Nairobi, Kenya. Wednesday, May 22, 2024 – The Ubuntu Foundationcatalyst for the next generation of Africa-focused Fund Managers, today announced a strategic partnership with Mennonite Economic Development Associates (MEDA)a global non-profit organization focused on economic development and entrepreneurship.
As part of the collaboration, the call for nominations to The third cohort of the Ubuntu Launchpad program is now openinviting Africa-focused fund managers to advance their investment approach, optimize fund results and expand their impact.
Details
The Ubuntu Launchpad program, supported by MEDA, equips early-stage fund managers with the necessary tools and expertise to build and operate successful funds in an African context. The 12-month program will provide tailored training, LP engagement opportunities and a collaborative network for knowledge sharing and deal flow.
By catalyzing the energy of the venture capital ecosystem to support fund managers investing in credit funds for the first time, MEDA and Ubuntu ensure that successful participants receive ongoing support. This includes mentoring, fundraising assistance and promoting innovative capital models tailored to the unique needs of African startups.
The scholarship includes sessions from industry professionals such as Lewam Kefela (Partech), Andreata Muforo (TLcom Capital), and Fope Adelowo (Sun).
Zoom out
Since its inception in 2022, the Ubuntu Launchpad Fellowship has successfully run two cohorts, supporting 24 fellows representing 21 funds with a combined Assets Under Management (AUM) target of $281 million. Notable alumni include; Yewande Odumoso (Founding Partner, HoaQ), Aly El Shalakany (Managing Partner, Acasia), Thandeka Xaba (General Partner, Savant) and Emmanuel Adegboye (Head, Madica).
The programme’s commitment to nurturing a vibrant ecosystem of skilled, innovative fund managers continues to make a significant contribution to the business landscape across the continent, highlighted by the achievements of its graduates:
- 58% of the partners are women
- Graduates are based in 8 African countries in Anglophone, Francophone and Arabic-speaking Africa
- Actively invests across Africa, including Egypt, Morocco, Nigeria, Kenya, Tanzania, Uganda, Namibia, Botswana, South Africa, Zambia, Mauritius, Ivory Coast, and Senegal.
The partnership with MEDA will further the Ubuntu Foundation’s mission to empower a thriving ecosystem of African asset managers. Attracting significant investment from both local and international backers, this partnership injects vital capital into a continent where startups remain underfunded but abound with potential.
What they say
“We are excited to join forces with MEDA, an organization that shares our passion for empowering African entrepreneurs and driving economic growth,” he said Wambui KinyaCo-founder of the Ubuntu Foundation.
“This partnership serves as a validation of our successes to date and will greatly enhance our scholarship at Launchpad, providing our partners with unparalleled access to MEDA’s vast network, resources and expertise. “
“MEDA is excited to partner with the Ubuntu Foundation as we must do what it takes now to build a continent of shared prosperity and inclusive sustainable development,” he said Dr. Dorothy Nyambi, President and CEO of MEDA.
“This partnership is vital and represents our shared commitment to strengthening the impact investment ecosystem in Africa by enabling more women to lead investment vehicles, thereby unlocking the full potential of African entrepreneurship to create jobs for women and young people through investments in small and medium enterprises. “
Open to nominations
Nominations are open until June 9 for active Africa-focused VC fund managers; who meet the following criteria: diverse profiles ranging from local startups and corporate operators to experienced senior roles in a VC fund, previous investment experience in Africa and an active pursuit of building their new fund.
Visit the Ubuntu Foundation website For more information.
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