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Meet Nigeria’s LPM/L’Espace: raising capital to take Africa’s fashion to the world

By Miguel Heilbron on April 15, 2014


Today’s featured members of the VC4Africa community are entrepreneurs Isoken Ogiemwonyi & Wonuola Okoye of LPM/L’Espace
Having achieved a substantial impact on the Lagos shopping culture already, they’re currently looking for investments to expand in Nigeria and internationally.

After participating in the virtual accelerator program of venture capital community VC4Africa they recently pitched their Nigerian fashion company at the Angel Fair West Africa event in Lagos, where 20 African SME entrepreneurs pitched in front of investors.

L’Espace is a multi-brand concept store in Lagos; Le Petit Marche (LPM) is an innovative monthly market. Co-founder Isoken Ogiemwonyi originally graduated as a lawyer (LL.B) and also holds a Postgraduate Diploma in Hospitality Administration and an MSc in Management. Co-founder [...]

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Meet Green Energy & Biofuels, “West Africa’s best clean energy investment opportunity”

By Miguel Heilbron on March 21, 2014

160.000 clean stoves sold in 2.5 years! Nigerian company Green Energy & Biofuels, winner of various prizes and recently named “the best clean energy investment opportunity in West Africa”, is currently raising capital. See their VC4Africa venture profile for more info (sign up for the VC4Africa Investor Pro Account and get access to documents and full details).

Green Energy & Biofuels currently has approximately $1.5 million USD available from a $4 million Series A equity round. In addition, $3 million debt is also sought. We had a chance to catch up with Femi Oye, Green Energy & Biofuels Founder and CEO, aspiring to become Africa’s first multi-billion dollar renewable fuels company. The company is participating in the Global Social Benefit Incubator [...]

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Nomanini secures series B funding from Rockbridge Investment Limited

By Miguel Heilbron on February 25, 2014

Congratulations to VC4Africa member Nomanini! We featured them in 2012 when they secured their series A round, and this week they announce the closing of their series B! With new investments from Seychelles ­based investment company Rockbridge Investments Limited, Nomanini will expand its prepaid platform across and outside Africa.

Nomanini is a social enterprise based in South Africa, providing technology for the distribution of prepaid services. Nomanini secured their series ­B funding from Seychelles­ based investment company Rockbridge Investments Limited this month. The latest financing brings the startup’s total raised capital to over ZAR 20 million, or USD 1.9 million.

In 2012, Nomanini raised USD 600 000 in series-A funding from Netherlands based eVentures Africa Fund (eVA Fund) as well as Esther Dyson — the angel [...]

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VC4Africa’s Mentorship Marketplace celebrates 100 mentors!

By Miguel Heilbron on February 17, 2014

This week the 100th mentor has joined VC4Africa’s Mentorship Marketplace! This online peer-to-peer platform connects entrepreneurs in Africa with local and global business experts, as a part of the VC4Africa community with thousands of members across Africa and the rest of the world. We had a chance to catch up with some of the 100 mentors and around 100 mentees on the platform focused on building successful African businesses.

Since the launch of the Mentorship Marketplace in April 2013, 58 matches have been made between entrepreneurs and business experts to date, of which around 15 have been closed successfully. In many other cases the mentoring process is still ongoing, and new requests are added every [...]

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MoboFree secures growth investment! Read the inside story and get fundraising tips from their CEO

By Miguel Heilbron on February 12, 2014

Congratulations to Mobofree, Africa’s mobile ‘scam-free’ market place to buy, sell and swap products! Mobofree secured a significant growth funding from the Netherlands based eVentures Africa Fund (eVA Fund), part of the VC4Africa Investor Network, and co-investor Million Monkeys.

Around six month ago Mobofree joined the VC4Africa platform for their fundraising campaign. We had a chance to catch up with Mobofree’s CEO Neringa Pazusyte; read the interview below. We expect to become Africa’s leading online marketplace”. “VC4Africa is a great platform allowing entrepreneurs to find investors… Just don’t forget – you must be an active VC4Africa community member”.

