Tech

Early-stage venture capital fund OpenseedVC debuts with first closure of $10 million.

With the announcement of the first close of its US$10 million angel-style early stage fund, OpenseedVC, a new operator-led fund aiming to be first investors in seasoned operators beginning innovative firms across Africa and Europe, has officially started.

Supported by LPs including founders, operators, and HNIs in the US, Europe, and Africa, the OpenseedVC fund will provide operators launching tech businesses with access to its extensive network of over 50 seasoned specialists and up to US$150,000 in initial checks.

With the intention of coordinating the portfolio’s inherent impact with the UN Sustainable Development Goals (SDGs), its primary areas of investment will include the future of work, B2B software, AI, fintech, health, and commerce. OpenseedVC has already made its first two investments: one in a speech-to-text transcription model for underrepresented accents, starting with Africa, and the other in an artificial intelligence (AI) enabled supplier dispute resolution program in the United Kingdom (UK).

“As an operator, and investor, I have encountered incredibly talented and experienced operators, and the challenges faced as they try to launch their startups. Operators have the advantage of domain expertise, and unique insight into large problems that can be tackled with innovative technology. Those who are visionaries coupled with the ability to execute, scale, build teams and have the grit required to solve difficult problems – these skills, especially in the current market, are highly relevant to building technology start-ups that solve real problems, and create scalable value for the global economy and our investors. The experience seasoned operators bring in terms of business building, combined with the dynamism and hustle that founders possess, is the focus for OpenseedVC,” said general partner Maria Rotilu.

“The current difficult fundraising climate is especially harsh for early-stage founders, but we believe incredible companies are born in the most difficult macroeconomic climates. We want to be first believers in these experienced operators to give a great head start, with capital and an extensive operator network that support from start to launch of their technology companies.”

Startups who are interested should visit the OpenseedVC website to learn more and apply at this time.

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