Ingressive Capital launches new call for African tech startups to tap $5m fund

Ingressive Capital, a $5-million venture fund focused on early-stage African startups, is looking to invest tickets sizes of up to $100 000 in tech startups from Sub-Saharan Africa, with a possibility of $250 000 in follow-on investments.

In a call for applications on its LinkedIn page on Monday (11 February), the firm stated that it is currently investing ticket sizes of between $50 000 and $100 000 in African tech-enabled startups.

In the same post, Ingressive Capital founder and partner Maya Horgan Famodu (pictured above) acknowledged how difficult fundraising is for founders.

Ingressive Capital will invest between $50 000 and $100 000 in tech startups from Sub-Sahara Africa

“Fundraising is difficult. 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. No matter where you are in Sub-Saharan Africa, apply. We’re looking for the best of the best, irrespective of who you know or where you’re based,” she said.

On its application page, the firm explains that it is looking for startups that have gained traction and have a clear business model.

In addition, to be considered for the funding, applicants must operate in a “high-growth technology business” targeting “a larger market’.

Those selected for investment stand to benefit from business development and partnerships through Ingressive Capital’s network, as well as access to international capital.

Ingressive Capital was founded in 2017, its portfolio includes Nigerian startups adtech Taxitv, broadband internet service provider Tizeti, smart biking startup AWA Bike, payments platform Paystack and event booking portal Ogavenue.

Featured image: Geralt via Pixabay