Announcement: Top 10 entrepreneurs selected for VC4Africa’s September Cohort
Africa’s venture capital community VC4Africa announced its new cohort of 10 top fundraising entrepreneurs: The Able Wireless Company, FastCashier, Kiro’o Games, LPM/L’Espace, Mellowcabs, MMABON’, Mobile Charging Kiosk, My eCampus, Rethink Education, and Save & Buy. Over the next three months VC4Africa will work with the selected entrepreneurs to further strengthen their business cases and facilitate introductions to VC4Africa’s Investor Network, the largest network of African SME focused investors.
The 10 selected companies require investments between USD $10K and USD $1 million and are based in Nigeria, South Africa, Kenya, Ghana, Cameroon and Rwanda. The founders are backed by quality teams and are running established companies, in many cases generating revenue. To find out more about the selected ventures, visit their venture profile pages on the VC4Africa website. Interested investors have to register on VC4Africa to get access to private documents and all other details of the ventures, and express their interest to invest.
The 10 selected teams have gone through a rigorous screening process, with the final selection done by a selection committee comprised of Victor Asemota of Afrinnova, Lot Carlier of African Media Ventures Fund, Ory Okolloh of the Omidyar Network, Sean Smith of Invested Development, and Samuel Ssenyimba of LGT Venture Philanthropy. VC4Africa is privileged and thankful to have had such an outstanding selection committee, and looks forward to their continued engagement and support as the selected entrepreneurs move forward.
“We saw some promising opportunities, that with the right support and mentoring, will be able to refine their business model and better highlight their unique selling point. There is potential to attract some key early stage funders”, says selection committee member Samuel Ssenyimba. He also has a suggestion for the entrepreneurs: “Keep things simple so that interested parties are easily able to grasp the business preposition. Focus is key.”
Venture capital platform VC4Africa connects qualified investors from around the world with quality entrepreneurs all across Africa. Entrepreneurs have already raised more than $2 million in funding, and members have secured joint ventures and investments in countries all across Africa. VC4Africa’s investor network is the largest network of dedicated SME investors interested in supporting African based ventures. In addition to a growing number of informal investors, the network also includes many established firms.
The next cohort is scheduled to be announced December 2013. In the meantime, entrepreneurs can still apply to raise funds on VC4Africa, make use of VC4Africa’s Mentorship Marketplace, access free online tools, and progress on the 5 steps to fundraising on VC4Africa.