Venture fund firm Ingressive Capital, which is focused on early-stage African startups, is calling out early-stage startups from Sub-Saharan Africa to apply to raise funds of up to $100 000, with a possibility of $250 000 in follow-on investments.
Ingressive Capital made a call for applications on its LinkedIn page on Monday. In the post, the company stated that it is currently investing ticket sizes of between $50 000 and $100 000 in African startups.
Ingressive Capital founder and partner Maya Horgan Famodu noted in the LinkedIn post that the company is looking to invest in great ideas coming from the best and the brightest founders across Africa.
“Fundraising is difficult,” Maya said, reported Ventureburn. “We want to help the best and the brightest founders across Africa stay focused and keep building. We’re looking for great ideas built by solid teams.”
She went on to call out each and every startup in Sub-Saharan Africa whether tech or fintech, manufacturing tech or agritech, shipping tech or health tech to apply for the fundraising irrespective of where they are based.
“No matter where you are in Sub-Saharan Africa, apply,” Maya said. “We’re looking for the best of the best, irrespective of who you know or where you’re based.”
The post added that the applicants in order to be considered for the funding must operate in a “high-growth technology business” targeting “a larger market’.
Applications for funding are open here, with applicant startups to receive an answer within 30 days regarding investment. Those selected for investment will be offered business development and partnerships through Ingressive Capital’s network, as well as access to international capital.
Founded in 2017, Ingressive Capital’s portfolio includes Nigerian startups Taxitv, AWA Bike, broadband internet service provider Tizeti, payments platform Paystack and event booking portal Ogavenue.