Caleb Maru

OpenseedVC, an early-stage VC firm that was launched in 2024, has reached the first close of its $10 million fund for early-stage startups across Africa and Europe.  https://lnkd.in/durQ3KFi This is OpenseedVC’s first fund and will be used to back founders with domain expertise. OpenseedVC prioritises founders who demonstrate a clear understanding of the market they are entering and have the skills to navigate the challenges and opportunities it presents. The London-headquartered VC firm will invest up to $150,000 in startups across B2B software, artificial intelligence, fintech, digital health, and the future of work. The firm has already invested in two undisclosed artificial intelligence startups in Nigeria and the UK. Get more details 👇 https://lnkd.in/durQ3KFi

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Breaking News!!! ASEB Welcomes Simon T. to Advisory Board We are thrilled to announce that Simon Turner has joined the Advisory Board of the Africa Startup Ecosystem Builders Summit and Awards (ASEB). Simon brings over 20 years of experience in entrepreneurship, innovation, and strategy to the ASEB Advisory Board. As a Founding Partner of The Groundbreaking Org, he is dedicated to fostering entrepreneurial breakthroughs in frontier markets. Simon also leads the Ghana chapter of the Founder Institute, the world's largest pre-seed accelerator. His extensive background includes: *A decade of service in the Royal Australian Air Force *Experience as a proptech founder *Director at MEST (Meltwater Entrepreneurial School of Technology) *Founding Executive Director of the UK's Challenges Group & Challenges Worldwide in Ghana *Regular judge and mentor on TV shows "The McDan Entrepreneurship Challenge" and "The Circular Economy Competition" *Ambassador for the City of Berlin With nearly a decade of living in Ghana and working across Africa, Simon has been instrumental in supporting promising startups across various sectors. His expertise lies in helping entrepreneurs build credibility, generate revenue, gain traction, and access global networks and opportunities. Simon's current projects include collaborations with the Africa Startup Academy, Ghana Institute of Management and Public Administration (GIMPA), and initiatives in Frontier Entrepreneurship. We are confident that Simon's wealth of experience and passion for nurturing entrepreneurial ecosystems will greatly contribute to the mission and vision of ASEB. His insights will be invaluable as we continue to support and celebrate startup ecosystem builders across Africa. Important ASEB Updates: *Award Nominations Extended: The deadline for ASEB Awards nominations has been extended to July 21, 2024. *Complete Your Applications: For those who have been nominated, please ensure you complete your application form before the new deadline. *Nominate Deserving Ecosystem Builders: If you know of ecosystem builders across Africa doing amazing work, we encourage you to nominate them. *Self-nominations are also welcome and encouraged. *Nomination Link: To submit nominations, please visit: https://lnkd.in/dvcmTUMS *Collaboration Opportunities: ASEB is open for collaborations and partnerships for this year's event and beyond. Event Details: The ASEB Summit and Awards will take place in Accra, Ghana from October 2-4, 2024. We look forward to recognizing and celebrating the outstanding contributions of startup ecosystem builders across Africa. Join us in this exciting opportunity to showcase and support African entrepreneurship! Wish to get involve? collaborations or partnerships, or the event, please visit our website or contact our team directly. Join us in welcoming Simon Turner to the ASEB Advisory Board and take part in this year's ASEB Summit and Awards! McKevin Ayaba #ASEB2024

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Breaking News: A $1 Billion Tech Transformation in Kenya! We're thrilled to share that G42 from Abu Dhabi and Microsoft are making a landmark $1 billion investment to revolutionize Kenya's digital landscape! This is the largest investment in Kenya's tech sector to date, aimed at catapulting the nation to the forefront of ICT innovation. This monumental investment will establish a state-of-the-art, sustainable data center, develop AI models tailored to Kenya's local languages, and expand internet access to millions, bridging the digital divide and positioning Kenya as a global tech powerhouse. CTW Kenya and Africa Technology Show in Nairobi from July 9-11. Attend this event to gain insights into the latest advancements, network with industry leaders, and learn how a $1 billion investment will reshape Kenya's ICT landscape. For more details, visit www.CTWKenya.com and www.AfricaTechShow.com Register now and Join us in contributing to Kenya's digital future! #TechInvestment #KenyaICT #DigitalTransformation #G42 #Microsoft #Innovation #Connectivity #SustainableTech #GlobalCollaboration #CTWKenya #AfricaTechShow #DataCenters #AI #InternetAccess #TechEvents #ICT #FutureOfTech #edigitalconnectsummit2024 #eDigitalConnectAfrica

