Seedstars Capital and Fondation Botnar have recently announced the launch of a groundbreaking initiative called Seedstars Youth Wellbeing Ventures. With a commitment to invest $20 million, their primary focus is on supporting early-stage, purpose-driven companies in Africa that aim to enhance the wellbeing of young people in low- and middle-income countries.
Seedstars Capital, an alternative investment platform dedicated to emerging fund managers and technology companies in emerging markets, has joined forces with Fondation Botnar, a Swiss philanthropic foundation focused on improving the health and wellbeing of urban youth worldwide. Together, they seek to make a significant positive impact through strategic investment.
How the Fund will be Deployed
- This new fund will prioritize startups in various sectors that directly contribute to the youth’s wellbeing. These sectors include health services, environmental sustainability, local food security, water and sanitation, waste management, digital technologies, quality education, access to employment, financial services, safe transportation, and affordable housing.
- Seedstars Youth Wellbeing Ventures intends to be a catalyst for attracting additional capital to the African continent. It also aims to co-invest alongside like-minded investors, multiplying the impact of their investments.
- The fund will be deployed across Africa, with a particular emphasis on companies operating in or expanding to Tanzania, Ghana, Senegal, Morocco, and Egypt.
Benjamin Langer, a Partner at Seedstars Capital, expressed his enthusiasm about the partnership with Fondation Botnar, saying, “Our partnership with Fondation Botnar will combine our strengths and resources to drive meaningful impact in emerging markets. Together, and with the added strength of our co-investor network, we will identify, invest, and scale innovative companies with the potential to transform the lives of young people across our key markets.”
Antoine Veyrassat, Venture Philanthropy Lead at Fondation Botnar, echoed this sentiment, stating, “Fondation Botnar is excited to join Seedstars in supporting companies that are making a difference. Our shared commitment to improving the health and wellbeing of young people aligns strongly with our investment strategy that takes a market-based approach to philanthropy, especially in light of the unique challenges and opportunities presented by rapid urbanization and the increasing number of young people living in cities.”
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Seedstars and Fondation Botnar have already made strides in Africa by collaborating on their first joint investment in Chargel, a Senegal-based logistics technology company. Chargel utilizes technology to streamline operations in the fragmented logistics sector and has successfully raised $2.5 million in seed funding. This investment exemplifies the partners’ dedication to backing companies that contribute to youth wellbeing, such as improving the working conditions of young Senegalese truck drivers.
To bolster their efforts and drive the mission forward, Seedstars welcomes Cyrine Ben Fadhel as an Investment Manager. With her extensive experience in venture capital, including past roles at Lateral Frontiers Capital and Global Ventures, Cyrine will play a crucial role as the main point of contact for the Seedstars Youth Wellbeing Ventures mandate. Her expertise will be instrumental in identifying and scaling innovative companies across the African continent.
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Through their collaborative approach and strategic investments, Seedstars Capital and Fondation Botnar are poised to empower African startups and make a tangible difference in the lives of young people. By directing their resources towards initiatives that prioritize youth wellbeing, they aim to create a sustainable and prosperous future for the continent.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard