"Seedstars and Fondation Botnar Join Forces to Establish a Fund Supporting African Startups Prioritizing Youth Wellbeing"
chandni
Seedstars Capital and Fondation Botnar have joined forces to establish Seedstars Youth Wellbeing Ventures, a $20 million investment initiative aimed at supporting early-stage startups in Africa. The primary focus of this fund is to enhance the wellbeing of individuals under the age of 30 in low- and middle-income countries.
This perpetual fund will provide financial backing to startups ranging from the pre-seed stage to Series A. It seeks to support ventures that contribute to the advancement of various sectors, including healthcare services, environmental sustainability, and ecological resilience (such as clean energy accessibility). Additionally, it aims to address local food security, water and sanitation, waste management, affordable housing, employment opportunities, and safe and sustainable transportation in Tanzania, Ghana, Senegal, Morocco, and Egypt.
According to TechCrunch, Seedstars has disclosed that the investment mandate will involve an initial capital injection of $250,000, with potential follow-on investments of up to $750,000. Over the next five years, the fund plans to invest in a minimum of seven startups annually.
