English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 12 November 2020, 14:00 HKT/SGT
Share:
    

Source: Pacer Ventures LLC
Pacer Ventures set to solve the funding gap for African Startups

JOHANNESBURG & LAGOS, Nov 12, 2020 - (ACN Newswire) - Pacer Ventures LLC, a venture firm for sub-Saharan Africa, has launched a $3M fund for early-stage startups, aimed at solving the most critical problem on the continent. Registered in Delaware, with operational offices in Lagos and Johannesburg, Pacer VC is focusing on verticals that are expedient to the African continent, including healthcare, financial inclusion, education and agriculture.


The UN projects that Africa will have a population of 1.68 billion people by 2030, while the GSMA Mobile Economy Report states that 84% of Africa's population or 1 billion people will have access to a SIM connection by 2025.

"We see a huge opportunity to support early stage founders who are making meaningful contributions to their local economies and communities by leveraging the high mobile penetration on the continent," said Gbemi Akande, General Partner at Pacer Ventures. The firm has already begun to support early stage founders by participating in seed rounds, including VPD.Money and others.

With an average cheque size of six figures, Pacer Ventures is positioned to add substantial value to its portfolio companies. According to Antoinia Norman, General Partner at Pacer Ventures in charge of Southern Africa, "We won't just write a cheque, we will enable founders to work in and on their business, by supporting them along every step of their journey, with resources and access to markets."

The General Partners of Pacer Ventures have over 30 years of combined experience in entrepreneurship and start deal flow sourcing. The key differentiator is the fund's focus on sourcing high potential African startups, leveraging its strategic partnership with Founder Institute in Africa as a funnel.

"This collaboration with Founder Institute gives us an undeniable edge particularly with quality deal-flow at an early stage and we will leverage this to spread our footprint quickly," said Chukwuemeka Agbata, Regional Director of Founder Institute in Africa and Co-founder of techbuild.africa.

Speaking on the Pacer VC investment thesis, Geoffrey Weli-Wosu, General Partner at Pacer Ventures and Co-Founder of VoguePay and Domineum, stated, "We are leveraging our in-depth experience in startups and ecosystem development to take advantage of the early-stage funding gap in Africa."

About Pacer Ventures LLC
Pacer Ventures is well positioned to support the growth of startups within Sub-Saharan Africa. A combination of attributes enables our deal-flow, sourcing and portfolio management which promises realistic returns to our investors.

Pacer email: info@pacer.vc
Official website: https://pacer.vc/
Pacer blog: https://pacer.vc/blog/
Twitter: https://twitter.com/pacerventures
LinkedIn: www.linkedin.com/company/pacerventures/

Topic: Press release summary
Source: Pacer Ventures LLC

Sectors: Daily Finance, Funds & Equities, Blockchain Technology, PE, VC & Alternatives, Regional, Local Biz
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 
Pacer Ventures LLC Links

http://www.pacer.vc

https://pacer.vc/blog/

https://twitter.com/pacerventures

https://www.linkedin.com/company/pacerventures/

Pacer Ventures LLC Related News
Oct 6, 2021 10:30 HKT/SGT
Pacer Ventures announces Pacer Labs, Pan-African software development firm
Dec 14, 2020 13:00 HKT/SGT
Founder Institute (FI) announces Pacer Ventures as Investor in Residence for its African Accelerators
Nov 25, 2020 16:00 HKT/SGT
Pacer Ventures partners Founder Institute, launches $3M fund for early-stage African startups
Nov 12, 2020 09:00 HKT/SGT
Pacer Ventures Early Stage Fund to solve funding gap for African Startups
More news >>
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575