supporting the business growth of start-up companies through its Sony Innovation Fund (2016), which invests in seed to early-stage companies.
It also created the Innovation Growth Fund in 2019, which was established through a joint venture with Daiwa Capital Holdings Co. (currently Daiwa Investment Management Co.); the Sony Innovation Fund: Environment (2020), which supports companies addressing global environmental issues; and Sony Innovation Fund 3 (2022), the successor to the Innovation Growth Fund. Sony Innovation Fund, Sony Innovation Fund: Environment, and Sony Innovation Fund: Africa are wholly funded by Sony.
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Since its inception, the Sony Innovation Fund has supported the growth of its portfolio companies by providing opportunities for collaboration, ranging from the provision of Sony-owned technologies to joint development and business alliances. With the Sony Innovation Fund: Africa, Sony will continue to make value-added investments, and potential
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