Bruce Nsereko-Lule joins Seedstars Africa Ventures as a general partner
Seedstars Africa Ventures, an early-stage fund for start-ups in the Africa region, today announced that Bruce Nsereko-Lule has joined the team full-time as a general partner based in Nairobi. Nsereko-Lule joins to support the fund’s strategy to provide stronger support to entrepreneurs in the region by leading pre-series A and series A rounds and providing follow-on capital to catalyse later-stage investments.
Nsereko-Lule is an active contributor to the venture capital ecosystem in the continent. With over 11 years of experience in venture capital and investment banking across frontier and emerging markets, he has led early-stage investments of several million dollars from African and international funds to more than 30 African start-ups.
Nsereko-Lule’s onboarding is part of the fund’s strategy to ramp-up its Nairobi office and strengthen its fundraising and investment capabilities. The fund has already invested $5.3 million and recently participated in or led flagship transactions including early-stage investments in Beacon Power Series (energy) and Bizao (payments).
Before joining, Nsereko-Lule was the founding investment principal at Chandaria Capital, where he established and led the operations of the sector-agnostic African venture capital fund. At Chandaria Capital, he led early-stage investment and portfolio management of 38 companies operating mostly in Africa, but also in South America and Asia.
“As an African that has lived in Africa for nearly 25 years, I have witnessed the numerous difficulties individuals face to start up and grow a business. The continued growth of early-stage ventures in the continent has positively accelerated the development of the industry. Still, more needs to be done to ensure local entrepreneurs gain access not only to early-stage funding but also cornerstone investors that will support these businesses to scale and succeed through successive rounds of funding,” said Nsereko-Lule.
Get the most from the Africa Private Equity News app by creating a free membership account. Go to the app home screen, tap the round orange icon in the top-right of your screen and follow the prompts.