OpenseedVC, an operator-led venture capital firm, has achieved the first close of its early-stage fund, securing $10 million in capital. Spearheaded by General Partner Maria Rotilu, the firm aims to support tech startups across Europe and Africa.
With a focus on sectors including B2B software, AI, fintech, health, and workplace technologies, OpenseedVC intends to provide essential capital and expertise to emerging ventures. Maria Rotilu, Europe’s first Black solo GP, brings a wealth of experience to the role, having previously scaled tech services like Cuber and Branch, and worked with Octopus Ventures.
The fund's investment strategy aligns with the United Nations' Sustainable Development Goals, aiming to address significant challenges through innovative technology. Each startup will receive up to $150,000 in initial funding and gain access to a network of over 50 industry experts.
OpenseedVC's approach includes writing checks for approximately 5% equity alongside angels or family and friends, with plans to support around 60 ventures over five years. Notably, the fund will not make follow-on investments.
Maria Rotilu emphasizes the importance of backing visionary operators who possess the skills to execute, scale, and solve complex problems. She notes the critical role these individuals play in building technology startups that drive real-world impact and economic value.
OpenseedVC's launch is well-timed, offering much-needed support to a sector experiencing a decline in early-stage equity funding, particularly in Africa. Moreover, the emergence of startup alumni from companies like Andela, Paystack, and Flutterwave underscores the increasing entrepreneurial activity within the ecosystem.
Editor's Note: OpenseedVC's commitment to supporting underrepresented founders and its strategic focus on impactful sectors positions it as a significant player in fostering innovation and growth across Europe and Africa.
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