The Mennonite Economic Development Associates (MEDA), a global non-profit organization focused on economic development and entrepreneurship, has partnered with the Obuntu Foundation to support the third cohort of the Obuntu Launchpad Program. The collaboration between these two entities is set to enhance the skills and resources available to emerging Africa-focused fund managers. The Obuntu Launchpad Program, which is designed to provide essential tools and expertise for early-stage fund managers, aims to optimize fund outcomes and expand the impact of these managers within an African context. African fund managers are now invited to submit their nominations to join this transformative initiative.

The Obuntu Launchpad Program: Enhancing Fund Manager Skills

The Obuntu Foundation, a catalyst for the next generation of Africa-focused fund managers, announced this strategic partnership yesterday in Nairobi, Kenya. This collaboration underscores MEDA’s commitment to fostering economic growth and entrepreneurship in Africa. As part of the partnership, the call for nominations to the Obuntu Launchpad Program is now open, encouraging African-focused fund managers to advance their investment approaches and contribute significantly to the continent’s entrepreneurial landscape.

The Obuntu Launchpad Program is a 12-month initiative that offers tailored training, limited partner (LP) engagement opportunities, and a collaborative network for knowledge sharing and deal flow. Supported by MEDA, the program equips early-stage fund managers with the necessary skills to build and operate successful funds within the unique context of African markets. The fellowship includes practitioner-led sessions by industry experts such as Lewam Kefela (Partech), Andreata Muforo (TLcom Capital), and Fope Adelowo (Helios), providing invaluable insights and guidance to the participants.

Successful Track Record of the Obuntu Launchpad Fellowship

Since its inception in 2022, the Obuntu Launchpad Fellowship has successfully run two cohorts, supporting 24 fellows representing 21 funds with a combined target Assets Under Management (AUM) of $281 million. Notable alumni include Yewande Odumoso (Founding Partner, HoaQ), Aly El Shalakany (Managing Partner, Acasia), Thandeka Xaba (Managing Partner at Digital Africa Ventures), and Emmanuel Adegboye (Head, Madica). These alumni are actively investing across Africa, covering countries such as Egypt, Morocco, Nigeria, Kenya, Tanzania, Uganda, Namibia, Botswana, South Africa, Zambia, Mauritius, Côte d’Ivoire, and Senegal.

The fellowship program is committed to nurturing a vibrant ecosystem of skilled and innovative fund managers. Highlighting its impact, 58% of the fellows are female, and the alumni base spans eight African countries, representing Anglophone, Francophone, and Arabic-speaking regions. By supporting diverse and talented fund managers, the program contributes significantly to the growth of the venture capital ecosystem in Africa.

The partnership with MEDA is set to strengthen the Obuntu Foundation’s mission of empowering African fund managers and attracting significant investments from both local and international backers. This collaboration injects vital capital into a continent where startups are often underfunded but have immense potential. Wambui Kinya, Co-Founder of the Obuntu Foundation, expressed excitement about the partnership, stating, “We are excited to join forces with MEDA, an organization that shares our passion for empowering African entrepreneurs and driving economic development. This partnership serves as a validation of our successes to date and will significantly enhance our Launchpad Fellowship, providing our Fellows with unparalleled access to MEDA’s vast network, resources, and expertise.”

MEDA’s Commitment to Sustainable Growth in Africa

Dr. Dorothy Nyambi, President and CEO of MEDA, emphasized the importance of the partnership, saying, “MEDA is thrilled to partner with the Obuntu Foundation as we need to do everything it takes now to build a continent with shared prosperity and sustainable, inclusive growth. This partnership is critical and represents our shared commitment to strengthening the impact investment ecosystem in Africa by enabling more women to lead investment vehicles, thereby unlocking the full potential of African entrepreneurship to job creation for women and youth via investments in small and medium-sized enterprises.”

Nominations Open for the Obuntu Launchpad Program

Nominations for the Obuntu Launchpad Program are open until June 9th, inviting active Africa-focused VC fund managers who meet the following criteria: diverse profiles ranging from local startup and corporate operators to experienced senior roles within a VC fund, prior experience investing in Africa, and an active pursuit of building their new fund. Interested candidates can submit their nominations through the provided nomination form here.