In Africa, there are a lot of early-stage businesses, but there isn’t much oversight or investment. Seedstars Africa Ventures, for example, has made it their purpose to address these requirements. To do so, it was able to secure the commitment of the venture capital firm LBO France.
The firm will invest no less than €6.3 million ($7.5 million) in the growth of businesses across the continent as a Seedstars partner. This sum is part of Seedstars’ fund, which was created in 2019 with the goal of raising $100 million. It focuses on seed and A series round of funding of innovative firms operating in Sub-Saharan Africa.
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“Africa has become LBO France’s new frontier with Venture as one of the strategies we are implementing on the continent. Innovation is buoyant there, the mood is incredibly positive and demography and economy are powerful drivers. Partnering with Seesdstars, is a terrific opportunity to address this new market,” Robert Daussun, CEO of LBO France said.
LBO France’s inclusion, according to Maxime Bouan, Managing Partner of Seedstars Africa Ventures, is a significant step forward for African entrepreneurship.
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“This shows the attractiveness of the venture capital segment and the growing comfort of international investors to invest in African innovation at an early stage,” he said.
Funded by private institutional capital, LBO France is being joined by public institutions and corporates.
Tamim El Zein, Managing Partner said:
“LBO France’s commitment is a strong signal to the market, incentivizing corporates and other institutional investors to partner and benefit fully from the African growth opportunity.”
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write