December 5, 2023

seed capital and the Swiss Charity Foundation Bertner Foundation Launched Seedstars Youth Wellbeing Ventures, a $20 million investment mandate targeting early-stage startups in Africa focused on improving the wellbeing of those under 30 in low- and middle-income countries.

The Evergreen Fund will support pre-seed investments in Series A startups, including those promoting health care delivery, environmental sustainability and ecological resilience (such as access to clean energy), local food security, water and sanitation, waste management, affordable housing , employment opportunities and safe and sustainable transport in Tanzania, Ghana, Senegal, Morocco and Egypt.

Seedstars told TechCrunch that the grant will provide an initial capital of $250,000 and follow-on investments of up to $750,000. It plans to invest in at least seven startups each year for the next five years.

Seedstars Youth Wellbeing Ventures will co-invest with like-minded investors, hoping to encourage more capital to flow into Africa. In addition to its network of co-investors, it will identify, invest in and scale up start-ups that have the potential to transform the lives of young people in its target market.

“If we compare developed countries with emerging markets, there is a major gap in the well-being of young people. Our aim is to transform cities by creating inclusive urban environments and systems that are truly fit and ready The transformative power of support for the health and wellbeing of young people living in emerging markets,” said Benjamin Lange, partner at Seedstars Capital, an alternative investment platform launched last year to support new fund managers in emerging and frontier markets.

Langer added, “By investing in purpose-relevant venture-backed companies, we can accelerate our targeted outcomes to improve the wellbeing of young people in emerging markets. We are combining ‘accelerate’ with a number of other actions our partners are pursuing.” comparisons, such as grants or donations in emerging markets.”

Seedstars and Fondation Botnar have made their first joint investment in Senegal-based logistics startup Chargel, which matches shippers with transporters. In addition to being a platform for large truck fleet owners, Chargel brings independent shippers together, giving them new money-making opportunities.

Commenting on the launch of the Wellbeing Ventures mission, Antoine Veyrassat, Fondation Botnar’s Head of Philanthropic Ventures, said: “Fondation Botnar is delighted to join Seedstars to support companies that are making a difference.”

“Our shared commitment to improving the health and wellbeing of young people is highly aligned with our investment strategy of taking a market-based approach to philanthropy, in addition to our other philanthropic funding, especially with rapid urbanization and increasing More young people living in cities present unique challenges and opportunities,” Veyrassat said.

Fondation Botnar works to improve the health and wellbeing of young people in urban areas around the world.

Seedstars Youth Wellbeing Ventures joins a growing list of funds under Seedstars Group, an accelerator and venture capital firm active in more than 30 emerging markets around the world. Its other funds include Seedstars International Ventures I (SIV I), its first global fund targeting emerging markets, with a focus on pre-seed stages; and SIV II, a fund launched last year in partnership with Patricia Sosrodjojo, targeting emerging markets 100 Startups; and Seedstars Africa Ventures, a pan-African early-stage fund.

It also adds to a growing number of purpose-driven funds recently launched in Africa, including pan-African venture capital firm Novastar’s African + Earth Fund, which has raised more than $200 million to invest in developing agricultural and climate solutions Startup Continental, another startup launched by climate tech VC Equator, aims to mitigate the effects of climate change.