The Obuntu Foundation, which aims to train future African fund managers and Mennonite Economic Development Associates (MEDA), an international nonprofit that promotes economic growth and entrepreneurship, have entered into a partnership of strategic importance.
Participating African-focused fund managers have the opportunity to enhance their investment strategy, maximise fund returns, and broaden their influence through the Obuntu Launchpad Program, which is now accepting nominations for its third cohort.
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The benefits of the Obuntu Launchpad Program
With the help of MEDA, the Obuntu Launchpad Program gives aspiring African fund managers the resources they need to launch and run profitable funds. The 12-month program includes individualised instruction, chances for LP engagement, and a shared platform for information exchange and business development.
Successful participants will receive ongoing support from MEDA and Obuntu, including mentorship, fundraising help, and the promotion of innovative fund models specifically designed to meet the needs of African startups.
This support is made possible by harnessing the energy of the existing venture capital ecosystem, which is designed to assist first-time fund managers investing in belief capital.
Industry heavyweights such as Fope Adelowo (Helios), Andreata Muforo (TLcom Capital), and Lewam Kefela (Partech) will be leading practitioner-led sessions as part of the fellowship.
The Obuntu Launchpad Fellowship has been running well since its launch in 2022. In both cohorts, 24 fellows from 21 funds have received support, with a combined target AUM of $281 million. Emmanuel Adegboye (Head of Madica), Thandeka Xaba (General Partner of Digital Africa Ventures), Yewande Odumoso (Founding Partner of HoaQ), and Aly El Shalakany (Managing Partner of Acasia) are all notable alums.
Notable alumni accomplishments attest to the program’s dedication to cultivating a dynamic ecosystem of competent, creative fund managers, which has a lasting impact on the entrepreneurial scene throughout the continent.
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The alumni and nomination for the program
The 8 African countries that makeup Anglophone, Francophone, and Arabic-speaking Africa are home to the fellows, 58% of whom are female. They actively invested in various African countries, including Senegal, Egypt, Morocco, Kenya, Tanzania, Uganda, Namibia, Botswana, South Africa, Zambia, Mauritius, and Côte d’Ivoire.
Through their collaboration with MEDA, the Obuntu Foundation will be able to fulfil its mission of supporting a flourishing network of African fund managers. In a continent where startups are underfunded despite their abundant potential, this collaboration brings much-needed capital by attracting substantial investments from international and local backers.
Nominations are being accepted until June 9th for the Africa-focused VC Fund Manager position. The ideal candidate will have a varied background, including experience investing in Africa, a strong desire to build their fund, and a diverse profile that includes local startups, corporate operators, and senior roles within VC funds.
To learn more about the Obuntu Foundation’s efforts to train the next crop of African-focused fund managers, check out their website: https://obuntu.vc/
