Grindstone Ventures has officially launched a R500 million ($31 million) fund aimed at solving Africa’s Series A funding bottleneck. Led by Managing Partner Thandiwe Maqetuka, the South Africa-based venture firm is targeting what ecosystem insiders call the "missing middle"—the gap where post-revenue startups struggle to transition from early seed stages to major growth rounds. Recent market data shows that out of 105 African startups that raised seed rounds in 2022, only 10 made it to Series A within 34 months. Grindstone plans to invest in 15 to 20 companies, providing structured follow-on capital, governance support, and strategic scaling alongside partners Knife Capital and Thinkroom. For African founders, dedicated bridge-to-series-A capital means fewer promising startups stalling out after initial market validation. Keep an eye on the fund’s first close and its initial portfolio announcements in the coming months. Source: AllAfrica / Daba Finance #VentureCapital #SouthAfricaTech...