With the growing startup ecosystem in the world and the funding gaps that local founders face, backed by a $5 million fund, likely to extend to $10 million, FrontEnd Ventures, focuses on Kenyan startups, especially those with women founders.
Led by a team of creative problem solvers that identify, invest, and help build world-class African innovations, the venture capital fund is committed to supporting local and diverse founder teams that are passionate about innovating and changing their value chains.
With the objective of investing in the next generation of Kenyan-tech success stories, FrontEnd is targeting impact-driven tech startups in various industries including agriculture, e-commerce, health and transport.
FrontEnd is looking for :
LOCAL & DIVERSE FOUNDER TEAMS : The firm looks forward to working with diverse founding teams because they believe representation and diversity catalyses local innovations into global enterprises.
GROWING & THRIVING MARKET : Companies that are operating in a market that is dynamic, large, evolving and receptive to disruption on an international level.
TRACTION : Ventures that have a product out in the market with customers that are excited to use, customers that are sticky and have begun revenue generation.
IMPACT : teams that are passionate about impacting the value chains they work within and address challenges that exist in their communities.
The VC has already started issuing its first tickets of up to $100,000 but is keen on making follow-on investments in startups under their portfolio with the intention to have follow-on investments of up to $500,000 in series A. The VC is also considering a tech-as-a-service arm that can extend services to startups, helping them build faster.
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