Constant Ventures launches $100M VC Fund West African Startups

Constant Ventures, a division of Constant Group, is establishing a $100 million venture capital fund focused on economic growth, healthcare, and education.

The fund’s original investee organizations will be in Nigeria and Ghana, with plans to grow throughout West Africa.

Recent advances in digital technologies provide a number of opportunities to both build and scale solutions to various difficulties faced by millions of Africans, including the coalescence of segmented value chains, the formalization of key segments of the continent’s economy, and the provision of much-needed access to capital for consumers and businesses.

Constant Ventures’ unique structure allows it to invest in highly skilled innovators and convincing startups throughout West Africa. Through its venture studio, Constant Ventures also serves as a catalyst for the bringing together top-of-the-line ideas, entrepreneurs, capital, and capital to quickly create winning startups.

Constant Ventures was able to launch the fund because of its outstanding track record as both an angel investor as well as a renowned developer of technology firms.

It has made investments of approximately 3.2million in Nigerian companies so far. The return on investment is 5.6x. After the next fundraising round, it will likely increase to 15x.

“We are really delighted to be introducing this fund,” says Ike Echeruo, chairman of the Constant Group and co-founder and founding partner of Constant Ventures.

It’s been a decade in the building, the result of extensive research and due diligence in preparation for the day when breakthroughs in IT would allow start-ups throughout West Africa to economically address actual societal needs.

Technology was always going be the solution to many of the problems millions of people in Africa face today.

We are at the edge of a paradigm shift thanks to recent advances in information technology. This will offer an unparalleled opportunity for investors. We’ve looked at what’s worked in other parts of the world.

We’ve now designed a fund to invest in firms that will both enhance the lives of millions of people and generate great returns for investors, streamlined and optimized for Africa.”

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