Finance

US rapper Nas backs $20mln investment in video game startup carry1st

US rapper Nas backs $20mln investment in video game startup carry1st
Thursday, 20 January 2022 18:14

Eight months after it raised $6 million, Africa-focused interactive games and content publisher Carry1st has secured additional investment to support its expansion across the continent.

South Africa and New York-based mobile games publisher Carry1st has raised $20 million in a deal led by U.S. VC Andreessen Horowitz (a16z), US rapper Nas (pictured), the founders of Nigerian payment company Chipper Cash, Google, Avenir Growth Capital, and several former investors also participated in the operation.

“We are delighted to be making our first investment in an Africa-headquartered company in Carry1st, a next-generation mobile games and fintech platform. We see immense opportunity for the company to mirror outstanding successes we’ve seen in markets like India, China, and Southeast Asia,” said David Haber, partner at Andreessen Horowitz.

Last May, Carry1st raised $6mln in a Series A round. The startup, which currently has a team of 37 people in 18 countries, plans to use the additional funding to expand its game publishing business across Africa. It also plans to expand its portfolio of interactive content, strengthen its engineering team, and boost revenues by attracting new users through co-development contracts with game studios.

Carry1st estimates that by 2027 Africa will have twice as many video game players as North America currently has. The company believes the continent will be the next big growth market for games worldwide. In a 2021 report with Newzoo, Carry1st said video game revenues are expected to grow by 728% over the next decade.

Chamberline Moko

On the same topic
I.M.F. completes two reviews, unlocking about $2.3 billion for Egypt Inflation has fallen sharply, and currency pressures have eased The...
Fiscal deficit cut to 3.1% of GDP Debt revised to 60.5% of GDP end-2024 The International Monetary Fund said on Tuesday, Feb. 24, it had...
Liquid repays ZAR loan and $220 million facility Secures $410 million new credit, $195 million equity Plans $300 million bond...
IMF mission begins in Gabon to review finances Public debt reached 72.5% of GDP in 2024 Talks may lead to new IMF-supported programme An...
Most Read
01

ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...

ECOWAS Eco Currency May Launch Without WAEMU in 2027 Push
02

Algeria plans to launch construction of the $13 billion Trans-Saharan Gas Pipeline (TSGP) a...

Algeria–Morocco: Will the Gas Pipeline Duel Take Place? (Editorial)
03

West African Development Bank (BOAD) launched preparation of its 2026–2030 strategic plan wit...

BOAD Launches 2026–2030 Strategy With Boston Consulting Group Support
04

Kenya raised $2.25B via dual-tranche Eurobonds to buy back 2028/2032 debt, luring investors w...

Africa’s Comeback on International Market: Kenya Adds-up to The 2026 Wave of Sovereign Issuances
05

Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annu...

Guinea's Largest Gold Mine Records 6% Output Rise in 2025
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.