As part of the program, all startups that graduate from the Founder Institute Luanda will be reviewed by Pacer Ventures for potential investment in their seed or pre-seed round of funding.
This development follows the announcement of Founder Institute as a strategic partner of Pacer Ventures for Africa’s early-stage start-ups that are solving some of the most critical problems on the continent. Pacer Ventures ( https://pacer.vc/) , which looks to solve the world’s most critical problems and increasing the rate of tech adoption at the bottom of the pyramid. This essentially ensures that Pacer VC’s purpose is aligned with FI’s mission to empower communities of talented and motivated people to build impactful, technology-enabled companies worldwide. “FI is quickly becoming the gold standard for pre-seed acceleration in Africa,” says Ryan Micheletti, Head of Global Operations for the Founder Institute.
The Managing Partner of Pacer Ventures, Gbemi Akande, sees value in formalizing the partnership with the Silicon Valley-based program. “Our partnership is in line with what Pacer VC was set up to accomplish. By partnering with Founder Institute, we at Pacer VC will accelerate our mission of supporting early-stage companies. It is a win-win, and we look forward to a mutually beneficial collaboration with FI Luanda.”
“The opportunity to count on a partner like Pacer VC will act as a catalyst in FI Luanda's effort to be a regional reference in the promotion of technology-based entrepreneurship, not only by creating businesses but also by leveraging fundraising and the support needed to ensure the growth and scalability of Angolan startups”, says Haymée Cogle, Local Director of FI in Angola.
Geoffrey Weli-Wosu, who is a General Partner at Pacer Ventures, said, “Founder Institute stands out as one of the top pre-seed accelerators across the African continent. Pacer Ventures is committed to supporting startups coming out of the program who can support the transformation of the continent.”
Founder Institute Luanda (FI Luanda), launched the 1st Acceleration Program in Angola in October 2018. In the two previous editions, 20 entrepreneurs (Founders) graduated, and 19 Startups were created. The FI Luanda is part of the Global Network of Founder Institute, the largest Accelerator of pre-seed Startups in the world, based in Silicon Valley and present in more than 180 cities, 15 of which in Africa.
As the technology continues to power the growth of startups across Africa, we believe this partnership will open up evolutionary growth to FI founders within the FI Luanda network and revolutionary growth to the tech and business landscape across Angola.