Paris-based VC firm Ring Capital has launched Ring Africa, a $55m fund for early-stage start-ups for French-speaking West Africa.

The fund which has a target size of EUR50 million (US$55 million) is aimed to support early-stage start-ups with a strong social and environmental impact.

Nicolas Celier, co-founder of Ring Capitalsaid,“Africa, which is already experiencing the consequences of climate change and its social repercussions, is simultaneously witnessing the emergence of structural solutions for its future.

According to  Celier, being an impact investor means giving a chance to environmental and social solutions and financing a new generation of entrepreneurs. He expressed his excitement about this launch, stating that it will enable the company to concretely improve living conditions and support a new generation of business leaders.

The fund targets startups at the pre-seed, seed, and Series A stages, and will focus on solutions specific to the African continent’s challenges, including transitioning to the formal economy, adapting to climate change, and developing sustainable agriculture and consumption.

Ring Capital finances and supports entrepreneurs offering solutions to key social and environmental challenges through three investment vehicles and a philanthropic fund.

In 2023,the investment firm launched its impact seed fund, GENERATIONS.