Los-Angeles-based venture capital, Black Ostrich Ventures has launched a $20 million pre-seed and seed stage fund to support African start-ups in the cleantech, supply chain, agritech, and edtech sectors.
The newly created firm will support start-ups with check sizes ranging from $50,000 to $200,000, and the fund will focus on start-ups in Tanzania, Zambia, Morocco, and Uganda. Clearly the usual fund winners like Kenya, Nigeria, South and Ghana are not in here.
Windsor-Areago also says that the support for African startups will go beyond funding. “We will be working with founders in a very unusual way. We’re going to surround founders with growth experts and marketing experts to help them grow their businesses. It’s one thing to be great at starting a company, understanding the marketing aspect of the business is another,” he said.
