Kauffman Fellows’ Post

R300-million seed fund launched for tech start-ups in South Africa! A new, R300-million fund has been launched to invest seed capital in promising tech start-ups in South Africa. Called the Seed Fund of Funds, the new initiative is backed by the SA SME Fund, the department of science & innovation and its entity the Technology Innovation Agency (TIA), and “impact investor” E Squared Investments. The fund will exclusively provide early-stage capital funding to local start-ups. “This initiative aims to fund at least 50 technology-driven startups through experienced fund managers, with a focus on innovation and transformation in South Africa,” the parties said in a statement on Tuesday. Ketso Gordhan CEO of the SA SME Fund, said in a statement that seed funding is the “cornerstone of entrepreneurial success and the lifeblood of innovation without which many great ideas would never see the light of day”. “South Africa has no shortage of brilliant minds, and this fund will ensure that more of them have the resources they need to succeed. Our goal is to make sure these companies have a fair chance at success and scale in the local and global markets,” said Gordhan. The founding parties said early-stage funding is a major gap in South Africa, where the venture capital ecosystem has historically attracted the lion’s share of investment into start-ups. “Governments across the globe play a crucial role in fostering innovation ecosystems, and South Africa is no different. The partnership with the SA SME Fund aims to bolster funds towards start-ups and SMMEs through a fund of funds approach. We understand that early-stage ventures, especially those grounded in technology, need a supportive environment to thrive,” said TIA acting CEO Patrick Krappie in the statement. “The Seed Fund of Funds will catalyse a wave of new start-ups by enabling them to transition from ideas to viable enterprises. This presents an opportunity for the fund to play a catalytic role in developing the country’s seed-stage funding ecosystem, building the foundations that will deepen investment into the innovation economy and placing the venture capital industry on sustainable footing for the future.” #venturecapital #startups #seedfunding https://lnkd.in/g82MNbfP

Amid the slowdown in investment across the African continent, certain investors and venture capitalists continue to display strong interest. Notably, Launch Africa, Techstars, and 54 Collective remain active players. This insight comes from a new report by Africa-focused tech startup analytics firm, Africa the Big Deal. The report highlights that 286 investors participated in at least one deal worth $100,000 or more during the first half of 2024. This marks a significant decline from the 393 investors involved in the same period last year and the 698 VCs that participated in the first half of 2022. Among these 286 VCs, only eight were involved in five or more deals. These include Launch Africa, Techstars, 54 Collective (formerly Founders Factory Africa), Catalyst Fund, Renew Capital, Y Combinator, DFC, and Baobab Network. Launch Africa stood out as the most active VC, having been involved in 12 deals during the first half of the year. Founded in 2020 by Zachariah George and Janade Du Plessis, Launch Africa positions itself as a leading Pan-African VC fund, addressing the substantial funding gap in Seed and pre-Series A investments across Africa. The firm supports startups across various sectors, regions, and products, focusing on solving key challenges on the continent. Launch Africa’s first fund raised over $36 million, with $31 million already invested in 133 startups across 22 countries. “After a period of relative quiet in 2023, between the closing of their Seed Fund I and the raising of Seed Fund II, the team signed deals at an impressive rate—nearly one every other week in the first half of 2024. If they continue at this pace, they are on track to match or even exceed the 19 deals they completed in 2023,” the report stated. Techstars, 54 Collective, and other key investors Techstars ranked as the second-most active investor in Africa during H1 2024, with nine deals. This follows an impressive 56 deals completed by the VC in 2023, averaging more than one per week, making it the most active investor on the continent last year. The nine deals represent 32% of the total 28 deals Techstars closed in the first half of 2023. Techstars, a leading pre-seed venture capital firm, invests in a diverse, global pool of entrepreneurs and high-growth companies. The firm recently launched the 2024 edition of its accelerator program in collaboration with Labs by ARMS. 54 Collective (formerly Founders Factory Africa), Catalyst Fund, and Renew Capital followed, each involved in seven deals. 54 Collective provides early-stage startups with a platform to build without boundaries. Founded in 2018 by Bongani Sithole, the firm empowers entrepreneurs across Africa’s varied markets through a dynamic investment strategy, supported by local teams offering hands-on venture support. The company’s rebranding from Founders Factory Africa reflects its ambition to offer local startups a more global outlook. Catalyst Fund is a thesis-driven VC fund and accelerator th

