[Press Release] Pacer Ventures set to solve the funding gap for African Startups

JOHANNESBURG & LAGOS, Nov 12, 2020 – (ACN Newswire) – Pacer Ventures LLC, a venture firm for sub-Saharan Africa, has launched a $3M fund for early-stage startups, aimed at solving the most critical problem on the continent. Registered in Delaware, with operational offices in Lagos and Johannesburg, Pacer VC is focusing on verticals that are expedient to the African continent, including healthcare, financial inclusion, education and agriculture.

The UN projects that Africa will have a population of 1.68 billion people by 2030, while the GSMA Mobile Economy Report states that 84% of Africa’s population or 1 billion people will have access to a SIM connection by 2025.

“We see a huge opportunity to support early stage founders who are making meaningful contributions to their local economies and communities by leveraging the high mobile penetration on the continent,” said Gbemi Akande, General Partner at Pacer Ventures. The firm has already begun to support early stage founders by participating in seed rounds, including VPD.Money and others.

With an average cheque size of six figures, Pacer Ventures is positioned to add substantial value to its portfolio companies. According to Antoinia Norman, General Partner at Pacer Ventures in charge of Southern Africa, “We won’t just write a cheque, we will enable founders to work in and on their business, by supporting them along every step of their journey, with resources and access to markets.”

The General Partners of Pacer Ventures have over 30 years of combined experience in entrepreneurship and start deal flow sourcing. The key differentiator is the fund’s focus on sourcing high potential African startups, leveraging its strategic partnership with Founder Institute in Africa as a funnel.

“This collaboration with Founder Institute gives us an undeniable edge particularly with quality deal-flow at an early stage and we will leverage this to spread our footprint quickly,” said Chukwuemeka Agbata, Regional Director of Founder Institute in Africa and Co-founder of techbuild.africa.

Speaking on the Pacer VC investment thesis, Geoffrey Weli-Wosu, General Partner at Pacer Ventures and Co-Founder of VoguePay and Domineum, stated, “We are leveraging our in-depth experience in startups and ecosystem development to take advantage of the early-stage funding gap in Africa.”

About Pacer Ventures LLC
Pacer Ventures is well positioned to support the growth of startups within Sub-Saharan Africa. A combination of attributes enables our deal-flow, sourcing and portfolio management which promises realistic returns to our investors.

Pacer email: [email protected]
Official website: https://pacer.vc/
Pacer blog: https://pacer.vc/blog/
Twitter: https://twitter.com/pacerventures
LinkedIn: www.linkedin.com/company/pacerventures/

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

How to Invest in the Cannabis Industry

How to Invest in the Cannabis Industry

Despite cannabis (also known as weed or marijuana) being illegal in a large part of the world, the global cannabis market was worth US$28.26 billion in 2021 and is expected to grow to US$197.74 billion by 2028. Gone are the days when venture capital firms would dismiss cannabis companies as problematic investments.

Why Crypto Markets Crash and 5 Ways Investors Can Deal

Why Crypto Markets Crash and 5 Ways Investors Can Deal

With more and more people holding cryptocurrencies today, the crypto crash of May 2022 has had severe financial consequences. Reliable currencies, including Bitcoin and Ether, met a terrible fate, as did stablecoins, amounting to losses of over US$300 billion.

How Lemi Is Helping Small Businesses Reach Their Customers

How Lemi Is Helping Small Businesses Reach Their Customers

Starting a business isn’t easy. From finding raw materials and making your products to actually reaching the right customer base, everything takes a lot of time and energy. Even though this process is so hard, a lot of people venture out and start their own businesses, so much so that small business enterprises (SMEs) make up 90% of the world’s businesses.

What Is CateCoin and Is It Legit

What Is CateCoin and Is It Legit?

At a time when meme coins, like Dogecoin and Shiba Inu, are enjoying immense popularity, another cryptocurrency has been laying the groundwork to compete with them: CateCoin.

Companies that Might Accept Crypto Payments in 2022

Companies that Might Accept Crypto Payments in 2022

The cryptocurrency industry is growing rapidly, and with that growth comes increased interest from companies looking to accept crypto payments. While there are already a few major companies that accept cryptocurrency payments, like Microsoft and PayPal, many more are considering following suit.