Pan-African VC Firm, Ambo Ventures, Launches $50m Fund for Africa Startups
Ambo Ventures, a pan-African Venture Capital firm that is focused on the content’s green economy has announced it raised $50m fund to invest in seed stage, Series A and select Series B rounds of African green economy startups.
Ambo Ventures was founded in 2021 by the duo of Jude Bouhmouch and Loic Amado with the aim of investing in impact-driven and socially responsible startups in Africa.
On his part, Jude Bouhmouch, has handled $1.2 billion in public equity funds, invested in and counseled dozens of entrepreneurs on fundraising and corporate finance, and had also helped develop Google’s Sustainable Development Goals Accelerator.
Loic Amado, the second co-founder, introduced Uber on the continent, notably in Egypt, resulting in a 10x increase in revenue. Their knowledge of the region is backed up by on-the-ground collaborators like Kenyan Mark Kuria.
Co-founder Jude Bouhmouch speaking on the funding said that Ambo Egyptian startups can tap into Africa’s exciting markets through Ambo’s accelerator funds.
“Ambo was built on the premise of giving top Egyptian startups and scale-ups access to African markets, and vice versa.
“Africa presents the most exciting and untapped opportunity for Egyptian companies. In addition to Egypt, Kenya, Nigeria and South Africa are also significant markets in terms of startup activity. Nigeria and Kenya alone have two-and-half times the population of Egypt” said Jude.
Ambo Fund is ready to realize its aspirational green ambitions, led by founders with regional experience and backed by partners on the ground across the continent.