Emerging Ghanaian patient capital firm Orios Capital is raising a US$1 million fund, in a bid to bridge the startup funding gap in Ghana, and across West Africa.
The fund will target scalable, impact-based startups primarily across the West African region; with a focus on technology, healthcare, services, agribusiness, clean water, formal housing, and quality education.
The firm highlights that its work is underpinned by the goal of social change and job creation as solutions to reducing global poverty.
Orios hopes to have raised the full US$1 million fund within a year. 20 per cent of the funds have already been secured; with the firm saying interest in the fund is substantial, and may lead to an early close.
The firm aims to issue the first call for proposals for the fund by the end of the year.
“Our work is pivotal in redefining solutions to poverty reduction in Africa. We want to be the fund that provides the patient capital needed to transform such businesses to achieve that mandate,” says board chairman of Orios Capital, Kweku Awotwi.
“We strongly believe that our strong governance structure and cumulative experience will serve as a differentiating factor in disrupting the private equity market for startups.”