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.
