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Impact Africa Launches A 25million Venture Capital Fund For African Entrepreneurs

Startups

Oct. 15, 2021, 11:21 a.m.

Africa has become a hotspot for venture capital as Y Combinator has flooded the region with capital and Google announced plans to invest in the region. Africa trails US venture funding by a wide margin.

Given this, a non-profit startup studio, Impact Africa Network, is creating From Here Ventures, a $25 million venture capital fund that will invest in African firms. The VC seeks to invest in extraordinary entrepreneurs that are building revolutionary businesses in Africa.

According to Mark Karake, CEO of Impact Africa Network, “valuations in the region are hot, but From Here can differentiate itself because of its expertise in local companies and networks. The best African entrepreneurs will prioritize investors with a deep, intrinsic understanding of how things work in Africa, local networks, operator experience, along with the tangible value-added capabilities on their platforms. More than money will mean something.”

From Here is focused on these thematic areas:

  1. Infrastructure startups aimed at scaling specific industry pain points.
  2. Mission-driven companies focused on human wellbeing.
  3. Women-led startups and companies that
  4. prioritize women in leadership roles.

Launched in 2019, Impact Africa Network has graduated startups as well as Jenga School, which cultivates local data science and engineering talent. Those efforts have developed a network that Karake hopes will differentiate From Here from funds based offshore.

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Verny Joy Author

Verny loves to write poetry, fiction and quotes. Her love for writing landed her in journalism. She loves gadgets and travelling to explore new places.

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