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Venture Investment

A New Model for Startup Investment

Innovate SOMO Funds are pioneering a hybrid approach to early-stage startup funding, combining venture philanthropy with venture capital. Designed to address the critical funding gap for pre-seed and seed-stage tech startups in Africa, this initiative provides crucial investment and support for job-creating companies outside of major metro areas.

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A map of the United States. California and New York are highlighted as receiving 80 percent of venture capital funds raised in the U.S., while ANigeria is highlighted as closing the gap.

Putting Our Startups on the Map

  • Access to Capital: Over 80% of venture capital in Africa flows to just a handful of countries, leaving rural and underderveloped cities underserved.
  • Economic Impact: Startups create the majority of net new jobs each year, and provide above average wages.
  • Bridging the Gap: By deploying charitable capital alongside venture investment, Innovate SOMO Funds provide a unique solution to a persistent funding challenge.

Empowering Investors To Do Good and Do Well

Innovate SOMO Funds represent a first-of-its-kind regional approach combining a non-profit fund supported by charitable contributions and a for-profit fund backed by limited partners, co-investing to make equity and revenue-based investments in startups across Africa The model empowers investors to maximize impact in the earliest, riskiest stages where startup funding is most scarce, especially in areas where traditional investment models often fall short.

Venn diagram displaying the overlap between For-Profit Investments and Non-Profit Investments. The overlap, Venture Philanthropy, is a co-investment model promoting sustainability and broader ecosystem support.

By concentrating on startups within Africa, Innovate SOMO Funds will support innovation in a range of locally important industry sectors including information technology, tech manufacturing, financial services, healthcare, and agriculture, and drive economic growth, and job creation where it’s needed most.

Our Funds Grow Companies from Pre-Seed Through Seed

We offer capital across our funds to grow high-potential startups with early-stage venture capital in Africa. This fund invests in pre-seed and seed-stage companies with some demonstration of problem-solution or product-market fit. Companies at this stage are typically raising $100K-$1M rounds.

Nonprofit Fund

Our nonprofit fund provides grants, technical assistance, and catalytic capital to early-stage African software and software-enabled startups to build capacity, de-risk innovation, and unlock future private investment.

Limited Partner Fund

Our LP fund makes commercial equity investments in high-potential African software and software-enabled service companies, targeting competitive financial returns alongside scalable impact.

Join the Movement

Investing in Innovate SOMO Funds is more than just a financial decision—it’s a commitment to reshaping the future of tech and economic development in Africa

Be a part of the change. Invest in innovation today.

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