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OpenseedVC Launches $10 million Fund for African Tech Startups

Maria Rotilu, founder and general partner of Openseed.

Venture capital and private equity firm, Openseed has launched a $10 million fund to invest in African operators who aspire to launch their tech companies. Aiming to invest in at least 60 startups over the next 5 years, the fund is open to domain experts and successful second-time founders.

The fund, which offers up to $150,000 starter cheques, along with access to a network of over 50 seasoned experts with experience across its investment sectors, will provide a new alternative for African startups looking to raise funds. The venture fund will also invest mainly in B2B software, AI, Fintech, digital health, and the future of work to align with the UN Sustainable Development goals.

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According to Maria Rotilu, founder and General Partner of Openseed, “As an operator and investor, I have encountered incredibly talented and experienced operators, and the challenges faced as they try to launch their startups. Operators have the advantage of domain expertise and a unique insight into large problems that can be tackled with innovative technology. Those who are visionaries coupled with the ability to execute, scale, build teams, and have the grit required to solve difficult problems — these skills, especially in the current market, are highly relevant to building technology start-ups that solve real problems, and creating scalable value for the global economy and our investors.

The experience seasoned operators bring in terms of business building, combined with the dynamism and hustle that founders possess, is the focus for Openseed VC.

The current difficult fundraising climate is especially harsh for early-stage founders, but we believe incredible companies are born in the most difficult macroeconomics. We want to be first believers in these experienced operators to give a great head start, with capital and an extensive operator network that start to launch their technology companies.”

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