Ring Capital, a firm dedicated to financing and supporting entrepreneurs addressing social and environmental challenges, has expanded its investment portfolio with the launch of Ring Africa, an impact investment fund tailored for startups in Francophone West Africa.
Investment Focus and Objectives
The Ring Africa fund, with a target size of EUR50 million (US$55 million), aims to bolster the growth of impact entrepreneurship in Francophone West Africa. It will prioritize startups operating in the pre-seed, seed, and Series A stages, with a particular focus on solutions tailored to the region’s challenges.
Addressing African Challenges
Investments from the Ring Africa fund will be directed towards solutions that address pressing issues on the African continent, including transitioning to the formal economy, adapting to climate change, and promoting sustainable agriculture and consumption.
Support for Entrepreneurs
Ring Africa is committed to supporting the new generation of entrepreneurs and fostering the feminization of entrepreneurship in Francophone West Africa. By providing financial backing and strategic support, the fund aims to empower entrepreneurs to drive positive change and sustainable development in the region.
Nicolas Celier’s Statement
Nicolas Celier, co-founder of Ring Capital, emphasized the significance of impact investing in Africa, citing the urgent need for environmental and social solutions. He expressed enthusiasm for the launch of Ring Africa, highlighting its potential to improve living conditions and nurture a new generation of business leaders on the continent.
Source: Innovation Village