Ingressive Capital just launched its venture fund and investing in Africa. The fund is interested in cutting $50-100,000 checks to pre-seed and seed stage founders building tech-enabled African tech startups.
The group functions as a “feeder fund,” and over 80% of those backing their fund run top international VCs, incubators, and accelerators which provide access to late-stage funding; plus a network for the incoming portfolio companies.
“Fundraising is difficult,” said Maya Horgan Famodu of Ingressive Capital. “We want to help the best and the brightest founders across Africa, stay focused and keep building. We’re looking for great ideas built by solid teams. No matter where you are in Sub-Saharan Africa, apply.”
“We are looking for grinders,” added Yacob Berhane from Ingressive Capital. “People who have an inclination to dream big and have real plans to actually get there.”
Here is how you qualify:
You have launched your startup / have initial traction (i.e. money, users, etc.).
You have a clear business model.
You are a high growth technology business targeting a scalable market.
You and your team are bright, hungry, and know your market better than anyone else.
You are an early-stage startup.
Ingressive Capital is sector agnostic. This means you can have a company in Fintech, manufacturing tech, ISP, logistics, O&G tech, or health-tech as long as you’re focused on a scalable market.
In addition to being one of the few active seed stage VCs in the region, Ingressive Capital leverages their global network to assist with growth and scale. They connect startups with new major clients, new investors, talent, and provide financial support. The venture company’s network of limited partners includes folks from Y Combinator, Techstars, WTI, and over 10 other top funds and accelerators. These companies will help the investible companies get follow-on from abroad.
The Fund’s past investments include Paystack and Tizeti, who recently raised significant Series A investments, as well as AwaBike and more.