An Africa-focused venture capital firm based in the Moroccan capital of Casablanca, known as Outlierz Ventures, has announced that it has made its first five investments since its inception in January 2017. The Seed and Series A firm invests in tech-enabled companies solving a real problem in a critical sector with an innovative approach and a scalable business model including fintech, insurtech, agritech, healthtech, B2B marketplaces, and logistics among others.
Per the investor’s announcement, the first group of startups backed by the firm includes Moroccan B2B marketplace WaystoCap, Kenya-based B2B e-commerce platform Sokowatch (who raised USD 2 Mn from 4Dx Ventures last year), Egypt’s B2B e-commerce point MaxAB, France-headquartered last-mile delivery startup Tousfacteurs and corporate data analytics firm Asoko Insight.
“We are proud to announce our first five investments in promising African tech companies led by talented entrepreneurs across different markets who have the potential to transform the continent’s economies,” said Kenza Lahlou, General Partner at the investing firm.
The fund focuses primarily on the most dynamic African ecosystems, namely, Nigeria, Kenya, South Africa, Egypt and Morocco…Investment tickets range between US $50,000 and US $500,000 in Seed stage and Pre-Series A companies … https://t.co/iebr06B7hH— aptantech (@aptantech) March 26, 2019
“We are excited about the opportunities created by the tech revolution for the African continent, both in terms of economic value creation and in terms of accelerating the continent’s development. Africa is definitely the next frontier to VC investments, and we are eager to contribute to proving it,” explained Ali Bensouda, co-founder and General Partner at Outlierz Ventures.
The investor is under the protection of leading United States and African private investors, part of which is Y Combinator CEO, Michael Seibel. Outlierz also has onboard Hicham Oudghiri, co-founder and CEO of Enigma, successful entrepreneur from the African diaspora in the big data space based in New York, and Joel Sibrac, former President of the BMCI bank in Morocco, and Bank of the West in San Francisco, part of BNP Paribas Group.
I started part time at YC over 5 years ago and have now seen about 1000 YC companies. The thing that never ceases to amaze me is the success that comes from the companies that figure out how to stay lean and stay alive over the course of years.— Michael Seibel (@mwseibel) May 31, 2018
Beyond financial commitments, Outlierz Ventures adds value to entrepreneurs by leveraging its network to facilitate access to the market, especially in fragmented Francophone Africa. “Market access is key for startups. Morocco has a role to play on the continent to facilitate access to the Francophone African market through our leading groups in their respective key sector. As investors, we play this role of a bridge between the large companies and the most promising African startups that seek to expand in other African markets, particularly on this part of the continent,” concluded Kenza Lahlou.