The largest pre-seed startup accelerator in the world, Founder Institute (FI) has partnered with Pacer Ventures, a sub-Saharan Africa venture firm, for the African Accelerator programme led by FI.
FI graduates that participate in the African Accelerator programme will be reviewed by Pace Ventures and be given the opportunity to be considered for potential investment in a seed or pre-seed round of funding.
No ad to show here.
Pacer Ventures as the ‘Investor in Residence’ for Founder Institute’s African Accelerator programme
In an official press release, Ryan Micheletti, Head of Global Operations for the Founder Institute explains that the partnership with Pacer Ventures will allow FI to remain ahead of its competition.
“FI is quickly becoming the gold standard for pre-seed acceleration in Africa. We are excited to strengthen our leadership position by partnering with Pacer Ventures to foster investment in FI Alumni all across the Continent.”
FI and Pacer Ventures most recently entered into a strategic partnership to assist early-stage African start-ups that are addressing and solving critical problems faced in Africa.
The objective for Pacer Ventures aligns with FI’s mission which is to empower communities of talented and motivated individuals and help develop impactful and technology-driven businesses worldwide.
The partnership
Established in 2009 and based in Silicon Valley, Founder Institute has reportedly supported over 4 500 entrepreneurs since its launch. The leading seed-accelerator in the world aims to provide entrepreneurs with the needed support to build a meaningful business.
Pacer Ventures, a venture firm for sub-Saharan Africa, in partnership with Founder Institute, aims to improve the funding process by providing African startups with investment thesis support, structure, templates, tools, deal flow, potential seed and mentorship support.
Pacer Ventures, in partnership with techbuild.africa, provides market and promotional support for listed FI portfolio companies in Africa.
The relationship between Pacer Ventures and Founders Institute benefits both parties.
Gbemi Akande, the Managing Partner of Pacer Ventures, comments that solidifying the partnership with the Founder Institute is mutually beneficial.
“Our partnership is in line with what Pacer VC was set up to accomplish. By partnering with Founder Institute, we at Pacer VC will accelerate our mission of supporting early-stage companies. It is a win-win and we look forward to a mutually beneficial collaboration with FI.”
FI has accumulated an Alumni strength of more than 100 companies that address crucial issues within Africa. The strength accumulated will accelerate FI’s growing footprint in Africa while supporting Pacer VC’s aim of increased accessibility of funding for African early-stage startups.
Geoffrey Weli-Wosu, General Partner at Pacer Ventures comments on the appropriate partnership.
“Founder Institute stands out as one of the top pre-seed accelerators across the African continent. Pacer Ventures is committed to supporting startups coming out of the program who can support the transformation of the continent.”
Pacer Ventures piqued interests from limited partners across the world after pitching at the VC Lab Venture Forum. The venture firm’s strategic relationship with Founder Institute identifies and recommends winning startups that demonstrate the potential of scalability in African markets.
Chukwuemeka Fred Agbata, General Partner at Pacer Ventures and FI Regional Director comments on the importance of supporting innovative young entrepreneurs who are addressing and solving crucial issues in Africa.
“Africa faces many challenges, but within every challenge lies opportunity and young people are leveraging technology to solve these problems across the Continent. It is our duty to inspire and fund the entrepreneurs who are building valuable solutions to our most pressing problems. Africa is the future, and investors and LPs are now becoming aware of this.”
Read more: Egypt’s Source Beauty raises pre-seed funding from 500 Falcons
Read more: New Venture Capital firm for African tech startups launches
Featured Image: Ryan Micheletti, Head of Global Operations for the Founder Institute via LinkedIn
