In the next few months, agrotech startups in East Africa that are in the so-called “Pioneer Gap” will have the opportunity to raise between $100,000 and $500,000.
Thanks to the launch of the Africa Investment Marketplace bankrolled by Village Capital and Schooner Africa Fund which aims tackle the disconnect between the region’s developing startups searching for capital, and investors looking for deal flow.
The managing director of Schooner Capital, Cynthia Ryan said: “We are providing due diligence, transaction advisory, investor matching and deal syndication services for eight agribusinesses from Kenya, Tanzania, Uganda, and South Sudan, selected from Schooner’s and Village Capital’s portfolios and training programmes.
“By addressing the challenge of robust deal flow and investment readiness, Schooner Africa Fund and Village Capital intend to unlock US$2 million in investments with direct impact on the wealth and livelihoods of smallholder farmers.”
Meanwhile, Ross Baird, the CEO of Village Capital said: “Entrepreneurs across Africa have businesses that are dying on the vine because investors are moving far too slowly-or not at all. And investing is a confusing and difficult experience for folks who want to put money to work in Africa’s thriving agribusiness sector. If we are going to feed the world and mitigate climate change, African agriculture entrepreneurs will lead the way. The African Investment Marketplace will get the right investment capital to the most promising companies, closing the Pioneer Gap for the continent’s best founders”
The startups that will have access to raise money for now include Esoko, FarmDrive, Futurepump, Herdy Limited, Honey Care, iProcure, Ojay Greene, and Wanda Organic, all of which have offices in Nairobi.
