Oui Capital is a newly launched $10 million venture-capital fund that focuses exclusively on early-stage technology startups in Africa.
The fund name which is pronounced as “We”, Oui – a French word for “Yes” has been launched to bridge the financing gap between high-growth startups and available capital.
The fund is led by the former VP of Investments at Ingressive Capital, Olu Oyinsan, their focus is on pre-series A financing for startups doing work in Fintech, Mobility, Innovative healthcare, Education and Two-sided marketplaces spaces.
“With Oui Capital, we will make funding available for early-stage technology startups on the continent. Africa is undergoing a transformation largely driven by technology—similar to the Asian boom of a decade ago which has created over 200 unicorns to date. It is pertinent that ventures like Oui Capital are available to finance this transformation to create wealth and impact.” Said Olu Oyinsan, Managing Partner, Oui Capital according to this source.
The fund which has AWA Bike and MVXchange in their portfolio will be providing between US$50,000 and US$150,000 early stage investments to a maximum of eight startups per year who are valued below US$5 million.
Olu Oyinsan has partnered with Francesco Andreoli, a Swiss serial entrepreneur, and a TechStars mentor who in his statement also added that the fund combines the solutions to the two most pressing challenges of African entrepreneurs today; access to funding and lack of high-quality mentors/advisors.
In addition to providing capital, the fund will also offer mentorship to the entrepreneurs at no additional cost under an initiative called The Mentor’s Fund.
Interested startups can apply here Pitch for a Yes.
Image Credits: Oui Capital