Pan-African Startupbootcamp AfriTech’s latest move involves creating OnAfrica, a unique community and investment syndicate.
Led by Henry Ojuor, the director of programs and ASIP founder-in-residence, this initiative aims to connect startups with mentors who not only provide operational guidance but also contribute capital.
Startupbootcamp AfriTech, known as the first multi-corporate-backed pan-African startup accelerator, launched the Africa Startup Initiative Programme (ASIP) in March 2021.
ASIP supports early-stage African tech startups disrupting various sectors and recently welcomed 10 startups into its fourth cohort.
OnAfrica intends to play a crucial role in showcasing promising startups from Africa by offering vital support like funding, access to partnerships, and resources.
The investment syndicate plans to provide selected startups with checks ranging from US$100,000 to US$400,000, covering funding, mentorship, and guidance from an experienced team of angel investors.
Henry Ojuor expressed excitement about the venture, stating that the OnAfrica Investment Syndicate aims to ensure startups within their network receive enduring value from mentors while also allowing mentors to capture some of the value they provide to founders.
To achieve this, OnAfrica leverages pre-vetted startup deal flow through Startupbootcamp AfriTech’s extensive scouting network and due diligence frameworks.
Members of the syndicate, benefiting from exclusive access granted by the Startupbootcamp alumni, can participate in premier deal flow opportunities emerging from Africa.
The initiative has ambitious plans, aiming to facilitate between US$3 million and US$5 million per year in startup deals through its network.
OnAfrica is now inviting angels to join this journey by expressing their interest in participating.
Related Posts
Educatly plans MENA expansion after banking seed funding
Rubyx secures $440k loan from Proparco
