Alyx Carolus
1 min read
Growth Capital by CcHUB
Sector: Social Venture, Tech
We're a venture fund focused on investing in early-stage technology ventures building consumer internet and infrastructure that will power Africa's digital economy.
Founded in 2017, Growth Capital is a social-innovation fund sponsored by Co-Creation Hub (CcHUB), one of the biggest tech-innovation hubs in Nigeria. Growth Capital invests in social enterprises that have viable long-term solutions to help with Africa’s overall infrastructure deficit. Its mission is to help improve public service in sectors like healthcare, ecommerce and technology. The fund offers financial support of $50,000–$250,000 depending on its review of the startup’s needs and viability.
Growth Capital also has an extensive network and connects entrepreneurs to their peers and mentors, who can offer expert advice across sectors. An in-house incubation team helps startups to consolidate their team, develop and implement appropriate processes and adopt efficient governance structures, all with an aim of facilitating growth. It also provides support with product development including research and usability engineering, development, testing and feedback. The company is an active member of the Lagos ecosystem and hosts events to help founders access new talent and make connections. It actively engages with entrepreneurs and stakeholders to stay knowledgeable about the markets it is involved in.
The fund currently has six companies in its portfolio, with plans to expand if opportunity arises. This includes Lifebank, a Nigerian startup that delivers critical medical products such as lifesaving blood supplies to hospitals, and Drugstoc, which created digital infrastructure allowing hospitals and pharmacies to access general drugs at an affordable price point.
Checklist:
Have a solid team with an experienced track record.
You should have a team that has the expertise to execute the service or product. Preference is given to companies with a tech founder.
Be an operational business with revenue.
You should be able to show evidence of revenue generated for at least twelve months and have a healthy financial track record.
Offer a solution with impact.
Your solution should solve a pressing issue in the local infrastructure and have a positive impact on the local community.
Have a product that can scale across Africa.
Your product offering should be able to work around Africa, regardless of language or cultural context. You should be able to identify how your product would work in multiple markets.