OpenseedVC, a new operator-led fund seeking to be first investors in seasoned operators starting tech companies across Africa and Europe, has officially launched, announcing the first close of its US$10 million angel-style early stage fund.
The OpenseedVC fund, which is backed by LPs such as founders, operators and HNIs across Africa, Europe and United States (US), will offer up to US$150,000 starter cheques, along with access to its robust network of over 50 seasoned experts, to support operators launching tech startups.
It will invest mainly in the future of commerce, B2B software, AI, fintech, health, and work, with a goal to align the inherent impact of the portfolio with the UN Sustainable Development Goals (SDGs). OpenseedVC has already made its first two investments, in an AI-enabled supplier dispute resolution software in the United Kingdom (UK), and in a foundational speech-to-text transcription model for underserved accents, starting with Africa.
“As an operator, and investor, I have encountered incredibly talented and experienced operators, and the challenges faced as they try to launch their startups. Operators have the advantage of domain expertise, and unique insight into large problems that can be tackled with innovative technology. Those who are visionaries coupled with the ability to execute, scale, build teams and have the grit required to solve difficult problems – these skills, especially in the current market, are highly relevant to building technology start-ups that solve real problems, and create scalable value for the global economy and our investors. The experience seasoned operators bring in terms of business building, combined with the dynamism and hustle that founders possess, is the focus for OpenseedVC,” said general partner Maria Rotilu.
“The current difficult fundraising climate is especially harsh for early-stage founders, but we believe incredible companies are born in the most difficult macroeconomic climates. We want to be first believers in these experienced operators to give a great head start, with capital and an extensive operator network that support from start to launch of their technology companies.”
Applications are currently open, and interested startups can learn more and apply by visiting the OpenseedVC website.
