Africa: Mustard launches investment vehicle for globalizable idea-stage startups

By : Ruben Tchounyabe

Date : vendredi, 20 mai 2022 20:25

Most of the reports focused on Africa’s development stress the fact that entrepreneurship can address unemployment and wealth-creation problems. However, there are funding problems. To address those problems, investors, venture capitalists, business angels, and alike are stepping in with ever-innovative financing offers. 

London-based venture capitalist Mustard recently launched a £4 million (US$5 million) investment vehicle to support African startups with “globalizable” ideas. Through its investment vehicle, Mustard plans to be both an investor and builder that will develop African idea-stage ventures that are likely to appeal to a global audience.

According to Mustard, African startups have the potential to influence the global scene, therefore imprinting a positive image of the continent.  Therefore, it will invest both capital and technical expertise (engineering, design, and storytelling) even before the beneficiary projects and ventures are incorporated. 

For the former Tony Elumelu Foundation CEO and Venture Capital advisor for the current project, “Mustard’s approach will [...] bring stories from Africa and other cultures to the world [...] through the meaningful brand narratives it builds for tech ventures.”  

Africa has many stories to tell, and over the last twenty years the story of its resilient youth seen through the growth of tech startups has been one of its most significant,” she added. 

Meanwhile, Seni Sulyman, founder of Black Ops (a community of African Venture builders and operators), believes that “right from the first time [...] Mustard’s thesis and idea-stage investment approach [..] was really powerful.” 

I am keen to see what comes next from the Mustard team because I want to see African brands go global, which will not only mean massive changes for the continent but also for its place in the world,” he commented. 

Ruben Tchounyabe


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