VCLink's Weekly Investor Fundraise Report: 1. Kristina Burow's ARCH Venture Partners has raised over $3 billion for its 13th fund. The fund will continue investing primarily in biotech startups, focusing on AI-driven biotech innovations such as Xaira Therapeutics. https://lnkd.in/ep_9EdeH 2. DCVC Bio has raised $400 million for its third fund, surpassing its initial $350 million target. The fund will focus on backing pioneering biotech startups while staying clear of overhyped sectors like AI. https://lnkd.in/ecikfudU 3. Thierry Laugel's Kurma Partners closes EUR 140 million ($150.89 million) in the first phase of its fourth fund, Biofund IV. The announced fund received funding from Eurazeo, Bpifrance, and CSL. The fund will invest in innovative therapeutics, focusing on bridging the gap between academia and industry. https://lnkd.in/dtBdRtaz 4. Appalla Saikiran's Scope has launched a $50 million venture capital fund for investing in fintech startups in India and gaming startups in the US. The fund targets early-stage companies and offers mentorship and strategic resources akin to the Y Combinator model. https://lnkd.in/emp7AF3F 5. John Hartnett and the team at Kagome Co., Ltd. have launched a $50 million corporate venture capital fund, Sunrise Agrifood Tech Fund, aimed at early-stage agritech startups. The fund will focus on addressing climate change challenges through innovations in sustainable agriculture. https://lnkd.in/ebAG7HjR 6. Roger Havenith of European Investment Fund (EIF) and Bence Katona of NCH have launched the €40M ($42.4M) Impact Ventures III fund. The fund will invest in early-stage startups and SMEs focusing on social and environmental impact across sectors like clean energy and medtech. https://lnkd.in/eHaEH-S9 7. Ghanshyam Ahuja and Mayank Jain's ThinKuvate have announced the first close of their India fund at INR 25 crore ($3.006 million). The fund will invest in early-stage startups and has already made investments in Pantherun Technologies , NymbleUp, RoshAi, and Zippee. https://lnkd.in/evRVS2QD

Angel investors, you fuel startup innovation. Find a founder and startup that passes your “Wizard of Oz” test. This key message from Chris Danek’s recent Investment Immersion Summit panel discussion builds on his keynote, which stated that angels are as crucial to startups as founders. Chris advised angels to put their brains, hearts, and courage to work with observations and insights in the panel “Raising Capital from Angel Investors: Founder's Perspective.” ➢ Heart: Find a founder and startup with a vision that fits you.  As Beto Pallares shared, startup investors are out to change the world. This happens through the impact of the innovations they develop and the economic engine of startups. ➢ Brain: Ensure you’re convinced the opportunity, solution, and team are worth an investment and that the deal is structured correctly for the startup, founders, and investors. And make sure your brain and intuition (gut) agree! There is no penalty for passing on an investment. Many startups are NOT investable, and those that are may not be right for you. Spend enough time with the team to build trust among the startup team and between angels and founders. Take the time to establish your trust in the character and competence of the team. ➢ Courage: Angels fuel startup innovation.  It takes courage to invest, and founders are counting on you to fill a void left by venture capital investors. Be courageous but not reckless: make sure your investment amount takes risk and the need for later-round investments into account. Consider Investing through an angel group. This is a great way to increase your confidence in diligence, evaluate deal structure, and potentially ensure access to additional investment in later rounds. This call for angels to fill a vacuum in #medicaldevice investing left by venture investors is clear in HSBC Innovation Banking’s recent report on healthcare venture investing. (LINK in comments). With the current #PoweredbyBessel cohort, Jonathan Norris shared his insights that financings for clinical-stage PMA and commercial-stage 510K companies are heating up. From the report summary: “Overall, PMA pivotal trial and 510(k) commercialization rounds attracted capital from VC, growth, crossovers, and corporates. In 2023, one in three investor-led Series B and later ned device deals experienced down rounds, which declined to 20% in 1H 2024.” Despite this encouraging trend, earlier-stage venture financings still remain exceedingly hard to secure. Carefully made angel investments will fuel innovations too early for venture capital support. Thanks to the participating angel investors for interaction and insights, and to the Hunt Center for Entrepreneurship, Carlos Murguia Maximo Gamez, and Beto Pallares for organizing this excellent program. Arrowhead Center at NMSU #angelinvesting #Startups #Entrepreneurship

