African Startups Get Boost as Early-Stage VC Firm Launches $10 Million Fund

OpenSeedVC, an early-stage venture capital firm, has launched with a $10 million fund aimed at supporting African startups. The fund, OpenSeedVC’s first, is geared towards supporting founders on the continent who have domain expertise. The firm focuses on tech-driven ventures with high growth potential, providing them with the necessary capital to scale their operations. OpenSeedVC’s mission is to foster innovation and entrepreneurship across the continent, and also fill the funding gap that African startups face. The fund is expected to catalyze significant developments in various sectors, including fintech, healthcare, and agritech, and contribute to Africa’s economic growth and technological advancement. Toward this end, OpenSeedVC is willing to invest as much as $150,000 in the startups they deem worthy. If things go according to plan, the firm will close its second funding round next May.

SOURCE: TECH CABAL