US-based fund, Aptive Capital opens applications for investment worth $10 k for African startups.
US-based investment fund, Aptive Capital has opened applications for investment worth $10, 000 to assist African entrepreneurs and innovators who are committed to social impact in their communities.
Startups that need funding can apply from Nigeria, Ghana, Kenya, South Africa, Egypt, and Ethiopia.
Thereafter, 25 startups will be invited for one-on-one Zoom pitching sessions, where ten startups will be selected for the finals, after which five companies will receive US$10,000 in funding
Aptive Capital which was launched in 2020 is committed to funding, supporting, and coaching early-stage social impact startups.
The investment fund started in 2020 due to the funding gap as a result of the ongoing COVID-19 pandemic which has negatively impacted businesses.
According to the founding partner, Ben Peter, Aptive Capital is particularly interested in emerging markets as most solutions are driven out of a real quest for impact and not just profit.
We are sector indifferent as we invest equally in traditional manufacturing and service businesses as well as technology-driven ones.
In 2010, the fund initially invested in Africa because it saw a great opportunity in the emerging markets.
The firm has already invested in eCommerce, agriculture, and food sector companies.
However, Aptive Capital is currently interested in startups with innovations in the following categories; Digital storytelling, eLearning, Precision farming, Access to market, Access to finance, Digital payment, Supply chain management, Food delivery, Animal and crops health, Soil fertility, Logistic and transport, e-commerce, Gamification, Big data, Data analysis, Open data, Data protection, Data Security, Cybersecurity, Crowdsourcing, Building digital expertise for farmers (eSkills, e-Literacy).
The firm is willing to invest $10,000 in five startups with the capacity to grant more funding should the company require a higher amount based on its previous revenue and profitability records.
Startup founders can participate in the challenge by sending an email containing their deck and financial model to firstname.lastname@example.org.
Applications will close on June 10, 2020.