Business
Global Founders Capital launches new fund to benefit East Africa’s tech entrepreneurs
Seigel is Global Founders Capital’s founding partner with Oliver Samwer and Marc Samwer. The Samwer brothers co-founded Rocket Internet, an early-stage technology investor based in Germany.
Rocket Internet was an early stage investor in Egypt-based e-commerce company Jumia in 2012. Jumia has since undergone two additional funding rounds with Summit Partners and JP Morgan Asset Management.
Jumia has operations in Nigeria, Egypt, Morocco and Kenya, and focuses on selling consumer products over the Internet.
The new fund will invest anywhere between US$ 130,000 euros and US$13 million. The fund will focus on markets that traditional venture capitalists have tended to ignore, including Africa, South America, the Middle East and Southeast Asia. It will primarily focus on e-commerce solutions.
Global Founders Capital has successfully built companies in the past giving it an edge when it comes to evaluating deals and helping companies grow.
Our passion is to support businesses run by gifted entrepreneurs worldwide,” said the fund in a statement.
Source: The East African
