VC Firm OpenseedVC Launches USD 10 M Fund For African Startups

OpenseedVC, an early-stage VC firm that was launched in 2024, has reached the first close of its USD 10 M fund for early-stage startups across Africa and Europe. The USD 10 M fund is OpenseedVC’s first fund and will be used to back founders with domain expertise. The VC firm expects to reach a second close by May next year. 

The London-headquartered VC firm will invest up to USD 150 K in startups across B2B software, artificial intelligence, fintech, digital health, and the future of work. The firm has already invested in two undisclosed artificial intelligence startups in Nigeria and the UK. 

OpenseedVC boasts a network of more than 50 seasoned professionals(reportedly) with extensive expertise in their investment sectors, offering support to founders in conjunction with the VC firm’s team. Currently investing in both Europe and sub-Saharan Africa, the firm aims to achieve an equal distribution of investments across both regions in the future.