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Andela and Flutterwave co-founder Iyinoluwa Aboyeji is looking for co-investors to join his Future Africa fund.
Aboyeji (pictured above), who founded the fund last year with Olabinjo Adeniran and Adenike Sheriff, said in a blog post last week that the fund is also looking to support entrepreneurs with solutions that tackle the Covid-19 pandemic.
In the blog post he announced that the fund had set up the Future Africa Collective, which he called a “people-powered innovation fund that allows you (to) co-invest with us”.
The Future Africa Collective will offer qualified investors who apply and are admitted an opportunity to co-invest with the fund on a deal-by-deal basis through investment syndicates.
The Future Africa fund was set up earlier this year by Olabinjo Adeniran, Adenike Sheriff and Iyinoluwa Aboyeji
“While we source and run diligence on innovators, the entire process for each deal is managed on your behalf by a globally renowned and trusted institutional fund partner based in the US,” said Aboyeji, without revealing the name of the partner.
He said in exchange for their capital, an annual subscription fee and a reasonable carry for the Future Africa team, investors will receive an opportunity to invest in groundbreaking innovators building the future today.
“We need you, our community, to partner with us as we fund the next Andela’s and Flutterwave’s through this health and economic crisis. Like you, we believe that especially as far as Africa is concerned, capital is not just a tool for creating and preserving wealth, it is also a weapon of innovation and revolution,” he said.
Said Aboyeji:” I’m no longer the crazy black guy investing in molecular lab diagnostics, my government is in on it too. If even two months ago you showed me the world we woke up in today, I’d be asking you who’s your dope dealer. But here we are.”
Featured image: Africa Future fund co-founder and general partner Iyinoluwa Aboyeji (Facebook)