Investment firm Ring Capital, renowned for its "Generations" seed impact fund, ventures deeper into Africa with the launch of Ring Africa. This dedicated impact investment vehicle focuses on Francophone West Africa, aiming to bridge the gap in available funding for the region.
Africa's economic potential is undeniable, with a projected growth rate of 5.2% in 2023. However, only 8% of funds raised on the continent reach Francophone Africa. Ring Capital strategically addresses this disparity by establishing a local office in Abidjan and forming a dedicated investment team.
"By establishing a physical presence in Africa, Ring Capital aims to empower startups by facilitating access to capital," explains Nicolas Celier, co-founder of Ring Capital. "We are committed to cultivating entrepreneurial ventures that develop transformative solutions for the continent's future."
The €50 million Ring Africa fund targets early-stage startups tackling critical African challenges:
Formalizing the informal economy
Enhancing Climate Change Adaptation Efforts
Promoting sustainable development in agriculture and consumption patterns
The fund further emphasizes actively supporting the next generation of entrepreneurs and fostering gender diversity within the entrepreneurial landscape.
To seamlessly integrate into the African startup ecosystem and identify high-impact projects, Ring Africa partners with Mstudio, a Francophone studio that provides mentorship and funding to startups over 18 months.
Furthermore, Ring Capital announced the appointment of Elisabeth Moreno, former French Minister Delegate for Gender Equality, Diversity, and Equal Opportunities, as the Chair of its Board of Directors. Moreno's extensive experience in the African entrepreneurial ecosystem and dedication to inclusion and impact make her a valuable asset, offering unique perspectives to support Ring Capital's growth and Ring Africa's development.
"We are thrilled to welcome such a prominent and engaged individual," says Nicolas Celier. "With Elisabeth Moreno's guidance, we will accelerate our impact initiatives, aligning with our commitment to environmental sustainability, gender diversity, and inclusion."
Ring Africa's launch signifies Ring Capital's dedication to fostering impact entrepreneurship in Francophone West Africa. By empowering startups to address critical challenges and contribute to a brighter future for the region, Ring Africa positions itself as a key player in driving positive change.
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