More
    HomeEcosystem NewsVenture Capital & Funding SourcesRing Capital Launches Ring Africa, a €50 Million Investment Fund for Francophone...

    Ring Capital Launches Ring Africa, a €50 Million Investment Fund for Francophone West African Early Stage Startups

    Published on

    spot_img

    Ring Capital, the investment firm that introduced the “Generations” seed impact fund in collaboration with Edhec in 2023, is expanding its footprint in Africa. The firm is unveiling its impact investment vehicle in Francophone West Africa, named “Ring Africa.” With plans to establish an office in Abidjan alongside a dedicated investment team, the fund aims to raise €50 million to foster the burgeoning impact entrepreneurship in the region.

    Ring Capital’s move into Africa with is strategically aligned with the continent’s potential, boasting a 5.2% growth rate in 2023. However, only 8% of funds raised on the continent find their way to Francophone Africa. Nicolas Celier, co-founder of Ring Capital, states, “By establishing a presence in Africa, Ring Capital aims to support start-ups by facilitating access to capital. The goal is to develop entrepreneurial projects that create transformative solutions for the continent’s future.”

    The Ring Africa fund will focus on early-stage start-ups, investing in solutions addressing African challenges such as the formal economy, climate change adaptation, and sustainable development in agriculture and consumption. Additionally, the fund is committed to actively supporting the new generation of entrepreneurs and promoting gender diversity in entrepreneurship.

    To seamlessly integrate into the African start-up ecosystem and identify high-impact projects, Ring Africa is partnering with the Francophone studio, Mstudio, which provides mentorship and funding to start-ups over an 18-month period.

    Concurrently, Ring Capital announces the appointment of Elisabeth Moreno, former delegate minister for Gender Equality, Diversity, and Equal Opportunities, as the Chair of its board of directors. Moreno’s expertise in the African entrepreneurial ecosystem and her commitment to inclusion and impact make her a key asset for providing innovative insights to support Ring Capital’s growth and the development of Ring Africa.

    “We are thrilled to have a prominent figure of engagement among us. With Elisabeth Moreno, we will accelerate our impact initiatives in line with our commitments to ecology, gender diversity, and inclusion,” enthuses Nicolas Celier, co-founder of Ring Capital.

    Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

    Latest articles

    Pan-African Startup AMAKA Studio Raises $2M Seed Funding to Connect Brands with Content Creators

    The round was led by Equitane (formerly known as the Africa Transformation and Industrialization Fund: ATIF), alongside contributions from Morgan Stanley Inclusive Ventures Lab, Silverbacks Holdings, and a network of angel investors.

    Tunisian Edtech Startup GoMyCode Gains University Status Amid AI Threat 

    The timing of GoMyCode’s transition into an accredited university comes as the global education sector faces increasing uncertainty due to advances in artificial intelligence (AI).

    Dubai’s Global Ventures Sets Sights on Expanding African Startup Portfolio with New Fund

    Global Ventures has previously made notable investments in a variety of African startups, including Kenya's Ilara Health, Egypt's Paymob, Nigeria's Moniepoint. Others include Helium Health, Metro Africa Xpress Inc. (MAX), Elmenus…

    SA’s Scale Raises $700K Pre-Seed to Enable African Fintechs Launch and Manage Card Payments

    The $700,000 in pre-seed funding will allow Scale to accelerate its market entry into three African nations, where the company aims to enable fintechs and other businesses to offer payment solutions that are otherwise challenging to deploy.

    More like this

    Pan-African Startup AMAKA Studio Raises $2M Seed Funding to Connect Brands with Content Creators

    The round was led by Equitane (formerly known as the Africa Transformation and Industrialization Fund: ATIF), alongside contributions from Morgan Stanley Inclusive Ventures Lab, Silverbacks Holdings, and a network of angel investors.

    Tunisian Edtech Startup GoMyCode Gains University Status Amid AI Threat 

    The timing of GoMyCode’s transition into an accredited university comes as the global education sector faces increasing uncertainty due to advances in artificial intelligence (AI).

    Dubai’s Global Ventures Sets Sights on Expanding African Startup Portfolio with New Fund

    Global Ventures has previously made notable investments in a variety of African startups, including Kenya's Ilara Health, Egypt's Paymob, Nigeria's Moniepoint. Others include Helium Health, Metro Africa Xpress Inc. (MAX), Elmenus…