Ring Capital, a French venture capital firm, has introduced a new fund named Ring Africa, aimed at French-speaking West Africa.
The fund focuses on supporting startups that strive to make positive impacts on society and the environment. This includes efforts to combat climate change, facilitate the region’s transition to a more formal economy, and enhance agriculture.
With an investment of €50 million, Ring Capital is backing startups from pre-seed to Series A stages.
Collaborating with Mstudio, a startup studio located in Abidjan, the firm aims to drive this initiative forward.
Mstudio’s strategy involves bringing successful business models from English-speaking Africa to Francophone Africa, leveraging proven strategies rather than reinventing the wheel.
Co-founded by Cedric Mangaud and Leslie Ossett, Mstudio brings a wealth of experience, having already launched successful ventures in Anglophone Africa. Now, they are applying their expertise to the French-speaking region.
Mstudio expresses excitement about the collaboration with Ring Capital, with Mangaud describing it as a significant development for the Francophone African tech industry.
In a noteworthy move, former government employee Elisabeth Moreno will assume the role of President of the Board at Ring Capital. Her objective is to foster greater inclusion and diversity while driving the advancement of Ring Africa’s initiatives.
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