Angaza Capital announces launch of the Rwanda Innovation Fund
Angaza Capital has announced the launch of the Rwanda Innovation Fund (RIF), with the mission to back disruptive, innovative companies that deploy solutions to solve major sustainability challenges in Africa.
“The Government of Rwanda is excited to be part of this unique fund, being the first government-backed VC fund,” says Paula Ingabire, Rwanda’s minister of ICT and innovation. “Rwanda is excited to be investing in Rwandan and African companies bringing to market innovative solutions addressing the challenges on the African continent. Rwanda, being well-positioned as a pan-African technology and innovation hub and through our partnership with Angaza, aspire to help Rwandan and African companies scale across Africa.”
Backed by the African Development Bank and the Government of Rwanda, as well as international investors, the fund’s team encompasses experienced investors and multiple-times entrepreneurs.
“Backing smart and sustainable innovation in Africa presents today the biggest opportunity to fully align a clean and inclusive future for all, with outsised performance, by deploying the latest distributed, AI/ML, cloud technologies in hardly penetrated markets,” says Angela Homsi, Angaza Capital chair. “Innovative technologies now have endless potential to change billions of lives and solve the continent’s most pressing problems, and Rwanda can stand at the forefront of this growing momentum.”
RIF focuses on early growth-stage companies with traction, looking to scale their operations. The fund invests between $250,000 to $5 million in each company.
“With decades of cumulative experience across the continent’s business and innovation spheres, we focus on growth-stage ventures that present the biggest need, alongside the most substantial potential for impact on a large scale,” says Homsi. “RIF’s team not only deploys capital but provides meaningful know-how and support to the companies, which is essential for regional and global success.”
Together with launching the fund, Angaza established its new Kigali office, adding to its current presence in Abu Dhabi and Tel Aviv.
Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.