Investing in Tech start-ups that rely on internet access and mobile service use to connect and distribute their products, Private seed fund 88mph will launch officially in Nigeria early this year.
Currently, based in Nairobi and Cape Town where accelerator programs take place, the company will now expand its operations to West Africa looking to invest in 7 to 10 start-ups having Nigeria top the chat in mobile penetration market in Africa among Kenya, South Africa and Ghana.
88mph has already invested in a Nigerian based startup; Gamesole a game company with over 1.2 million downloads on Microsoft platform. Looking to invest in more start-ups, the companies are expected to fill an application of 20 questions, followed by a meeting schedule with the applicant.
The fund has so far invested over $2million in start-ups both in South Africa and Nairobi with up to $100k per start-up in it add of value by providing advice on products to-go-market, sales, company structure, hiring, funding options, scalability and wide range exposure.
Cape Town’s second programme is underway after closing on applications- 31December 2013 and will commence the three-month accelerator programme on 3rd February.