For-profit startups in Africa with solutions targeting women and girls are invited to apply to coLABS, a gender-lens investment portfolio launched by US based impact investor Gray Matters Capital (GMC). 

“We have been so impressed by the many African entrepreneurs who are creating innovative solutions to tackle the barriers affecting women, that we are looking to deepen our presence on the continent by allocating the majority of our committed capital to fund promising enterprises in the region that meet our investment criteria. We are also encouraged by the number of teams made up of local talent who have vast knowledge of the challenges that they are tackling and design customer-driven innovations to address these gaps,” said Jennifer Soltis, Global Lead, coLABS, Gray Matters Capital.

Here Is What You Need To Know

• Social enterprises that align with the investment criteria, advance through the due diligence process, and are successful in pitching their businesses to the Investment Committee have the potential to secure a revenue-share investment between US$100,000 and US$250,000. 
• In addition to the financial support, coLABS provides technical assistance and strategic guidance to teams by helping them formalise an advisory board, providing access to stronger networks, and offering customised feedforward to help scale their business.
• Since its launch in 2018, coLABS has invested in nine social enterprises across sectors from civic engagement, to health, livelihoods and agri-tech, and countries spanning four continents.

Read also: Nigerian Health-tech Startup Healthlane Raises $2.4 Million From Sequoia Capital

What Startups Is coLABS Looking For?

coLABS welcome applications from early stage enterprises in Africa that:

• Are intentional about impacting women and have a product or a service that is tackling a critical barrier faced by women and/or girls
• Are market-driven and post-revenue
• Have tested their business model and seen it to be sustainable
• Are innovative in who they serve (target market), how they serve them (model), and/or the door they’re opening for women (impact)
• Are ready to scale their business to maximise social impact and financial returns and for revenue-share as the investment structure
• Are leveraging technology to provide women and/or girls with access to financial capital, healthcare, skill building and job placement, education, and supply chain (specifically around the distribution of essential goods and services)
• Are run by entrepreneurs who are nimble and laser-focused on their customers
• Have a gender diverse team with strong local representation

How Startups May Apply

Applications are accepted on a rolling basis via the coLABS website. For more information on the application process, the investment model and funding criteria, visit the website: www.gmccolabs.com.

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 writer