Weekly Column: Italy's Venture Capital Scene We are thrilled to launch the second edition of our weekly column from Chatwin Ventures, driven by Giancarlo Vergine and Enrico Quaroni, partners at Chatwin Ventures and well-known players in the Italian ecosystem. This initiative aims to provide entrepreneurs and tech founders with deeper insights into Italy's venture capital landscape. Our featured venture capital firm this week is P101. Based in Milan and founded in 2013, P101 is a prominent player in the Italian VC space. Here are some key highlights: ✔ Investment Thesis: P101 supports founders who are designing a different future through technology. ✔ Capital: Focused on early-stage investments with entry tickets from €1M to €5M, P101 reserves substantial follow-on capital to support growth through different phases. ✔ Network: Connects portfolio companies to a valuable network within the Italian and international innovation ecosystems. ✔ Business Development: Assists in designing growth strategies, improving ESG performance, and supporting crucial decisions. ✔ Skills: Provides expertise as venture capitalists and entrepreneurs, offering access to a wide network of successful digital entrepreneurs. ✔ Operating Advisory: Through strategic consultants, CEOs, and VPs, P101 helps scale and support portfolio companies. ✔ Stages: Early Stage and Growth Stage investments. ✔ Ticket Size: €500K to €5M. ✔ Geography: Italy and Southern Europe. ✔ Assets Under Management: €400 million across five funds. ✔ Managing Partners: Andrea Di Camillo and Giuseppe Donvito. ✔ Recent Investments: May 30, 2024: Seed Round - Carol (€4.9M) May 6, 2024: Venture Round - Loquis (€3.8M) Mar 25, 2024: Seed Round - DataKrypto (€3M) Nov 28, 2023: Venture Round - Soplaya ✔ Portfolio Stars: Musixmatch, Tannico, Cortilia, Casavo. ✔ Notable Exits: ContactLab, Musement, Talent Garden. Since 2013, P101 has championed the entrepreneurial spirit of the bravest innovators, accompanying them from early stage to exit through all phases of growth. Today, they invest in the Series A and B stages of digital companies, supporting and advising founders committed to becoming market leaders. P101 is a long-term partner: your challenges are their challenges throughout the journey to success 💪 Join us as we continue to explore the vibrant and dynamic world of Italian venture capital. Stay tuned for our next post! 👉 For more information, visit: P101 #VentureCapital #Italy #Entrepreneurship #TechFounders #ChatwinVentures #Investment #Startups #Innovation #P101

Here are 15 free investor lists: 1) VC Fund Database for Early-Stage Startups by Shai Goldman: A critical resource for startups at their initial phase seeking venture capital. https://lnkd.in/e6U8BdTF 2) No Warm Intro Required Investor List: This list facilitates direct connections with investors, eliminating the need for a prior introduction. https://lnkd.in/eiPSF6zC 3) Active VCs List: An updated directory of venture capitalists currently looking for investment opportunities. https://lnkd.in/eu_8efMq 4) Active Pre-Seed Investors: Dedicated to investors focusing on the Pre-Seed stage, helping early startups find their first investors. https://lnkd.in/eusdUdMz 5) The Ultimate List of 750+ Seed Funds by Matt Estes: An extensive collection of seed funds, a valuable tool for seed-stage startups. https://lnkd.in/e-9ui7VQ 6) US Founders Who Invest in Others as Angels: A list showcasing US founders willing to invest in other startups, fostering a culture of support. https://lnkd.in/eu3fUe4T 7) SaaS Angel Investors: A global list of angel investors with a specific interest in Software as a Service (SaaS) startups. https://lnkd.in/e-gdcAdT 8) List of Family Offices Investing Pre-Seed: Early-stage startups can find family offices interested in Pre-Seed investments here. https://lnkd.in/e-p5rjiv 9) US Women Angels List by Lolita Taub: Highlights female angel investors in the US, promoting gender diversity in investment. https://lnkd.in/eJr3JgEr 10) New VC Funds at / Below $200M in Size by Shai Goldman: Focuses on smaller, more agile VC funds ready for new ventures. https://lnkd.in/e4XsiqE4 11) Investors, Accelerators, and Resources for Underrepresented Founders by Anna Phan: Aims to increase diversity by supporting underrepresented founders. https://lnkd.in/eNDNhkvY 12) 4WARD VC Ultimate Climate Investor List: For those innovating in the climate sector, this list connects them with interested investors. https://lnkd.in/eVmcg_Vf 13) Angel Investors from Diverse Backgrounds: Promotes diversity among angel investors, encouraging a variety of perspectives in investing. https://lnkd.in/ezDgeY9N 14) Active Investor List by Trace Cohen (398+ Angels): Over 398 angels are listed as actively looking for new investment opportunities. https://lnkd.in/eVxCKWQg 15) Mountside Ventures’ List of Angel Networks: Offers a comprehensive network of angel investors, enhancing connectivity between startups and potential investors. https://lnkd.in/dffESKGN For a winning pitch deck, take a look at the template created by Silicon Valley legend, Peter Thiel https://lnkd.in/ejp-Bhnu #entrepreneurs #entrepreneurship #entrepreneur #business #success #venture #venturecapital #investment #invest #investors #tech #technology #innovation #leanstartup #leanstartups #inspiration #startup #startups

