OpenSeed Ventures (OpenSeed VC) has marked the first closure of its $10 million angel-style early-stage fund.
The fund, according to former Octopus Ventures and Oxford Seed Fund investor, Maria Rotilu, aims to be the first investor in seasoned operators beginning their digital enterprises across Africa and Europe.
Having scaled multinational technology start-ups like Uber and Branch to millions of users as Country Manager and General Manager, respectively, Roilu is an experienced operator who has turned investor. She has also invested in international companies as a Principal & Fund Manager of the Octopus Ventures First Cheque Fund.
OpenseedVC said in a statement said that in addition to providing these founders with early funding and conviction, they would also have the assistance of an experienced operator community that presently numbers over fifty people.
The fund which is supported by LPs such as founders, operators, and HNIs across Africa, Europe, and the US will provide up to $150,000 in startup checks and access to its extensive network of more than 50 seasoned specialists to assist operators who are just starting their technology companies from scratch.
To connect the portfolio’s inherent impact with the UN Sustainable Development Goals, OpenseedVC will primarily invest in the Future of Commerce, which includes B2B software, AI and Fintech, the Future of Health, and Work.
Speaking on the launch of Openseed VC Fund, Maria Rotilu said:
“As an operator, and investor, I have encountered incredibly talented and experienced operators, and the challenges faced as they try to launch their startups.
“Operators have the advantage of domain expertise, and unique insight into large problems that can be tackled with innovative technology.”
Rotilu claimed OpenseedVC was launched to make early investments in seasoned operators who are keen to start their digital businesses.
We earlier reported that TLcom Capital, an African venture capital firm that specialises in early-stage entrepreneurs has raised $154 million for its second fund, TIDE Africa Fund II.