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3 African Startups Receive $10,000 Each In Aptive Capital Equity-investment

Nigeria Student Forum / General Discussion / 3 African Startups Receive $10,000 Each In Aptive Capital Equity-investment

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Sani Ibrahim
Abubakar Tafawa Balewa,University
Agricultural economics and extension
100Level, Nigeria.
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Aptive Capital
Aptive picks three African startups as its maiden portfolio
companies
Selected Startups get $10,000 each in equity-investment,
support and network access from Aptive Capital
Aptive Capital , a US-based VC, has announced its investment
in three early-stage businesses in Africa; Nigeria, and Uganda.
Earlier in June 2020, the Africa-focused investment company
opened up applications to invest $10,000 equity capital into
eligible and high potential startups based in Africa, from its $1
million portfolio fund.
The application, which ran for a month, had over 500 entries
from high growth companies with very impressive founders
across Africa.
After thorough phases of scrutiny and submission reviews by
investment professionals, three startups were selected for the
early-stage funding.
Speaking on the investment, the Managing Partner at Aptive
Capital, Dr Ben Peter, said, “We had lots of entries from
impressive founders across Africa who showed so much
enthusiasm and had amazing solutions. We’ve settled for these
three, not because they are the best, but because we believe
their visions as impact-led companies directly align with our
goals to promote measurable and innovative social causes in
Africa. Our team has kickstarted support for these energetic
companies who believe the solutions they are proffering will
solve the continent’s most daunting problems. This is what
Aptive Capital is committed to doing.”
According to the organisation, the criteria which determine the
selection include; early-stage business, evidence of impact,
founding team, uniqueness of the solution, traction, leverage
of technology, further projections and validity of the startup
industry.
While applications rolled in from sectors such as Digital
Storytelling, eLearning, Access to market, Digital payments,
Supply Chain management, agriculture, Logistic, eCommerce,
Gamification, Big data, Cybersecurity, Crowdsourcing, and
eLiteracy, the selected companies include:
Digital marketing agency supporting MSMEs in Africa and the
US market to achieve their business ROI objectives as well as
scale through various online channels.
Bitcoin payment solution using crypto to transform payment in
Uganda.
3. Emmnoch Farms –
Fish farm solution providing end-to-end along the fishery value
chain and connecting rural farmers and bridging the nutrition
gap through fish farming.
From the pool, barely 100 startups made it to the second
stage which involved due diligence and further documentation.
The next round was a one-on-one Zoom pitch, that saw 10
selected startups make it to the finals.
At the final stage, only these three startups were able to
successfully gain investment interest from Aptive Capital.
According to Peter, “Our selection process was quite intense
and we’re glad that these ones not only saw it through but also
emerged victorious in the end because of their belief in their
solution as well as a very lucid business model.”
In the next couple of months, Aptive Capital will, in addition to
the $10,000 funding, offer technical support, mentorship,
coaching to intensify the social impact of its portfolio
companies.
Aptive says its next call for investment rounds will open before
end of the year.
What you should about Aptive Capital
Aptive Capital is a US-based VC, with a $1m portfolio fund
committed to supporting entrepreneurs and innovators
dedicated to social impact within their community.
It is an investment vehicle that wants to identify the most
innovative African startups, creating a measurable impact on
the local and continental landscape, and provide a diverse
support system to help these solutions scale.
Launched in 2020, the fund is committed to supporting,
coaching and increasing the social impact of early-stage
entrepreneurs and innovators who are changing the norm and
creating social impact within their society.
Aptive Capital support system ranges from the business
advisory, technical expertise, network access, media coverage,
equity-funding, industry experts, market access and so on.
With base and partners in the United States and Nigeria, Aptive
looks to invest in, and support the acceleration of 100 African
startups in the next 5 years.

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