88mph, an African seed fund and accelerator based in both Nairobi and Cape Town, yesterday announced partnership with eVentures Africa (eVA) Fund that will better link the two continents and investment opportunities for both parties.
eVA Fund is a European venture capital firm investing in Sub-Sahara’s African SME’s active in digital media. The Netherlands-based eVA Fund typically invests between $500,000 and $1.5 million in digital technology companies. Unlike any other partnerships eVA fund has entered into, the one with 88mph is geared towards improving early stage web/mobile startups’ chances for success.
eVA Fund, with its access to large investors, aims to review 88mph startups for follow-on funding opportunities.
As part of the collaboration between the two companies, eVA Fund will bring its key fund investors or limited partners to 88mph’s offices in Cape Town (April 21, 2013) and Nairobi (April 24, 2013) where they’ll be holding mentoring sessions and providing feedback to startups’ pitches.
88mph’s overarching goal is to bring more investment and attention to Africa. The company has partnered with Google for Entrepreneurs and is also funded by private investors including 4Di Capital, Hannes van Renburg, Fundamo CEO and Ranjith Cherickel, Head of Sales and Business Development, Africa at Nokia Siemens Networks, among others.