Before you read on, I must say that this news is one that has been awaited for quite a while and we are happy that more corporate ventures are seeing an opportunity in the African startup market thereby commiting funds.
Orange Digital Ventures which was established in 2015, serves as a strategic Corporate Venture Fund of the Orange Group that invests in innovation projects in Africa in a variety of areas such as new connectivities, FinTech, the Internet of Things, energy and e-health.
Quite concisely, Orange digital ventures could be said to be an early-stage, risk-oriented Corporate Fund. The primary goal of the venture is to target start-ups offering responses to the challenges that are ravaging the African continent. They are leveraging their assets on the continent too.
This fund commitment by the Orange Digital Ventures would affect and help all innovative start-ups, whether they are based geographically in Africa or they address African issues from another continent. This is quite a good one from them.
So on how much commitment they are willing to give, they are committing 50 million euros which corresponds to half of the direct investments they made via the new Orange Digital Ventures Africa programme; while the other half is would be made to go to indirect investments through specialised funding for Africa.
To respond to the start-ups’ need for responsiveness and simplicity, a tram would be based in Dakar, Senegal.
Speaking on this latest development, Pierre Louette, Deputy Chief Executive Officer of Orange and Chairman of Orange Digital Ventures, made the comment below:
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“Since the beginning of Orange Digital Ventures, the new services and business models in Africa have been one of the priority investment themes of our corporate venture business. With this announcement, we are engaging a bit further alongside the African digital ecosystem, which like everywhere else and maybe even more than elsewhere carries with it a development challenge.”
Are you a startup? Do you think you are innovative enough? Would you like to be a beneficiary of this newest development? Then you can contact the Orange Digital Ventures Africa team via the website http://DigitalVentures.orange.com.