Here's the MENA VC and Investments news you missed out on last week 👇 🤝 New Fund 🇪🇬 Egypt-based Sawari Ventures is set to launch its second fund, “Sawari Ventures II,” in early 2025, aiming to raise $200 million, with $140 million earmarked for Egyptian startups over the next 4-5 years, primarily supporting Series A and B stages, alongside seed investments. Founded by Ahmed El Alfi, Hany Al-Sonbaty, and Wael Amin, Sawari currently manages a $69 million Egypt-focused fund and a $71 million North Africa-focused fund, backing over 30 companies like Swvl and Instabug. Sawari also co-founded Flat6Labs, a major MENA accelerator supporting over 500 startups. The new fund will include an Egypt-focused component to mobilise local capital and an international fund to attract foreign investment for startups across Egypt, Tunisia, Morocco, Kenya, and West Africa, with priorities in fintech, edtech, healthtech, cleantech, and deeptech. 🌍 Global Investments 🇵🇰 COLABS, a Pakistani workspace platform, has raised $2 million in pre-Series A funding led by Shorooq Partners, with Waad Investment also participating. This brings the company’s total funding to over $5 million. Colabs plans to use the funds to expand into Saudi Arabia, where it has already completed its registration. Founded in 2019 by Omar Shah and Ali Shah, Colabs operates 10 locations with 5,000+ seats, serving clients like EY, Coca-Cola, and Endeavour. The company has also partnered with the Pakistan Air Force to support tech companies in the aerospace sector. 🇬🇧 Salica Investments’ Oryx Fund has invested in Neuphonic’s $3M pre-seed round, alongside Moonfire, Tiny VC, and Cur8 Capital. Neuphonic is building a ultra low latency text-to-speech system to create the most natural, responsive conversations with AI possible. The investment will support Neuphonic’s expansion into the GCC, where its technology will address the region’s diverse linguistic needs. The startup was founded by Sohaib A. and Jiameng Gao, earlier this year. 🤝 New LPs 🇯🇴🇸🇦 Riyadh-based Rua Growth Fund I LP has received a $5 million investment from Jordan’s ISSFJO - Innovative Startups and SMEs Fund to support local startups. Managing Partner Turki Aljoaib highlighted that the fund targets sectors such as marketplaces, fintech, enterprise solutions, and SaaS. The investment strengthens RUA’s strategy of investing in early-stage and growth-stage companies, and will look to further bridge opportunities between Jordan and Saudi Arabia. This marks ISSF’s sixth investment this year, following backing for MSA Novo’s MENA Fund, Propeller Ventures II, and Global Ventures' Fund III. *************************** 🐢 Get a weekly MENA VC and investments roundup, as well as the most interesting startup and tech stories from the region, direct to your inbox twice a week: https://lnkd.in/eVbWNJNp 📥 #mena #startups #vcfunding #uae #saudi #egypt

Tougher times in startup financing - but there are also good news: biotech and early-stage investments are on the rise. Learn more in the latest update of the Swiss Venture Capital Report 2024, published by Startupticker.ch, SECA - Swiss Private Equity & Corporate Finance Association, and Startup.ch: https://lnkd.in/ek7uNCKk #SwissStartups #VentureCapital #Switzerland

The Demo Day of our Acceleration is approaching, which means it's time to tell you who will evaluate our startups ☝️ We have invited investors from the best funds in Ukraine to provide quality feedback to our startups and decide who will receive a non-equity investment of 💰 $25k from YEP and u.ventures. 🔹 Anton Waschuk, Director of innovation, education and entrepreneurship at Ukraine-Moldova American Enterprise Fund 🔸 Oleksandr Yatsenko 🇺🇦, Principal at SMOK Ventures 🔹 Andrew Zinchuk, Founder and bizdev leader at ZAS Ventures 🔸 Anton Vaisburd, General Partner at SID Venture Partners 🔹 Kirill Kirikov, General Partner at SID Venture Partners 🔸 Ivan Petrenko, Managing Partner at Angel One 🔹 Petro Sovyak-Krukovskyy, Investment Professional at Vesna Capital 🔸 Maksym Strukov, Investment Associate at Geek Ventures 🔹 Vlad Tislenko, Partner at SMRK VC 🔸 Oleh Karizskyi, Investment manager at Flyer One Ventures For the participants of our Acceleration, this list is truly impressive, as the opportunity to communicate directly with the country's top funds is very valuable for them. Therefore, we are grateful to the investors for their commitment and look forward to meeting them! We will publish all the details of the Demo Day very soon 😉 📌 The YEP Acceleration is supported by the Ukraine-Moldova American Enterprise Fund, which supports initiatives to promote reforms in Ukraine and transformational projects. Program partners: USAID Competitive Economy Program in Ukraine (USAID CEP), Ukrainian Startup Fund, Cisco, Genesis Tech.