Founder Institute, an American business incubator, and the world’s largest pre-seed startup accelerator has recently announced their partnership with Pacer Ventures on 14th December 2020 as the ‘Investor in Residence’ for the Founder Institute’s African Accelerator program.
With a proven track record of seed-stage investments in startups solving Africa’s most critical issues with increased adoption of technology solutions at the grassroots of the economy, Pacer Venture earned the status of a strategic partner from their shared goals with Founder Institute.
The institute’s Alumni base cuts across over 100 countries addressing several African related development challenges and participating African startup graduates stand the chance to access seed or pre-seed funding rounds after undergoing reviews from Pacer Ventures, further expanding their impact in the continent.
According to Geoffrey Weli-Wosu, General Partner at Pacer Ventures, “Founder Institute stands out as one of the top pre-seed accelerators across the African continent.
Pacer Ventures is committed to supporting startups coming out of the program who can support the transformation of the continent.”
Plans are underway to foster a continuous expansion of Founder Institute chapters throughout Africa, attracting startups that share similar goals and provide scalable solutions that meet the market needs. Chukwuemeka Fred Agbata, General Partner at Pacer Ventures and FI Regional Director, in his statement said, “Africa faces many challenges, but within every challenge lies opportunity and young people are leveraging technology to solve these problems across the Continent.
It is our duty to inspire and fund the entrepreneurs who are building valuable solutions to our most pressing problems. Africa is the future, and investors and LPs are now becoming aware of this.”