To launch Seedstars Africa Ventures, Seedstars is partnering with First Growth Ventures. The fund for sub-Saharan Africa is $ 100 million.
It will make minority investments in early-stage. This amount ranges from $ 250,000 to $ 5 million and aims to support the most promising and innovative companies across different sectors and countries. The fund is expected to make its first investments by the end of the year.
At the Seedstars Summit held in Lausanne, Switzerland, the partnership between Seedstars and First Growth Ventures was announced on April 4th. Seedstars offers an unparalleled variety of startup support programs. Present in more than 20 markets in sub-Saharan Africa, the fund will have a strong local presence and resources across Africa.
Contractors will benefit from support from local and international networks, training programs and Seedstars infrastructure, which has enabled 44% of accelerator startups to secure financing. “The challenge of providing high-quality, accelerating support across the continent is one of the main reasons for the lack of funding at this scale. A partnership with Seedstars, which has demonstrated its ability to help businesses when they need it most, will help bridge this gap, “said Tamim El Zein, Partner at First Growth Ventures.
Most investment funds are looking for unicorns and the next African technological success story in some ecosystems. Seedstars Africa Ventures will also look for “gazelles”, high-growth companies already in the commercialization stage and with strong growth potential. This ability to invest and support accelerating companies across the continent is a real innovation in the venture capital industry.
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