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Meet April's biggest fundraisers! 💰 1. Turkish retail investing startup Midas secured a recording breaking $45M #SeriesA raise, led by Portage 2. Kenya's AgriTech startup SunCulture raised a $27.5M round from a diverse group of investors, including InfraCo Africa 3. Turkish E-Commerce startup ikas secured a $20M round led by IFC - International Finance Corporation - marking their largest single investment in a Turkish startup. 4. UAE-based #FinTech Fortis raised a $20M in a Series A round led by Opportunity Venture (Asia) to further expand into MENA. 5. Kenyan agri-focused FinTech PULA closed a $20M round from Switzerland-based BlueOrchard Finance Ltd It's clear that Türkiye and Kenya brought in the big bucks in the #MEAPT region last month. Any theories for May's winners? 👇 Subscribe to our newsletter to stay updated on the latest ecosystem news: https://lnkd.in/e8aG3gMY #top5 #funding #startups #investors #equity #april

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Launch Africa Ventures Invests in Shiprazor. Launch Africa Ventures has invested in Shiprazor , a logistics aggregator platform founded in 2022 by Sahil Affriya, aimed at transforming the e-commerce landscape in Africa. Shiprazor addresses the unique challenges faced by online retailers and logistics providers by connecting them through a comprehensive platform that streamlines operations, reduces costs, and enhances delivery experiences. The platform offers various services, including Order Management Systems, Warehouse Management Systems, and Last-Mile Management Systems, allowing businesses to tailor their logistics strategies through a modular approach. Despite the challenges in Africa's logistics landscape, such as inadequate infrastructure, Shiprazor's innovative solutions position it to capitalize on the continent's growing e-commerce market, driven by increased internet access and a rising middle class. #Africa #Investments #Funding Photo: Sahil Affriya, ShipRazor founder.

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Verod-Kepple Africa Ventures (VKAV) has announced the successful final close of its pan-African venture fund at $60 million. This fund focuses on investing in scalable, tech-enabled, post-revenue startups that address challenging issues across the continent. Established in 2021 as a collaborative effort between Kepple Africa Ventures (KAV), a Japanese venture capital firm, and Verod Holdings (Verod), an African growth capital private equity firm, VKAV is led by partners Satoshi Shinada, Ryosuke Yamawaki, and Ory Okolloh. The VKAV Fund marks the inaugural investment vehicle for the partnership, leveraging the combined expertise of both firms to support early-stage startups addressing social challenges in Africa. Initially announcing a first close of $43 million in March 2023, the VKAV Fund has now concluded its final close at $60 million. Notable institutional investors in the fund include SBI Holdings, Toyota Tsusho Corporation, Sumitomo Mitsui Trust Bank, Japan International Corporation Agency, and Japan ICT Fund. New investors joining the final close include SCM Capital (formerly Sterling Capital Markets Limited) from Nigeria, along with additional institutional investors from Japan such as Taiyo Holdings and C2C Global Education Japan. VKAV is strategically focused on supporting growth-stage companies and bridging the funding gap, particularly for Series A and B stage startups in Africa. The fund emphasizes three key investment themes: companies developing digital infrastructure across various sectors, efficiency-focused solutions addressing business and consumer friction, and market creators fostering economic opportunities aligned with Africa’s evolving economy and demographics. To date, the fund has invested in 12 companies, including Moove Africa, KOKO Networks, Ceviant, Chari, Shuttlers, Nawy, Julaya, NowPay, Chefaa, Cloudline, Zone, and mTek-Services. This milestone underscores VKAV’s commitment to driving innovation and supporting impactful ventures that contribute to Africa’s economic growth and development. #oakcapital#venturecapital#funding#startups#underserved#founders#

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Kenya's Tech Startups Continue to Attract Significant Funding💡💰 Kenya remains a major player in the African tech startup ecosystem, securing $2.9 billion in funding over the last five years, according to Africa: The Big Deal. This figure places Kenya second only to Nigeria in the continent's funding landscape. In 2023, Kenya attracted nearly $800 million in funding, accounting for 28% of the total funding on the African continent. Despite experiencing a 25% year-over-year decline, Kenya's share of Eastern Africa's funding increased from 86% in 2022 to 91% in 2023. During this period, 93 Kenyan startups raised $100,000 or more, representing 19% of Africa's total startups securing such funding. #Kenya #TechStartups #Funding #AfricanTech #Innovation #StartupEcosystem #Investment #TechFunding 🌍

