TLDR:
OpenseedVC, a newly launched venture capital firm, has reached the first close of its $10 million early-stage fund, focusing on sectors such as AI, B2B software, fintech, health, and workplace technologies. General Partner Maria Rotilu aims to back 60 ventures over a 5-year deployment period, providing $150,000 in starter checks and access to industry experts.
Full Article:
OpenseedVC has achieved the first close of its $10 million European-African fund, marking a milestone for tech startups in Europe and Africa. Led by Founder and General Partner Maria Rotilu, the fund’s investment strategy is concentrated on sectors like B2B software, AI, fintech, health, and work technologies. Rotilu is Europe’s first Black solo GP and one of the first females in her field.
OpenseedVC plans to become an initial investor for experienced operators launching new ventures, offering them capital and expertise to foster innovation. The fund will provide each startup with up to $150,000 in starter checks and connect them with over 50 industry experts. Checks written by OpenseedVC alongside angels or family and friends aim for a 5% stake in each startup. The fund intends to support around 60 ventures over a 5-year period, without making follow-on investments.
Maria Rotilu, with experience in scaling tech services and investment, believes in supporting operators with domain expertise and innovative ideas. She emphasizes the importance of vision, execution, scaling, team-building, and problem-solving skills in building successful tech startups. OpenseedVC’s launch comes at a time of challenging fundraising climate, especially in early-stage equity funding across the globe.
Overall, OpenseedVC’s approach aligns with the United Nations’ Sustainable Development Goals and responds to the growing need for funding and expertise in the tech industry. The fund’s focus on supporting operators with unique insights and skills is timely, as founders and employees from successful ventures are entering the startup scene and driving innovation in tech.
