Africa GP Sprint Cohort: Accelerating Women-Led Investment Vehicles
(South Africa) The Project Catalyst report revealed US$ 7.9 billion in gender lens investments in private markets. While investment opportunities are growing, capital allocation to a new generation of fund managers offering innovative solutions is still low.
Thus, in April, 2X Ignite hosted women/diverse-led fund managers and potential investors for a three-day immersive boot camp into the journey of fund management to get financiers ready for prime time. The boot camp featured limited partners (LPs) and fund managers developing a genuine understanding of the dynamic challenges of operating an investment fund, and offered the fund managers to showcase gender lens investment opportunities on the African continent.
“Participating in the 2X Ignite fund manager boot camp provided invaluable insights, illuminating the critical role of warehousing capital for emerging female fund managers."
- Michael Brill, Senior Portfolio Manager for Equity and Fonds, KFW
The 2XI Africa GP Sprint is a six-month accelerator programme designed to boost the fundraising journey of women/diverse-led fund managers with gender-smart investing strategies across the African continent. The cohort was selected through a three-stage competitive selection process, including an interview with 2X Ignite and Kuramo Capital Management teams. The selected cohort represents diverse investment strategies and market approaches across Africa.
The eleven selected Fund Managers are:
Janice Rudo Sambaza and Rufaro Maunze-Bhebhe, Aisiki Capital
Jenni Chamberlain, Altree Kadzi Gender Climate Fund
Maelis Carraro, Catalyst Fund
Amanda Kabagambe, East Africa Growth Impact Fund
Nyeji Mhango and Yvonne MPala, Equifund 1
Hilina Resom and Addis Alemayehou, Kazana Fund
Diago Dieye, Khuwaylid Capital Fund I SAS
Aissatou Le Blond, Opera Green Industry Capital 4.0
Yvonne Ofosu-Appiah and Mandy Nyarko, Sahara Impact Ventures Fund I
Amaka Okechukwu Opara, WEAV Capital
Egla Ntumba and Jill Curr, MsFT Ventures
The boot camp was led by Elena Haba, 2X Ignite Lead, Christian Rangen, CEO of Strategytools.io, and Marijn Wiersma, Director of Community and Innovation at 2X Global. This event launched the 2X Ignite Africa GP Sprint programme co-hosted with and supported by Mennonite Economic Development Associates (MEDA) and FSD Africa.
"This partnership is vital for MEDA's mission to foster job creation, shared prosperity and inclusive growth in Africa," said MEDA President and CEO Dr. Dorothy Nyambi. "It strengthens our commitment to the African impact investment ecosystem, enabling more women to lead, unlocking entrepreneurship and economic growth, for job creation across the continent."
FSD Africa focuses on accelerating the mobilisation of early-stage capital in Africa, including addressing the funding gap for women and diverse GPs. Mary Kashangaki, Assistant Manager for Early-Stage Finance at FSD Africa, joined the boot camp and shared,
“2X Ignite’s immersive boot camp gave me insight into the journey GPs travel to effectively deploy a fund, shedding light on the challenges they often face along the way. We look forward to continuing to support the initiative and identifying further opportunities to develop a more inclusive investment ecosystem on the continent.”
Find out more about the fund managers here. They will work with the 2X Ignite team, and an extended team of handpicked strategic advisors, and investment professionals from across 2X’s global network who will bring in candid LP perspectives and provide concrete feedback to tackle their respective priorities and to ensure that they are best positioned for their fundraising journey.
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About MEDA
MEDA (Mennonite Economic Development Associates) is a global non-profit organisation established in 1953 that has created business solutions to poverty in more than 70 countries. With a strong presence in Africa, MEDA partners with entrepreneurs and small businesses in the agrifood ecosystem — facilitating access to tools and resources that contribute to job creation and stimulate economic growth to improve livelihoods. MEDA is the lead partner and investment manager of the Mastercard Foundation Africa Growth Fund, which is addressing financing and support gaps within the continent’s impact investing space.
About FSD Africa
FSD Africa is a specialist development agency established in 2012 by the UK Government working to make finance work for Africa’s future. We work on the ground in over 30 African countries to mobilise “green plus” finance that will power economic and social development while delivering environmental gains and building Africa’s resilience. We work on policy and regulatory reform, capacity strengthening and improving financial infrastructure and addressing systemic challenges in Africa's financial markets to spark large-scale and long-term change.
About 2X Global
2X Global is a global membership and field-building organisation for investors, capital providers, and intermediaries working in public and private markets, across both developed and emerging economies. We engage our global network through a series of activities that advance intersectional investment agendas, scale the field, shift mindsets, and facilitate capital deployment. These include a series of Communities of Practice, educational forums, shared resources, certification and standards, and deal-sharing platforms. 2X Ignite is one of the signature, holistic market-building solutions developed by 2X Global. This initiative will accelerate 100 female-led gender lens fund managers reaching 1,000+ gender-smart businesses across five regions.