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Founded in 2013, Copia Global was a beacon of innovation, bringing essential household products to rural and peri-urban areas of Kenya. Despite its commendable mission, the startup is now closing its doors, liquidating assets, and paying creditors. The dream of sustained operations under new investments has regrettably faltered. As Copia Global winds down, the company has done something rare that we don't see often these days. They acknowledged the hard work and dedication of the employees and gave a token of appreciation. A creditors' meeting is set for July 14th to process claims and ensure all obligations are met. Copia's story is a reminder of the challenges facing B2B e-commerce in Africa. Prompting a broader conversation on the sustainability of startups and the support needed for them to thrive. It was too late to save the company from its fall. But we can still save others if we share ideas on ways to support #startups in challenging environments and what they too should do to keep up. #CopiaGlobal #Ecommerce #Inflation #StartupChallenges #Kenya

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Your skills are the tools to make a bigger IMPACT! 📢 These impact startups need your skills in FINANCE to support their journey towards CHANGE 🚀 🇰🇪 Digital Playbook Africa offers digital literacy and resources to young women in rural Kenya. 🇬🇧 Green Standard Trust DAO is a community governed land trust based on blockchain technology. 🇪🇸 JAD CoProductions org is an organization that supports youth, teenagers & women’s development – creating real opportunities & facilities for their economic & personal independence. 🇨🇦 Zestful Blends is an innovative health-focused fruit bar that combines a physical storefront with corporate partnerships and an AI-integrated online delivery system to offer fresh, nutritious, and eco-friendly fruit-based products in Vancouver. Lend your expertise to support these impact startups: 👉 https://lnkd.in/g_9pyBBc Unstoppable change from wherever you are! 🌍 #volunteering #volunteer #startups #sdgs #impact #sustainability #impactstartups #volunteeropportunities #remotevolunteering #finance

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In the business year (July 2022 - June 2023) about 2034 companies in Kenya shut down or were liquidated, according to a report by Statista. (2023) While multiple reasons were issued that led to the collapse of those ventures, the lack of simple and more accessible financing was a rampant factor. There being diverse sources of capital for local businesses and ventures, the problem often lies in the founding teams or executives not structuring their businesses in the right way to access capital. Often they are unable to raise the much needed capital for their operations or expansion, easier and on time. By introducing Cach Finance to the game, we are bringing a simpler route for businesses to raise capital from their local communities in a more accessible way. Ventures wishing to raise through Cach, will undergo a brief program aimed at equiping them better for the raise, then get enlisted to crowdfund on the platform. The pool of investors on the other hand, who would contribute their funds get entitled to some of the company shares or regular debt repayments for an agreed period. Individuals or groups that engage in funding these ventures, will stand to partake of the success of those ventures when they achieve big revenues or get sold for large amounts, raising income levels and growing our local ecosytem livelihoods. Businesses could now imagine getting their customers, early believers, partners or even their social media fans to invest in their growth and share-in the vision. Be on the lookout for a Cach poster, or you could hear it from your friend first, we will be coming to a town near you (if you are in Kenya) soon.

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Simon Tkachenko recently spoke on a panel at the Global Digital Development Forum sharing his insights, alongside other USAID Digital Invest partners, on the funding gaps faced by startups in North Africa 💰 👉 Swipe to find out why Simon believes venture builders, international agencies, and regulatory changes will be the key differentiators in addressing financing issues in the region. 🔗 Learn more about our VBs here: https://bit.ly/4f0EvK6 #venturebuilding #menastartupecosystem #modus #USAIDl

