Ring Capital reportedly launches an Africa-focused fund. French VC company with recent developments has now launched an African-focused fund that is targeted at French-speaking West Africa.
Ring Capital Launches Africa-Focused Fund
French VC firm Ring Capital has unveiled the launch of an impact investment fund called Ring Africa, specifically targeting French-speaking West Africa. This fund aims to invest in startups with a strong emphasis on social and environmental impact, focusing on funding opportunities ranging from the pre-seed to Series A stages.
Ring Africa intends to raise a €50 million fund, directed towards startups that address climate change challenges, support the transition to a formal economy in the region, and enhance agricultural productivity.
The Fund Will Collaborate With Mstudio
To navigate the complexities of investing in the region, the fund will collaborate with Mstudio, with plans underway to establish a local investment team based in Abidjan. Founded in 2023, Mstudio, headquartered in Abidjan, aims to drive activity in the region by leveraging successful business models from Anglophone Africa.
“We are not here to reinvent the wheel. We just work on business models that have worked very well in English-speaking Africa. We’re not here to do Facebook 4.0 or Instagram 2.0. We’re just here to do proven business models,” remarked Leslie Ossett, Co-founder of Mstudio.
The Company Intends to Replicate Successful Business Models in Anglophone Africa
Ossett, alongside Cedric Mangaud, co-founder of Saviu Ventures, and Leslie Ossett, co-founder of BuuPass, intend to replicate successful business models in Anglophone Africa.
Mstudio focuses on creating startups that enhance productivity in the region’s informal sector, which employs 95% of Africa’s working-age population. It has already invested in more than eight startups across fintech, edtech, and social commerce.
Mstudio’s Founder’s Reaction to the Development
Cedric Mangaud, Founder of Mstudio, expressed excitement about the partnership with Ring Capital, highlighting their shared commitment to inclusive and sustainable economic development in Francophone Africa.
Ring Capital Has Appointed Elisabeth Moreno as President of Its Board
In a notable development, Ring Capital has appointed Elisabeth Moreno, former Delegate Minister for Gender Equality, Diversity, and Equal Opportunities, as President of its board. In her new role, Moreno will support the growth of Ring Africa and Ring Capital’s dedication to feminization and inclusion.
“The future of Europe and Africa is intertwined. With Ring Africa, our ambition is to contribute to turning ideas into sustainable solutions to shape a more sustainable and inclusive future for Africa, and participate in the emergence of a new generation of leaders,” Moreno stated.
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