Rising Tide Africa, a female-focused angel investment fund, has launched, aimed at allowing female investors to back innovative startups run by women across the continent.
The fund was announced at last week’s African Angel Investor Summit in Cape Town, and follows successful programmes in Europe and the United States (US) that have involved hundreds of women.
Rising Tide Africa is an early-stage investment programme that will invest in between six and 10 innovative and fast-growing African startups over a 12-18 month period. The lead investors will be women, with each participant committing between US$10,000 and US$1 million. It will also offer angel investing training, best practice sharing, and networking opportunities.
Investments of between US$50,000 and US$500,000 will be made into startups, with the fund aimed at both women that are new to angel investing and experienced investors.
Yemi Keri, board member at Rising Tide Africa, told the African Angel Investor Summit audience it was a “unique, transborder, women-oriented investment programme”.
“We are going to be investing across different countries across the continent,” she said. “We shall also engage in educating and training. One of the critical things we want to do is train and mentor women. There are a lot of women that have the money but they don’t have the time to look at investment. We will look at these women as well as experienced investors.”