Entrepreneurs in Africa and across other emerging markets can smile as a new $50 million venture fund has been launched to help identify and invest in top startups on the continent in various sectors including fintech, edtech, agriculture, health, among others. These find aims to help build innovation and entrepreneurship for startups in Africa and around the world.
This venture fund aims to host a series of startup conferences and competitions across Africa and globally to bring together phenomenal startups, VCs, and world-class tech CEOs. Top startups will be picked in Africa and worldwide and compete at regional events, and the regional finalists will showcase themselves at the Grand Finale event in San Francisco and compete for a US$1,000,000 investment prize.
Startup World Cup’s $50 million fund will invest in the most promising winners of the regional and global competition. The fund is open to “accredited investors” and will be managed by Fenox Venture Capital. The fund will invest at least $1 million in the Grand Finale winner, plus it will make additional investments in the best companies surfaced by the competition.
“Together with our global partners, we put a major effort into attracting the most promising startup companies from around the world to compete in the Startup World Cup,” said Anis Uzzaman, General Partner and CEO of Fenox Venture Capital. “The goal of the Startup World Cup Fund is to support the best of these companies and to give our investors access to high-potential startups that they would not be able to invest in otherwise.”
In May 2018, the Grand Finale brought together 28 regional startup winners, keynote speakers and venture capitalist judges for a full day conference and competition in San Francisco with:
– 1,000+ attendees
– Top startups from 28 different countries from North America, South America, Europe, Africa, Asia and Australia.
– 200+ journalists
– Events including workshops, startup showcase sessions, and networking party.
For more information about the Startup World Cup Fund, please contact Coco He at [email protected].