Since its launch nine years ago, Seedstars has invested in 81 companies in over 30 emerging markets. Now it’s set a goal of investing in 100 more startups with the launch of its second emerging market seed-stage fund, called Seedstars International Ventures II (SIV), with a first close of $20 million. The fund is expected to total $30 million, and its limited partners include the International Finance Corporation (IFC), Visa Foundation, The Rockefeller Foundation and Symbiotics. The firm’s goal is to invest in pre-seed and seed-stage startups in Asia, Africa, the Middle East and Latin American over the next three years, with follow-on investments up to Series A.
Some examples of Seedstars’ portfolio companies include Pakistan e-commerce startup Dastgyr; Saudi Arabian cloud-based point-of-sale and restaurant management system Foodics; Indonesian workforce marketplace MyRobin; Latin American restaurant CRM OlaClick; and Nigerian B2B marketplace Omnibiz.
Patricia Sosrodjojo, partner at Seedstars, told TechCrunch that the second fund’s investment thesis is similar to its predecessor: to come in at very early stages, in tech ecosystems in emerging markets, and look for startups that have the potential to make a wide impact.
“I think of it as three different levels,” she said. “The first one is the fact that we’re coming in very early, we’re usually one of the first institutional checks after the angels so we can help catalyze capital. The second is the countries we cover, where...
Read Full Story: https://techcrunch.com/2022/07/24/seedstars-launches-second-fund-to-invest-in-100-startups-in-emerging-markets/
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