Orios Capital, an emerging patient capital firm established to co invest into scalable and impact based startups in Africa, has announced plans to raise more than one million dollars.
The move is in line with the company's vision to become the name behind a global business giant from Africa. It also forms part of its strategy to engineer funding to Startups, helping bridge the funding gap to Startups in Ghana and Africa.Orios is expecting to raise its Seed Capital from Limited Partners, Donors and Private Equity firms.
According to a report entitled 'Accelerating Entrepreneurship in Africa', compiled in 2013 by the Omidyar Network, the philanthropic foundation established by Pierre Omidyar — the founder of e-Bay, in partnership with global strategy consulting film, Monitor Group; "venture capital in Africa is still an emergent phenomenon. This is because Entrepreneurs are forced to pursue bank loans which simply are not tailored for startups. Banks see startup investments as high risk, low reward and like to quote statistics that show 9 out of ten startups fail within the first five years of operation".
Three years on, the situation remains the same and Orios Capital is prepared to change this trend through its innovative business model, underpinned by the goal of social change and job creation as solutions to reducing Global Poverty.
In a statement, the Board Chairman of Orios Capital and past Chief Executive of Ghana's Volta River Authority, Mr. Kweku Awotwi, said “Our work is pivotal in redefining solutions to poverty reduction in Africa. We want to be the Fund that provides the Patient Capital needed to transform such businesses to achieve that mandate. We strongly believe that our strong Governance Structure and cumulative experience will serve as a differentiating factor in disrupting the private equity market for Startups'.
Some of the key sectors that Orios is investing in includes Healthcare, Technology, Services, Agribusiness, Clean Water, Formal Housing and Quality Education. Orios Capital is set to formally launch its operations later this year as it continues its own fundraising to seed Ghanaian Startups when it announces its first call for Proposals.
About Orios Capital
Established in 2012 as the Ghana Centre for Entrepreneurship, Employment and Innovation (GCEEI), providing training and support services for SME's in Ghana with an enviable track record of engagement within the SME Sector, Orios Capital has metamorphosed into one of Africa's emerging venture capital fund for start ups. The company has over the past four years trained over 5000 SME's and been the brain behind some of the most successful startups from Ghana including Wear Purple, Oasis Websoft, CellAfrique.net, UTAMA Africa Ltd, Chaste clothing, and BKC Consulting, AgroSoft Ghana Ltd. And pioneered key policies to help shape Ghana’s Startup Ecosystem. Currently the company operates from its Head office in Accra with intention to extend its services into other African countries within the next 3 years. For more information about Orios visit www.oriosgroup.com
Media Contact: John Armah, +233 541 888 877 , email:[email protected] .
Story by Myjoyonline
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