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Frankfurt based venture capital (VC) firm GreenTec Capital Partners yesterday announced the launch of the GreenTec Capital Africa Foundation, a non-profit organisation that will promote investment in African entrepreneurship.
In a statement yesterday (14 March), GreenTec Capital Partners said the foundation — which will be led by CEO Thomas Festerling (pictured above, centre) — will seek to drive the creation of “economic and social-added value”.
The GreenTec Capital Africa Foundation, the VC explained, will work closely with the continent’s entrepreneurship community, public and private institutions, as well as with European and African investors and corporates.
The GreenTec Capital Africa Foundation will be led by CEO Thomas Festerling
The VC said investors and companies are set to benefit from “shared knowledge and expertise” on investments in African entrepreneurship through collaboration with the foundation.
“Moreover, the GreenTec Capital Africa Foundation organically collaborates with public and private institutions to fulfil joint missions, improving time-to-impact ratios through strengthened partnership contributions,” said the firm.
Commenting in the same statement, Festerling said in order to invest or receive investment it is crucial to have the right knowledge, the right partners and local as well as global visibility. He added that the foundation will strive to create an environment where all of this is accessible to entrepreneurs, investors and established companies.
“We know the pitfalls and ways to navigate these through our experience gained at GreenTec Capital Partners. We are open to collaborate with organisations who see the value in the approach we are taking and are willing to make a long-term difference,” he said.
Featured image, left to right: GreenTec Capital Partners founder Erick Yong,
GreenTec Capital Africa Foundation CEO Thomas Festerling and Finnfund CIO Markus Pietikäinen (YONG ERICK via Twitter)