OnAfrica Investment Syndicate launches to fund start-ups
Startupbootcamp Afritech, a high-growth startup accelerator, has officially launched the OnAfrica Investment Syndicate to provide investment to businesses.
The syndicate, which is run by Henry Azubuike Ojuor, director of programmes at Startupbootcamp Afritech, is intended to fund firms that have been scouted, vetted, and subjected to its due diligence process.
Start-ups supported by OnAfrica Investment Syndicate are eligible for support ranging from $100,000 to $400,000. However, the Syndicate wants to do $3 million to $5 million in startup deals every year.
"Our goal for angels and the venture capital community is to provide optimally timed access to exclusive Africa-focused startup deal flow, pre-vetted by our scouting and due diligence frameworks," stated Ojuor. "It's all about timing."
According to a release, Startupbootcamp Afritech has been at the vanguard of innovation acceleration across Africa for nearly a decade.
This, according to the accelerator hub, is the first step towards promoting even more significant growth in the startup ecosystem.
"We believe we have built Africa's most valuable Alumni community with a reputation for graduating valuable startups through our programmes and this is the perfect time for members of our communities to participate in the value that they have helped create we couldn't be more optimistic of the general ecosystem effect of this initiative," said Startupbootcamp AfriTech in a blog post.