Female led angel fund, FirstCheck Africa, is set to invest up to $25,000 in what it describes as “ridiculously early” stage startups led by female entrepreneurs.
The angel fund made this announcement on Thursday, February 4, 2021, in its brief with the press, where it shared the inspiration behind the initiative.
Although, it says its goal is to help more female business owners scale, it revealed that its ideal startup must run with a viable business idea.
The FirstCheck Africa further revealed that this ambition goes in line with its mission to advance equity, capital and leadership for a generation of women in Africa through technology and entrepreneurship.
About the fund:
Founded by Eloho Omame (Endeavor Nigeria managing director) and Odunayo Eweniyi (Piggyvest co-founder), FirstCheck Africa is a female-led angel fund that invests in women.
FirstCheck Africa is interested in building a female-led investor community that creates opportunities for the middle tier of women, who are millennial or in their mid-careers, to invest in venture-backed startups by writing smaller checks.
Who should apply:
The first edition of FirstCheck Africa seeks audacious women that are determined to launch their first technology-enabled startups.
FirstCheck Africa will invest $15,000 – $25,000 in 6 women in 2021, with each woman getting support at the ideation stage and helped to raise a significant pre-seed round within 12 months.
The female led angel fund will act as active connector and partner, using their networks and resources to accelerate female founders’ efforts in Africa.
The fund will help these startups gain all-important early traction and raise the next stage of capital.
Subsequently, FirstCheck Africa will support them with learning and educational content and help them get off the ground floor by writing their own first checks.
Also, the angel fund investor community will focus on building the middle tier, creating opportunities for millennial and mid-career women.
- FirstCheck Africa will kick start in February, 2021 by hosing virtual general information sessions and AMAs for women in African tech.
- Later in the year after launching their investor community, the fund plans to begin to host learning sessions about technology and angel investing for intending investors.