ImpactAlpha, February 8 – Female founders receive just 2% of venture capital in Africa (and about the same globally). Standard Chartered bank launched its Women in Tech program in Kenya in 2017 to usher more seed capital to women-led tech startups.
Women in Tech has provided about $450,000 to entrepreneurs participating in the program’s incubation cohorts.
Village Capital is partnering with Standard Chartered to use its startup acceleration and peer selection model to level up the capital available to Women in Tech participants.
The first two investments from the partnership went to Kenya-based Bena Care, which is building a network of affordable home care providers for patients with chronic illnesses, and Zambia-based Mighty Finance, a digital lender for women-owned micro and small businesses. Each company received $75,000 investments.
Village Capital’s programs have supported more than 1,400 startups globally since 2009.