Grace Ashiru
OpenseedVC, a newly established operator-led fund, has officially launched, announcing the first closure of its $10 million angel-style early-stage fund.
This fund aims to be the initial investor for experienced operators creating their technology startups across Africa and Europe.
Supported by LPs, including innovators, operators, and high-net-worth individuals (HNIs) from the US, Europe, and Africa, the fund will provide startup checks of up to $150,000 to operators launching their tech ventures from scratch.
Furthermore, these operators will gain access to the fund’s extensive network, comprising over fifty seasoned professionals. OpenseedVC will primarily invest in sectors such as the Future of Work, AI and Fintech, B2B Software, and the Future of Health & Commerce, aligning the portfolio’s intrinsic impacts with the UN Sustainable Development Goals.
General Partner Maria Rotilu, the founder of OpenseedVC, aims to provide early capital to the growing number of seasoned operators eager to launch their digital businesses.
According to Maria, early-stage OpenseedVC founders benefit not only from essential funding and confidence but also from access to a network of experienced operators who can support them throughout the entire launch process.
With an open application process that allows founders to apply without an introduction, the fund plans to primarily invest in founders from Africa and Europe. Over the next five years, it aims to invest in at least sixty start-ups.
As a former operator turned investor, Rotilu has scaled international technology start-ups such as Uber and Branch to millions of users in her roles as country manager and general manager, respectively. She has also invested in global companies as a principal and fund manager of Octopus Ventures First Cheque Fund.
Rotilu possesses extensive market expertise spanning both Africa and Europe. Additionally, Maria served as the Managing Director of Oxford University’s Oxford Seed Fund, renowned as one of the leading unicorn creators in Europe.
The fund’s initial investments focus on the themes of the Future of Health and Commerce. The first investment supports a speech-to-text transcription model tailored for underserved accents, beginning with Africa. The second investment is directed towards an AI-enabled supplier dispute resolution software in the United Kingdom
Maria Rotilu observes, “As both an operator and investor, I’ve encountered incredibly talented and experienced operators facing significant challenges while launching their startups. Operators possess domain expertise and a unique understanding of large-scale problems that can be addressed with innovative technology.
Those who are visionaries, with the ability to execute, scale, build teams, and the determination to tackle tough issues, have skills that are especially crucial in the current market for building tech startups that address real problems. This creates scalable value for the global economy and our investors. The experience that seasoned operators bring in business building, combined with the dynamism and drive of founders, is the central focus for OpenseedVC.”
The fund is accessible to:
Domain experts and seasoned operators at high-growth technology companies, including first-time founders, are encouraged to apply. Second-time founders who have built and exited a previous startup are also welcome.
Every proposal submitted to OpenseedVC will undergo the same assessment process, with investments made on a rolling basis throughout the year.OpenseedVC is currently accepting applications. Interested startups can visit the website to learn more and submit an application.
