Newly Launched Ampion Ventures to Invest in Startups in Nigeria and Other African Countries
Plutos Ventures has partnered with Ampion to launched Ampion Ventures, a VC fund aimed at providing seed capital and strategic expertise support to selected African tech startups. African startups can get up to six-digit funding with Ampion Ventures
VC firm, Plutos Ventures Holding will provide Ampion Ventures with its first seed financing. Though the amount is undisclosed, this seed financing would allow the VC fund to provide “up to six-digit (dollar) funding” to the selected pre-seed and early-stage ventures.
“With Plutos Ventures, we’re pleased to have an experienced investor on board who will support Ampion strategically in addition to providing capital.”Fabian-Carlos Guhl, Director Ampion Ventures
The fund is looking to invest in firms operating in “key economies” on the continent such as in Nigeria and Kenya. However, it will also be considering smaller countries with hubs to conduct a pilot test for new models like Rwanda.
Ampion Ventures will specifically focus on agritech, energy and fintech for its first cohort.
Ampion is no new comer in startup funding in Africa. Buoyed by its partnership with MTN, SAP, Merk, Microsoft and several other international development institutions, the startup has supported over 80 startups in 16 African countries over the past 6 years. One of their many successful investments is Nigerian fintech startup, Accounteer.
Funding is very important, most especially for new/early stage startups. This is because they require the funds to make research, produce and bring new products to the market. Hence the need for more venture capitals like Ampion Ventures. And the Nigerian startup ecosystem’s growth in recent times has presented plenty of opportunities for VC firms.
Several VC firms, both local and foreign, are focused in Nigeria and are identifying innovation from different areas of the startup ecosystem making several investments across the country and having many startups in their portfolios.
According to the funding report by Disrupt Africa for 2018, 58 Nigerian startups raised $94.9 million in funding. This was said to be the highest of any country on the continent.
Interested startups with an African focus can now apply to Ampion Ventures for funding.
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