Seedstars Capital and Fondation Botnar have launched the Seedstars Youth Wellbeing Ventures mandate. Together, they intend to invest $20million in early-stage, purpose-driven companies. The aim is to improve the well-being of young people in low- and middle-income countries across the continent.
Seedstars Capital operates as an alternative investment platform with a focus on supporting emerging fund managers. Additionally, it invests in technology companies located in emerging and frontier markets. Fondation Botnar is a Swiss philanthropic foundation. It is dedicated to improving the health and wellbeing of young people living in urban areas worldwide. The partnership reflects their shared commitment to fostering positive impact through strategic investment.
The mandate will target pre-seed to Series A companies in sectors such as:
- Health services
- Environmental sustainability
- Local food security
- Water and sanitation
- Waste management
- Digital technologies
- Quality education
- Access to employment
- Financial services
- Safe transportation
- Affordable housing
Seedstars Youth Wellbeing Ventures aims to catalyse additional capital into the continent and is expected to co-invest alongside like-minded investors. Investments will be made across Africa, with a strong focus on companies active in, or expanding to Tanzania, Ghana, Senegal, Morocco, and Egypt.
Celebrating companies making a difference
“Our partnership with Fondation Botnar will combine our strengths and resources to drive meaningful impact in emerging markets,” said Benjamin Langer, partner at Seedstars Capital. “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 said: “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.
“This is in addition to our other philanthropic funding, especially as rapid urbanisation and the increasing number of young people living in cities present both unique challenges and opportunities.”
The partnership between Seedstars and Fondation Botnar has already begun making strides in Africa. Notably, one of their first joint investments was Chargel, a Senegal-based logistics technology company. The venture, which uses technology to streamline operations in the fragmented logistics sector, has successfully raised $2.5million in seed funding. This move exemplifies the partners’ commitment to backing companies that contribute to youth well-being by improving the working conditions of young Senegalese truck drivers.
To further support the mandate and drive its mission, Cyrine Ben Fadhel is joining Seedstars as an investment manager. Bringing years of hands-on experience in venture capital, with past roles at Lateral Frontiers Capital and Global Ventures, Fadhel will act as the main point of contact for the mandate. Her knowledge will be instrumental in identifying and scaling innovative companies across the African continent.
Image and article originally from thefintechtimes.com. Read the original article here.