Seedstars has announced that it would launch a $100-million fund to invest in African startups in collaboration with New York based First Growth Ventures.
This announcement was made by Seedstars World chief financial officer Charlie Graham-Brown at the Seedstars Summit which is being held today at the SwissTech Convention Centre in Lausanne, Switzerland.
According to him, “The strategy that we’re developing now and have started working on, is to have a fund per region of around $100-million to be able to do deals in Series-A and Series-B.”
Though the organisation did not reveal any further details about the fund, this will be the of such regional fund
Seedstars CEO and co-founder Alisée de Tonnac told Ventureburn yesterday that since the organisation’s inception in 2013, Seedstars has invested in ticket sizes of between $50 000 and $500 000 in 40 companies so far.
De Tonnac said to ensure there’s sufficient talent for the startups it builds in Nigeria, Seedstars runs an academy programme to train potential employees who can be placed in its portfolio companies.
This year, 17 African startups will be among the 67 startups from Eastern Europe, Latin America, Asia, Africa and the Middle East competing to be the next Seedstars Global winner.
The winner will emerge at the sixth edition of the annual Seedstars Summitcurrently taking place in Lausanne, Switzerland. Organised by Seedstars World, the summit is the largest competition for early-stage startups from emerging markets.