Congratulations with the investment you secured! What have you secured, how will you use [...]

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Is one of Africa’s startups the “Best Startup in the World”?

By Miguel Heilbron on February 3, 2014


Meet the 5 African entrepreneurs who are among the 20 finalists in the worldwide startup competition Seedstars World: VC4Africa members Jooist, RetailTower and SimplePay – and GustPay and Foyo! This Tuesday night, in a grand finale in Switzerland, the Seedstars World winner will be announced. Nearly a thousand startups from all across the world applied. The final winner will receive an equity investment of up to $500k, and be crowned “Best Startup In The World”. The VC4Africa community wishes the 5 listed African startups the best of luck and success!!

Criteria to enter the competition were as follows: less than $500k capital; maximum 2 years since founding date and a product that is up and running on the market; global [...]

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Egypt’s touch sticker innovation ViViFi secures USD 70K from investors, continues to raise USD 1.2M

By Miguel Heilbron on January 29, 2014


Egypt’s innovative touch sticker company ViViFi, one of the champions of the recent DEMO Africa 2013 conference, secured USD 70K from investors and is now raising a new round of USD 1.2 million and looking for partnerships with large technology manufacturers in African, North American and European markets. Accredited investors who registered a VC4Africa Pro Account can see full details on ViViFi’s VC4Africa venture profile. We had a chance to catch up with ViViFi founder Haitham Desoky.

Please introduce your product?

“Our touch sticker innovation invisibly turns non-conductive materials into touch surfaces that can interact with human contact. The technology can transform all non-conductive surfaces with limited thickness – like wood, glass, etcetera – into touch sensors or screens, through [...]

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Africa’s job portal Njorku: Looking for a mentor, ended up with an investor too!

By Miguel Heilbron on January 27, 2014


Cameroonian entrepreneur Churchill Nanje Mambe, founder of job search platform Njorku, was looking for a mentor on VC4Africa’s Mentorship Marketplace, and ended up with a new investor too! Read his story below.

What happened when you put a request on VC4Africa’s Mentorship Marketplace last year?

“When we published the mentorship request on VC4Africa, we got two reactions from potential mentors. The mentor I accepted was from Cameroon like myself, but now living abroad, and had co-founded an Internet company with revenues of 7 million USD per year. With his experience in building web companies he has been guiding and coaching my team and me for around half a year now.

Thanks to VC4Africa’s Mentorship Marketplace I met this guy, he helped [...]

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Uganda’s clean energy company UpEnergy closes investment deal, now raising USD 1 million more in debt

By Miguel Heilbron on January 24, 2014

Congratulations to UpEnergy! The Ugandan clean energy company, an Unreasonable Institute alumni, has closed an equity investment deal, and is now raising USD 1 million more in debt. Interested investors should check UpEnergy’s VC4Africa venture profile for more info on the company. Register a VC4Africa Pro Account to get access to full details. We had a chance to catch up with UpEnergy co-founder Erik Wurster. Read the interview below.


Congratulations on the investment you secured! What have you secured and what are you still looking for?

“One of our investors prefers that we not reveal the investment amount so I’ll give you a broad range: it is more than $1 million and less than $10 million. The total amount is significant for us, [...]

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Success stories in the making: fast growing companies across Africa to watch in 2014

By Miguel Heilbron on January 20, 2014

Check out a great list of high potential ventures across Africa you should follow: these fast growing companies are gaining traction and looking to make big progress in 2014.

The listed companies are in sectors as diverse as technology, mobile, food, sustainability, gaming, accounting, advertising, fashion, cosmetics, and more. The countries include Nigeria, Kenya, South Africa, Tanzania, Uganda, Ghana, Cameroon, Rwanda, DRC, Sierra Leone, Mozambique and Egypt. The founders are running established companies with quality teams, many are generating revenue and have already secured the backing of a lead investor.

Get in touch with these upcoming business leaders! Click on the venture profiles below for more info, read the documentation and connect with the entrepreneurs. Only investors with a VC4Africa Pro Account have access [...]

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