Seedstars Capital and Fondation Botnar have announced a groundbreaking initiative aimed at improving the wellbeing of young people in Africa. The two organisations are launching the Seedstars Youth Wellbeing Ventures mandate, which will involve a $20 million investment in early-stage, purpose-driven companies across the continent.
Seedstars Capital, an alternative investment platform focusing on emerging fund managers and technology companies in emerging markets, has partnered with Fondation Botnar, a Swiss philanthropic foundation dedicated to improving the health and wellbeing of young people in urban areas worldwide. This collaboration demonstrates their shared commitment to driving positive impact through strategic investment.
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The Seedstars Youth Wellbeing Ventures mandate will primarily target companies in low- and middle-income countries, focusing on sectors such as health services, environmental sustainability, local food security, water and sanitation, waste management, digital technologies, quality education, access to employment, financial services, safe transportation, and affordable housing.
The initiative aims to attract additional capital to the continent by encouraging co-investment with like-minded investors. The investments will be made throughout Africa, with specific attention given to companies in Tanzania, Ghana, Senegal, Morocco, and Egypt.
Benjamin Langer, a partner at Seedstars Capital, expressed enthusiasm about the partnership, stating, “Our partnership with Fondation Botnar will combine our strengths and resources to drive meaningful impact in emerging markets. Together, and with the added strength of our co-investor network, we will identify, invest, and scale innovative companies with the potential to transform the lives of young people across our key markets.”
Antoine Veyrassat, venture philanthropy lead at Fondation Botnar, highlighted the significance of the collaboration, saying, “Fondation Botnar is excited to join Seedstars in supporting companies that are making a difference. Our shared commitment to improving the health and wellbeing of young people aligns strongly with our investment strategy that takes a market-based approach to philanthropy, especially as rapid urbanisation and the increasing number of young people living in cities present both unique challenges and opportunities.”
The partnership has already made progress in Africa, with Chargel, a Senegal-based logistics technology company, being one of the first joint investments. Chargel, which utilises technology to streamline operations in the logistics sector, has successfully raised $2.5 million in seed funding. This investment exemplifies the partners’ dedication to supporting companies that contribute to youth wellbeing by improving the working conditions of young Senegalese truck drivers.
To bolster the mandate and drive its mission forward, Cyrine Ben Fadhel has joined Seedstars as an Investment Manager. With her extensive venture capital experience from previous roles at Lateral Frontiers Capital and Global Ventures, Cyrine will play a vital role in identifying and scaling innovative companies across the African continent.
For more information about Seedstars Youth Wellbeing Ventures, interested parties can visit the initiative’s website. The launch of this mandate marks an important step in addressing the challenges faced by young people in Africa while promoting sustainable development and positive change throughout the continent.
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