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Kenya's Tech Startups Continue to Attract Significant Funding. Kenya remains a major player in the African tech startup ecosystem, securing $2.9 billion in funding over the last five years, according to Africa: The Big Deal. This figure places Kenya second only to Nigeria in the continent's funding landscape. In 2023, Kenya attracted nearly $800 million in funding, accounting for 28% of the total funding on the African continent. Despite experiencing a 25% year-over-year decline, Kenya's share of Eastern Africa's funding increased from 86% in 2022 to 91% in 2023. During this period, 93 Kenyan startups raised $100,000 or more, representing 19% of Africa's total startups securing such funding. In 2022, Kenya represented the largest share of regional funding in Eastern Africa, accounting for 86%. Notable deals in the market include M-Kopa’s $75 million round, Wasoko’s $125 million Series B, and Sun King’s $260 million Series D. Beyond Nigeria, Kenya was the only other market in Africa to attract over $1 billion in funding in 2022. In 2021, Kenya attracted a significant portion of Eastern Africa's startup funding, securing $299 million, which represented 70% of the region's total funding of $425 million. Tanzania followed with $91 million, while Uganda raised $18 million. Other countries in the region collectively accounted for $16 million. In 2020, Kenya secured $209 million in startup funding, accounting for 79% of the total $265 million raised in Eastern Africa. Tanzania attracted $18 million, while Uganda raised $8 million. Other countries in the region collectively secured $29 million. In 2019, Kenya attracted $164 million in startup funding, representing 71% of the total $230 million raised in Eastern Africa. Uganda followed with $28 million, Ethiopia secured $26 million, and Tanzania raised $11 million. Other countries in the region collectively accounted for $65 million. Together with Nigeria, South Africa, and Egypt, Kenya forms part of the "Big Four," which collectively attracted 85% of the total $15 billion raised by African startups. #Startups #Kenya #Funding #AfricanStartups #Kenyatech #StartupFunding #TechInvestments #BigFour #Kenya #SouthAfrica #Egypt #EmergingMarkets #ClimateTech

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Over the past few years, venture capital (VC) funding in Africa has been unevenly distributed among its 54 countries. The “Big Four” tech ecosystems—Kenya, Nigeria, Egypt, and South Africa—have consistently attracted more than 70% of the continent's total funding. In 2023, these four nations accounted for about 90% of all startup funding in Africa. In the first six months of 2024, the trend continued, with the Big Four receiving about 79% of the $780 million raised by startups across the continent. This figure is slightly below the five-year average of 83% and significantly lower than the record 92% seen in the first half of 2023. However, Kenya emerged as the leader for the third consecutive half-year period, raising $244 million, representing 32% of the total funding. https://lnkd.in/ejeZUxZ4

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DID YOU YOU KNOW? Be prepared to walk away from a funding deal that doesn't align with your business goals or values. It's important to find an investor who is a good fit for your company. Follow us for more @venturehubafrica #venturehubafrica #startupfunding #fundraising #businessgrowth #enterpreneurmindset #entrepreneurlife #smallbusiness #businessfunding #investing #venturecapital #grantfunding #crowdfunding #businessloan

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🌍📡🚀 Exciting developments in African tech & telecom! From funding rounds to industry shifts, catch up on the latest news. 1. Renda secures $1.9m pre-seed funding to enhance order fulfillment for businesses in Africa. The startup aims to simplify fulfillment processes and expand across Nigeria and Kenya. 2. Google reorganizes core teams, downsizes roles, and shifts positions overseas, affecting at least 200 employees. The company is streamlining operations ahead of Google I/O. 3. Safaricom's M-Pesa faces potential separation from the telecom leader, Safaricom, as the Central Bank of Kenya pushes for transparency and oversight in the financial sector. 4. CatalyzU and Future Africa launch a fellowship to support African founders, providing tailored training to enhance business development. 5. Samoyedcoin

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Tanzanian fintech startup NALA has raised $40 million in a Series A funding round led by San Francisco-based Acrew Capital, with contributions from DST Global, Norrsken22, and notable angel investors Ryan King and Vlad Tenev. This oversubscribed round reflects strong investor confidence in Nala’s vision and potential. Nala, which initially focused on affordable money transfers in Tanzania, has expanded its footprint in the fintech space, particularly in remittance services. The company’s consumer app allows users to send money across 249 banks and 26 mobile money services in 11 African markets. A notable integration with Kenya's M-Pesa enables remitters to pay local bills directly into mobile wallets, leveraging existing mobile money infrastructure. In March 2024, Nala ventured into the B2B payments sector by launching Rafiki, a platform that integrates directly with banks and mobile money providers to address common issues in remittances. According to Nala, Rafiki not only enhances their service reliability but also empowers global businesses to trade more effectively with Africa by facilitating seamless cross-border payments. Learn more: https://lnkd.in/dZPvpc-9 #Fintech #Africa #Tech #Payments

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