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Seedstars to launch a $100-million fund to invest in African startups in collaboration with First Growth Ventures

Seedstars recently announces that it would launch a $100-million fund to invest in African startups in collaboration with Paris based First Growth Ventures. The announcement was made on Friday, April 5th, by Seedstars World chief investment officer Charlie Graham-Brow during the six annual Seedstars Summit, which was held at the SwissTech Convention Centre in Lausanne in Switzerland.

Charlie Graham-Brown mentioned in his speech that the strategy they’re currently working on aims to have a fund per region of around $100 million to allow Series A and Series B rounds.

Graham-Brown also told Ventureburn that the aim of the fund is to invest in 30 to 40 companies and to begin investing by the end of this year. They will also reveal more information on the fund including the countries, and what the fund would focus on.

According to Seedstars CEO and Co-Founder Alisée de Tonnac, since the inception of Seedstars in 2013, the organization has invested in ticket sizes of between $50,000 and $500,000 in 40 companies, she told Ventureburn.

Four out of those startups were set up by Seedstars through its venture building team in Nigeria which focuses on the FinTech sector. They’ve also built four more in Ivory Coast that focuses on edtech.

For more information, read here.

Startup MGZN

Startup MGZN