Ring Capital's Bold Move
French venture capital firm, Ring Capital, makes a significant leap into the African startup ecosystem with the launch of Ring Africa. This impact investment fund is poised to catalyze social and environmental change in French-speaking West Africa, targeting startups at the forefront of innovation and sustainability.
Addressing Africa's Challenges
Ring Africa aims to raise €50 million to support startups tackling pressing issues such as climate change, economic formalization, and agricultural productivity. By focusing on pre-seed to Series A stages, the fund seeks to nurture early-stage ventures with a strong commitment to social and environmental impact.
Partnering for Progress: The Role of Mstudio
In collaboration with Abidjan-based startup studio, Mstudio, Ring Africa navigates the complex investment landscape of Francophone Africa. Mstudio, founded in 2023 by Leslie Ossett and Cedric Mangaud, brings a wealth of experience in scaling successful business models from English-speaking Africa to the Francophone region.
Driving Economic Transformation
Mstudio's mission is to revolutionize the informal sector, which constitutes 95% of Africa's workforce, by adapting proven business models. With investments in fintech, edtech, and social commerce, Mstudio aims to enhance productivity and formalize the economy, laying the foundation for sustainable growth and development.
A Vision for Inclusive Growth
Elisabeth Moreno, former Delegate Minister for Gender Equality, Diversity, and Equal Opportunities, assumes the role of President of Ring Africa's board. Moreno's leadership underscores Ring Capital's commitment to diversity and inclusivity, with a particular focus on empowering women in the tech ecosystem.
Shaping Africa's Future
As Ring Africa embarks on its mission to transform ideas into impactful solutions, Moreno emphasizes the interconnectedness of Europe and Africa's futures. With a shared vision for sustainability and inclusivity, Ring Capital and its partners are poised to shape a brighter, more prosperous future for Africa through innovation and entrepreneurship.
