On the cusp of a paradigm shift, Constant Ventures, a part of the Constant Group, is launching a $100 million venture capital fund to invest in fintech, edtech, healthcare, and logistics startups in West Africa.
According to Ike Echeruo, Chairman of the Constant Group and co-founder and Managing Partner of Constant Ventures, the fund has been a decade in the making, with deep-dive research and due diligence in anticipation of this moment when advances in information technology would enable start-ups across West Africa to commercially address real societal needs.
Recent advances in digital information technology provide an opportunity to build and scale solutions to everyday challenges faced by millions of Africans, particularly in the areas of financial inclusion, education, and healthcare.
Constant Ventures has a unique structure that enables investment either directly in talented entrepreneurs and compelling start-ups across West Africa or through its proprietary venture studio, which serves as a catalyst to combine best-in-class entrepreneurs, ideas, and capital to quickly build winning start-ups.
With a successful track record as an angel investor and developer of technology businesses, Constant Ventures has invested US$3.2 million in nine Nigerian start-ups, with a return of 5.6x, projected to return 15x after the next funding round.
Investee companies will initially be located across Nigeria and Ghana, with the fund set to target the wider West Africa region.
