Morocco-based seed fund Outlierz, has launched and aims to provide smart capital to African startups.
The organisation looks at startups with an MVP or an executable prototype, who are in the pre-seed or seed stages. They should also have a ticket size between US$50 000 to US$200 000.
Startups also looking to raise seed or Series A round funding are also eligible.
Outlierz will also provide startups training tools, such as advice and access to its network.
“We started from a simple yet striking conclusion: too many startups fail at the pre-seed and seed stages because of a lack of appropriate resources. We intend to change that by providing smart capital to the continent’s most promising companies,” says founder and managing director of Outlierz, Kenza Lahlou, in a press release to Ventureburn.
“The target outcome will be a stronger pool of high potential startups that are ready for subsequent investment and, in the end, lead to success stories that are uniquely African.”
The fund is backed by Angel and VCs, such as the CEO of YCombinator, Michael Seibel, 500startups MENA partner, Hassan Haider, and tech entrepreneurs from Africa and Morocco.
Those looking to apply can do so through the Outlierz website.