Funding

Obuntu Foundation Secures Funding to Support Up-and-Coming African Fund Managers

What’s this about?

  • The Obuntu Foundation partners with Mennonite Economic Development Associates (MEDA) to provide comprehensive support to emerging African fund managers through the Obuntu Launchpad Program, offering tailored training, mentorship, and access to a collaborative network.
  • Industry experts like Lewam Kefela, Andreata Muforo, and Fope Adelowo contribute to the fellowship’s practitioner-led sessions, enhancing the fellows’ learning experience.
  • This partnership aims to empower African fund managers, particularly women, to drive impact investments in small and medium-sized enterprises, fostering job creation and economic growth across the continent.

Zoom in…

The Obuntu Foundation, a catalyst for the next generation of Africa-focused Fund Managers, has received backing from the Mennonite Economic Development Associates (MEDA), a non-profit organization focused on economic development and entrepreneurship, to equip early-stage fund managers with the essential tools and expertise to build and operate successful funds within an African context.

The Obuntu Launchpad Program, a 12-month program will provide tailored training, LP engagement opportunities, and a collaborative network for knowledge sharing and deal flow. The participants will receive mentorship, fundraising assistance, and promoting innovative fund models tailored to the unique needs of African startups.

Since its launch in 2022, the Obuntu Launchpad Fellowship has successfully run two cohorts, supporting 24 fellows representing 21 funds with a combined target Assets Under Management (AUM) of $281 million. Notable alumni include Yewande Odumoso (Founding Partner, HoaQ), Aly El Shalakany (Managing Partner, Acasia), Thandeka Xaba (General Partner, Savant) and Emmanuel Adegboye (Head, Madica).

What they are saying…

We are excited to join forces with MEDA, an organization that shares our passion for empowering African entrepreneurs and driving economic development,” said Wambui Kinya, Co-Founder of the Obuntu Foundation. “This partnership serves as a validation of our successes to date and will significantly enhance our Launchpad Fellowship, providing our Fellows with unparalleled access to MEDA’s vast network, resources, and expertise.

The fellowship features practitioner-led sessions by industry experts like Lewam Kefela (Partech), Andreata Muforo (TLcom Capital), and Fope Adelowo (Helios). 

According to Dr. Dorothy Nyambi, President and CEO of MEDA, “This partnership is critical and represents our shared commitment to strengthening the impact investment ecosystem in Africa by enabling more women to lead investment vehicles thereby unlocking the full potential of African entrepreneurship to job creation for women and youth via investments in small and medium-sized enterprises.“

The Big picture

The partnership with MEDA will strengthen the Obuntu Foundation’s mission of empowering a thriving ecosystem of African fund managers. By attracting significant investments from both local and international backers, this collaboration injects vital capital into a continent where startups remain underfunded yet abound with potential. 

Bottomline

Nominations are open until June 9th for active Africa-focused VC Fund Managers who meet the following criteria: diverse profiles ranging from local startup and corporate operators to experienced senior roles within a VC fund, prior experience investing in Africa, and active pursuit of building their new fund. 

Source: techmoran.com

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