Pledge your interest
About Startup Africa Fund
Startup Africa Fund is a crowd sourcing project that will provide an enabling environment for Africans and friends of Africa to fund innovative and disruptive technology Startups based in Africa through a pool fund.
Conceptualised in August 2012, the fund will serve as a catalyst to spur larger funds specifically targeted at African technology start ups.
This project aims to raise $100,100 from 1001 slots on a monthly basis for the next 5 years. This would be done through a monthly contribution of a minimum of $100 per slot. Individuals are able to pay for more than a slot per month.
1001 slots will be open to interested individuals from August 29, 2012 and will close by November 30, 2012.
The goal is to seed-fund one to four African based startups a month in the range of $25,000 to $100,000. The fund will be managed by a team of trustees and run out of UK or USA or Mauritius to take advantage of strict financial and investment laws. We are still considering the suitable location at this particular moment
- The monthly funding contribution works the same way as conventional co-operatives in Africa.
- This is a private fund, therefore access to this opportunity would close after we have the sufficient pledges from the investors to be.
- We are currently only collecting data to validate the possibility of pulling this off. We would not be collecting any funds at this particular time.
- We are yet to develop the legal / operating framework to support this fund.
- We are still collecting feedback and on the lookout for partners.
- Equity in all the startups we fund.
- Annual dividends from the allocated profit from the startups we fund and the interest earned from the bank reserve.
- The option to cash-out your investment after 5 years.
- Prospectus on all the vetted pitched startups.
- Access to our private Investor's management area.
- Access to all decision logs and quarterly account audits.
- Voting rights for the executive fund management team.
- Access to a team of entreprenuers, lawyers and accountants on Pro-bono.
- The is a private fund, and we would not take any funds until the framework is in place.
- And much more..
JOIN OUR TEAM
We are currently looking for lawyers, accountants and entrepreneurs to help in the building of the legal and financial framework to support this initiative. Pledging your interest does not require you to contribute your money today, but goes in the way to show the possibility of pulling this off. If it interests you to join the team drafting the framework on Pro Bono, please contact us via help[@]startupafricafund.com.
Raising Startup Capital has been the biggest hurdle for Technology based African Startups. I believe we can solve that problem by investing in ourselves. Startup Africa Fund plans to provide the framework and the platform to do just that. Kayode Muyibi, Project Director