Germany-based VC firm GreenTec Capital Partners has launched a non-profit foundation to promote investment in African entrepreneurship with the goal of driving the creation of economic and social added-value.
Founded in 2015, GreenTec has been an active backer of African tech startups of late, investing in the likes of Nigerian logistics startup Parcel-it, Kenyan insurtech platform Bismart, Namibian CPU producer PEBL, Kenyan recruitment platform Netwookie, and Kenyan AI startup SuperFluid Labs.
The newly-launched GreenTec Capital Africa Foundation has offices in both Africa and Europe, and will work towards creating synergies between different stakeholders. It will collaborate with partners in the entrepreneurship ecosystem, investors and SMEs, as well as public and private institutions.
“Investing in African entrepreneurs can bring a manifold of positive outcomes in the form of economic success; for investment and for local value. In order to invest or to receive investment it is crucial to have the right knowledge, the right partners and local and global visibility,” said Thomas Festerling, the foundation’s chief executive officer (CEO), said.
“With the GreenTec Capital Africa Foundation we strive to create an environment in which all of this is accessible to entrepreneurs, investors and established companies. We know the pitfalls and ways to navigate these through our experience gained at GreenTec Capital Partners. We are open to collaborate with organisations who see the value in the approach we are taking and are willing to make a long-term difference.”