Seedstars Capital and Fondation Botnar have announced the launch of the Seedstars Youth Wellbeing Ventures mandate, intending to invest US$20 million in early-stage, purpose-driven companies aiming to improve the wellbeing of young people in low- and middle-income countries across the continent. Seedstars Youth Wellbeing Ventures will act as a catalyst for additional capital into the continent and is expected to co-invest alongside like-minded investors. “Our partnership with Fondation Botnar will combine our strengths and resources to drive meaningful impact in emerging markets,” said Benjamin Langer, partner at Seedstars Capital. The partnership between Seedstars and Fondation Botnar has already begun making strides in Africa, with one of their first joint investments being Chargel, a Senegal-based logistics technology company. The venture, which uses technology to streamline operations in the fragmented logistics sector, has successfully raised US$2.5 million in seed funding.

Source: The North Africa Journal June 21, 2023 18:01 UTC