Pacer Ventures set to solve the funding gap for African Startups
November 12 2020 - 12:00AM
JCN Newswire (English)
JOHANNESBURG & LAGOS, Nov 12, 2020 - (ACN Newswire) - Pacer
Ventures LLC, a venture firm for sub-Saharan Africa, has launched a
$3M fund for early-stage startups, aimed at solving the most
critical problem on the continent. Registered in Delaware, with
operational offices in Lagos and Johannesburg, Pacer VC is focusing
on verticals that are expedient to the African continent, including
healthcare, financial inclusion, education and agriculture.
The UN projects that Africa will have a population of 1.68 billion
people by 2030, while the GSMA Mobile Economy Report states that
84% of Africa's population or 1 billion people will have access to
a SIM connection by 2025.
"We see a huge opportunity to support early stage founders who are
making meaningful contributions to their local economies and
communities by leveraging the high mobile penetration on the
continent," said Gbemi Akande, General Partner at Pacer Ventures.
The firm has already begun to support early stage founders by
participating in seed rounds, including VPD.Money and others.
With an average cheque size of six figures, Pacer Ventures is
positioned to add substantial value to its portfolio companies.
According to Antoinia Norman, General Partner at Pacer Ventures in
charge of Southern Africa, "We won't just write a cheque, we will
enable founders to work in and on their business, by supporting
them along every step of their journey, with resources and access
to markets."
The General Partners of Pacer Ventures have over 30 years of
combined experience in entrepreneurship and start deal flow
sourcing. The key differentiator is the fund's focus on sourcing
high potential African startups, leveraging its strategic
partnership with Founder Institute in Africa as a funnel.
"This collaboration with Founder Institute gives us an undeniable
edge particularly with quality deal-flow at an early stage and we
will leverage this to spread our footprint quickly," said
Chukwuemeka Agbata, Regional Director of Founder Institute in
Africa and Co-founder of techbuild.africa.
Speaking on the Pacer VC investment thesis, Geoffrey Weli-Wosu,
General Partner at Pacer Ventures and Co-Founder of VoguePay and
Domineum, stated, "We are leveraging our in-depth experience in
startups and ecosystem development to take advantage of the
early-stage funding gap in Africa."
About Pacer Ventures LLC
Pacer Ventures is well positioned to support the growth of startups
within Sub-Saharan Africa. A combination of attributes enables our
deal-flow, sourcing and portfolio management which promises
realistic returns to our investors.
Pacer email: info@pacer.vc
Official website: https://pacer.vc/
Pacer blog: https://pacer.vc/blog/
Twitter: https://twitter.com/pacerventures
LinkedIn: www.linkedin.com/company/pacerventures/
Source: Pacer Ventures LLC
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