London-headquartered, African-centred venture capital firm OpenseedVC has reached its initial stage of its $10 million fund for early-stage startups across Africa and Europe.

OpenseedVC’s inaugural $10 million fund is dedicated to supporting founders with domain expertise. The VC firm anticipates a second close by May next year.

Launched in 2024 by Maria Rotilu, an operator-turned-investor, OpenseedVC operates on a vision: to support from start to launch, experienced and diverse global operators in the commerce, health, and work niche in Europe and Africa.

The angel-style fund seeks to offer founders not only early-stage capital and confidence but also the backing of a community of over 50 experienced operators.

2/5 We are backed by LPs including founders, operators, and HNIs across Africa, Europe, and the US

At @OpenseedVC we are first investors of up to $150,000 in experienced operators, and bring a network of 50+ seasoned tech experts to support from start to launch#openseedvc

— OpenseedVC (@openseedvc) May 20, 2024

“If you’re supporting operators that have identified a problem and are making the leap into building their technology, you’ve likely recognized a common challenge: the need for capital and guidance from other experienced individuals. To address this, we focus on enhancing the operator network in four key areas,” General Partner Rotilu told TechCrunch.

“In the early stages, expertise in software engineering is crucial. You’d need someone who’s recruited technical talent, built teams and understands infrastructure design, offering invaluable firsthand experience. So if that’s the common thread, I would say firsthand experience is what we optimize for across software engineering, product, go-to-market and people and talent.”

The firm has already invested in two undisclosed AI startups in Nigeria and the UK, with plans to back at least 60 startups over the next five years.