Source: Victoria Fakiya/ Techpoint
Seedstars Capital and a Swiss philanthropic foundation, Fondation Botnar, have launched Seedstars Youth Wellbeing Ventures.
By investing in early-stage African startups, Youth Wellbeing Ventures, a $20 million fund, seeks to improve the well-being of people under 30 in low- and middle-income countries.
These countries include Tanzania, Ghana, Senegal, Morocco, and Egypt.
The fund will support pre-seed to Series A startups that improve health services, environmental sustainability and ecological resilience, local food security, water and sanitation, waste management, affordable housing, access to employment, and secure and environmentally friendly transportation.
The fund will invest $250,000 in the beginning and up to $750,000 in subsequent investments. It plans to invest in at least seven startups yearly over the next five years.
Seedstars Youth Wellbeing Ventures will co-invest with other like-minded investors to encourage increased investment in Africa.
With the help of its co-investor network, it will identify, invest in, and scale startups with the potential to improve the lives of young people in its target markets.
Partner at Seedstars Capital, Benjamin Langer, says there is a significant difference between the well-being of young people in developed and developing markets.
Consequently, their objective is to use the transformative power of digital technology to transform cities by building inclusive urban environments and systems that are prepared to support the health and well-being of the young people who reside in emerging markets.
Langer says they can achieve their goal by enhancing the well-being of young people in emerging markets by investing in purpose-related venture-backed businesses.
What’s more, Seedstars Capital is an alternative investment platform launched in 2022 to back new fund managers in emerging and frontier markets.
Source: Victoria Fakiya/ Techpoint
