How to apply to Uncovered Fund as an African founder

TL;DR

Uncovered Fund invests in sector-agnostic companies at Pre-Seed, Seed, and Series A, writes cheques of $100K -- $500K initial; $1M -- $2M follow-on, and takes applications through direct outreach to the team.

Who Uncovered Fund is

Uncovered Fund is a Pan-African investor headquartered in Tokyo, Japan. The fund describes its mandate as sector-agnostic. The thesis, in the fund's own words: Investing in early-stage tech startups across Africa and providing long-term growth support alongside connections to Japanese corporate partners.

On the ground, Uncovered Fund operates as a Pre-Seed, Seed, and Series A investor with an Africa focus described as "Pan-African (29 startups across 17 countries)". The fund's founder, ceo & general partner is Takuma Terakubo.

What they invest in

Stages: Pre-Seed, Seed, and Series A
Sectors: Sector-agnostic. The fund calls itself sector-agnostic, but its actual portfolio tells a more concentrated story: 46% of classified portfolio companies are in Fintech, and 18% are in Logistics.
Cheque size: $100K -- $500K initial; $1M -- $2M follow-on
Geography focus: Pan-African / Yes -- Pan-African (29 startups across 17 countries)

How to apply

Uncovered Fund's application path is: "Via website or warm intros through the portfolio network". This reads as direct outreach rather than a public form, which means the fund is more reachable through a warm introduction or a well-targeted cold message than through a portal. Takuma Terakubo (Founder, CEO & General Partner) is the name most associated with the fund publicly, and a specific, well-prepared message referencing why you fit their stated thesis is a better opener than a generic pitch blast. Check https://uncoveredfund.com/ first in case a form or dedicated email address has since gone live.

Portfolio pattern

Uncovered Fund's portfolio, as listed in their Trampoline fund page, includes:

Piggyvest (Nigeria): Digital savings and investment platform
Lemfi (Pan-African): Cross-border payments
Gozem (Togo/Francophone Africa): Mobility and delivery super app
Autochek (Pan-African): Automotive marketplace and financing
Termii (Nigeria): Customer engagement and messaging API

That spread gives you a sense of what a real check from Uncovered Fund has funded, not just what the thesis claims it funds.

Before you apply

Have these ready before you reach out:

Deck: Check your readiness first so you know where the gaps are
Metrics dashboard: Set up your metrics dashboard so you can show real traction, not slides
Cap table
A one-line description of what your company does
A short, specific note explaining why you fit their stated thesis, ready to send cold or through a warm intro

FAQ

Does Uncovered Fund have a sector focus?

Uncovered Fund describes its mandate as sector-agnostic, meaning it does not restrict itself to a fixed list of sectors.

What stage does Uncovered Fund typically write cheques at?

Uncovered Fund invests at Pre-Seed, Seed, and Series A, with cheque sizes of $100K -- $500K initial; $1M -- $2M follow-on.

Do you need a warm intro to apply to Uncovered Fund?

Uncovered Fund's application path is direct outreach rather than a public form, so a warm introduction generally carries more weight than a cold message, though it is not stated as a hard requirement.

Does Uncovered Fund invest outside Pan-African?

Uncovered Fund's Africa focus is described as "Pan-African (29 startups across 17 countries)". Check the full fund profile for the exact geographic boundaries before you apply.

Is Uncovered Fund a remote or in-person fund?

Uncovered Fund's format is listed as Remote / Hybrid.