LabEight* Ventures Launches “LabEight* Africa”
LabEight* Ventures, a Canadian Venture Initiative, launched LabEight* Africa to operate out of Lagos, Nigeria in July 2020 as an innovative financial product designed to capture value missed by existing financial products, and bring together an ethos of operationally focused venture capital investing. We focus on tech and tech-enabled startups with a social impact approach.
Managing Partner Jason D. Salvagni strongly believes there couldn’t have been a better time to Launch LabEight* Africa. In his words
“With all the turmoil in the world at present, LabEight* Africa’s mission is now more important than ever. Our commitment to raising up African entrepreneurs – in Africa – to benefit Africa; Our commitment to founders; and our focus on innovation that moves the needle on the Sustainable Development Goals, produces category-defining companies and sustained returns for our investors.“
Africa indeed has significant intellectual and technological capital but lacks “early stage” financing solutions suited to entrepreneurial and promising projects. Therefore, this fast-growing sector needs a dedicated frame encompassing support, promotion, and financial support. LabEight* Africa focuses on investments into African-based start-ups looking to scale nationally, in Africa and globally.
“LabEight* Africa has been launched on the belief that to successfully build, scale, and accelerate the growth of start-up companies, entrepreneurs will need partners with operational action bias” – Joy Jack (Partner)
The program, which is being held virtually due to the Covid-19 pandemic, will see several strategic industry partners involved and will work closely with 6 participants to provide “unrivalled” access to tech specialists, financial experts and advisors from varied backgrounds.
Managing Partners Ahmad Al-Hidiq, Dr Emmanuel Owobu, Jason D. Salvagni and Joy Jack are on a mission to equip African based entrepreneurs with the tools they often lack when looking to scale their businesses and the social resources many often find difficult to tap into.
“We will work with entrepreneurs and their leadership teams to deliver on important initiatives that will help scale their businesses. And will be led by a global team of seasoned senior executives to help scale the companies.”
– Dr. Emmanuel Owobu (Partner)
LabEight* Africa received 300+ impressive applications and will be officially unveiling the shortlisted companies participating in our inaugural cohort on 1st of September 2020. The programme is tailored to tech or tech-enabled early-stage companies with a social approach and will run from Mid September 2020 to December 2020, allowing founders to participate virtually and conferring access to a global network of experts, mentors, and business leaders, as well as matchmaking of skill sets that entrepreneurs lack in their companies.
This intensive 3 months program is designed to enable founders to graduate with robust, scalable, and fundable ventures.
Joining the inaugural cohort, are 6 startups with disruptive ideas encompassing FinTech, BioTech, AgriTech, EdTech, CleanTech, and a Female-Focused Social Impact startup.
All 6 start-ups will be part of a structured, hands-on curriculum with hyper-personalised support and will be mentored by dedicated advisors, network with industry insiders; which is essential to a start-up’s success.
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In this episode of GFA-Attract, we discuss with Kennedy Mubita, Nairobi based Venture Capital Lead for Africa & Middle east at SC Ventures, the venture capital arm of Standard Chartered Bank. SC Ventures is a $100 million fund focused on FinTech investments.
GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, grow, create jobs and solve society’s greatest challenges