Former Apple CEO, John Sculley, launched Obi Ventures yesterday, 17 March 2015; the venture will invest in early-stage African startups in emerging markets.

The venture may target areas such as logistics, ecommerce, fincon, health and edtech sectors.

“We have launched Obi Ventures to invest in early stage startups but we shall be highly selective,” he said.


The event also featured the unveiling of DESPEC, official distributor for his smartphone devices. The range of smartphones are mostly targeted at youths in the evolving markets.

According to the CEO in one of the articles we wrote about couple of weeks back: “The African markets present a huge opportunity for new smartphone devices, with a growing population of technology and fashion-savvy youth. Consumers today want the best feature-rich smartphone experience at desirable price points, without compromising on quality.”

African Startups, hopefully, will benefit from the launch of the venture.

Photo Credit: Web Summit via Compfight cc, techweez

Olumuyiwa Coker Author

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