Close Menu
Innovation Village | Technology, Product Reviews, Business
    Facebook X (Twitter) Instagram
    Thursday, September 4
    • About us
      • Authors
    • Contact us
    • Privacy policy
    • Terms of use
    • Advertise
    • Newsletter
    • Post a Job
    • Partners
    Facebook X (Twitter) LinkedIn YouTube WhatsApp
    Innovation Village | Technology, Product Reviews, Business
    • Home
    • Innovation
      • Products
      • Technology
      • Internet of Things
    • Business
      • Agritech
      • Fintech
      • Healthtech
      • Investments
        • Cryptocurrency
      • People
      • Startups
      • Women In Tech
    • Media
      • Entertainment
      • Gaming
    • Reviews
      • Gadgets
      • Apps
      • How To
    • Giveaways
    • Jobs
    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Agritech»Black Ostrich Ventures Launches $20 Million Fund to Empower African Startups in Emerging Sectors

    Black Ostrich Ventures Launches $20 Million Fund to Empower African Startups in Emerging Sectors

    0
    By Smart Megwai on August 30, 2023 Agritech, EdTech, Funding, Investments, Venture Capital

    Black Ostrich Ventures, a US-based firm, has recently secured a $20 million fund aimed at supporting African startups in the cleantech, supply chain, agritech, and edtech sectors. The fund will focus on pre-seed and seed stage investments, specifically targeting startups in African countries with lower revenue opportunities, such as Tanzania, Zambia, Morocco, and Uganda.

    This approach deviates from the norm of concentrating on the dominant markets of Nigeria, Kenya, Egypt, and South Africa. These “Big Four” markets accounted for a substantial 92.13% of the total investment raised in Africa during the initial half of 2023, as indicated by an analysis by BD Funding Tracker.

    This is a strategic move by the newly created firm. Ajani Windsor-Areago, the General Partner of Black Ostrich Ventures, explained the decision’s rationale to TechCabal. He noted that they believe there’s untapped potential in terms of exits and deal activities in these countries.

    Windsor-Areago pointed out that the common focus on the “Big Four” countries—Nigeria, South Africa, Egypt, and Kenya—when it comes to capital inflows into venture capital in Africa doesn’t necessarily align with where most exits actually occur.

    Briter Bridges’ data supports this perspective by revealing that countries like Tanzania and Zambia, which receive significantly less funding compared to the “Big 4,” still offer viable opportunities for successful exits.

    Black Ostrich Ventures aims to focus its investments on businesses and countries with promising opportunities for profitable exits. The company intends to capitalize on Windsor-Areago’s extensive experience in the venture capital industry.

    Windsor-Areago, who previously held the position of Head of North America at Lagos-based Platform Capital and more recently served as a Venture Partner at Expert Dojo, a US-based early-stage fund, brings valuable expertise to the firm. Currently, he holds advisory roles in eight startups globally, including Cpayant in the UK, ESGentle in San Francisco, Hytribe in Uganda, and Wayli in Morocco.

    In addition to providing initial funding, Black Ostrich Ventures plans to offer follow-on investments of up to $1 million for companies that progress to the Series A stage. The company’s support for African startups goes beyond financial backing.

    Windsor-Areago envisions a unique approach to working with founders. He emphasises the firm’s intention to provide comprehensive assistance by connecting founders with growth and marketing experts. This strategic support acknowledges that while initiating a business is essential, comprehending the marketing facet of the business holds equal significance, as stated by Windsor-Areago.

    Related

    Share. Facebook Twitter Pinterest LinkedIn Email
    Smart Megwai
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    Smart is a Tech Writer. His passion for educating people is what drives him to provide practical tech solutions which helps solve everyday tech-related issues.

    Related Posts

    SA edtech startup The Invigilator secures $11 million to accelerate global AI expansion

    Angela Muraguri appointed Associate Director at KawiSafi Ventures

    FMO invests in sustainable food systems with $35M stake in AGRI3 Fund

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Copyright ©, 2013-2024 Innovation-Village.com. All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.