OpenseedVC, a newly established fund led by experienced operators, has made its debut with the aim of becoming the premier early-stage investor for seasoned professionals venturing into the tech industry within Africa and Europe. The fund has proudly announced the initial closure of its $10 million fund, designed to function similarly to an angel investment for early-stage companies.
The financial backing for OpenseedVC comes from a diverse group of Limited Partners (LPs), including founders, seasoned operators, and High Net-Worth Individuals (HNIs) from Africa, Europe, and the United States. The fund is committed to providing up to $150,000 in initial investment, known as “starter cheques,” to tech startups. In addition to financial support, OpenseedVC extends the benefit of its extensive network, comprising over 50 experts with a wealth of experience, to assist new operators in the tech sector.
OpenseedVC’s investment focus is on sectors that are shaping the future, such as commerce, B2B software, artificial intelligence (AI), fintech, healthcare, and the evolving nature of work. The fund’s strategic objective is to ensure that the impact of its investment portfolio is in harmony with the United Nations Sustainable Development Goals (SDGs). OpenseedVC has already begun building its portfolio with two initial investments: one in a UK-based AI-powered software for resolving supplier disputes, and another in a pioneering speech-to-text transcription model tailored for underrepresented accents, beginning with those from Africa.
Maria Rotilu, the General Partner at OpenseedVC, shared insights from her dual experience as an operator and investor. She highlighted the exceptional talent and expertise found among operators and acknowledged the obstacles they face when launching startups. Rotilu emphasized that operators possess deep domain knowledge and a clear vision of significant problems that can be addressed through innovative technology.
She noted that these visionaries, who are also capable of execution, scaling, team-building, and demonstrating the resilience needed to tackle complex issues, are particularly well-suited to establishing tech startups that address real-world problems and generate scalable value for the global economy and the fund’s investors. Rotilu pointed out that the combination of business acumen from seasoned operators and the energy and drive of founders is the focal point for OpenseedVC.
Rotilu also acknowledged the current challenges in securing funding for early-stage founders, which are exacerbated by the tough fundraising environment. However, she expressed confidence that exceptional companies often emerge during the most challenging economic times. With this belief, OpenseedVC is eager to be the first to place their trust in these experienced operators, providing them with the necessary capital and a comprehensive network of operators to support them from the inception to the launch of their tech ventures.
Applications are currently open, and interested startups can learn more and apply by visiting the OpenseedVC website.
