Posted by Opeyemi Kehinde, Lagos | 2 October 2019 | 694 times
Venture Capital for Africa (VC4A) has announced the 12 ventures (11 Series A and 1 Seed+) for its 2019 Venture Showcase. According to the firm, these companies represent the best investment opportunities on the African continent.
“They have been vetted by 40 VC investors through a rigorous referral and selection process.
“The companies demonstrate strong revenues and competitive edge, are well-positioned for regional and internal expansion, and are working on important innovations in the healthcare, finance, transport, commerce and advertising sectors.
“The founders will showcase their businesses in front of the investors at Africa Early Stage Investor Summit in Cape Town on 13-14 November 2019, with the aim of raising $250k-$5mln in Series A capital.
“All companies provide technology-intensive or innovation-based products or services that are currently available in one or more African markets,” a statement from VC4A read.
The 12 companies are: CredPal (Nigeria), CrowdForce (Nigeria), LifeBank (Nigeria), 7keema (Egypt), Brimore (Egypt), Buseet (Egypt), FinChatBot (South Africa), FlexClub (South Africa), Mobiz (South Africa), Snapnsave (South Africa), Yassir (Algeria), and VRapeutics (Egypt) for the Seed+ category.
Before the main event billed for Cape Town next month, these 12 selected start-ups will be linked to top Venture Capital (VC) investors as mentors in the coming weeks and receive bespoke investor readiness training that culminates in a 1-week residency in Cape Town, South Africa, the organiser stated.
“During the residency, the start-ups will have the opportunity to interact with and learn from their mentors, peers, and partners, before delivering their pitches on the main stage of the Africa Early Stage Investor Summit.
“The programme offers two days of networking opportunities at the Summit, where entrepreneurs will also engage with interested investors during deep-dive sessions.
“Moreover, the participants will pitch to a wider audience of corporate investors and tech professionals at VC4A’s partner event, AfricaCom.
“Investor participation has been outstanding this year, with 40 major VCs and multiple angel groups involved in the intensive vetting process.
“We believe initiatives like this help to build trust and foster collaboration between industry stakeholders, and importantly, create both co-investment opportunities and exit opportunities for our partners,” it added. (DAILY TRUST)
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