TLDR:
- OpenseedVC secures first close of $10 million fund to back operator-led startups in Africa and Europe.
- The firm focuses on providing early-stage funding, mentorship, and a commitment to diversity in its investments.
OpenseedVC, a new early-stage venture capital firm, has secured the first close of its $10 million fund. The firm focuses on backing startups launched by experienced operators in Africa and Europe. This focus on operator-led ventures reflects a growing trend in the VC landscape, with the belief that founders with deep industry experience have a higher chance of success. OpenseedVC plans to invest in at least 60 startups over the next five years, offering seed funding of up to $150,000 to startups in sectors like future of commerce, future of work, and digital health.
OpenseedVC goes beyond simply providing capital. The firm aims to support startups with female co-founders, seeking a 50/50 balance in co-founding teams. This commitment to diversity aligns with a broader trend of increasing female-led VC firms globally. OpenseedVC has already made two investments, one in an AI-powered supplier dispute resolution software company and another in Intron, a speech-to-text transcription model focused on underserved accents, starting with Africa.
OpenseedVC is spearheading the operator-centric approach in regions where this model has seen less adoption compared to Silicon Valley. By providing early-stage funding, mentorship from experienced operators, and a commitment to diversity, OpenseedVC positions itself to play a significant role in fostering successful startups in these growing tech ecosystems. The coming years will reveal how effective the operator-centric approach is in identifying and supporting high-growth startups in Africa and Europe.
