Mustard, an Africa-focused venture capital agency, has launched its Ideas Step Programme, a £4m investment vehicle to build storytelling-driven tech companies early on.
According to the London-based company, the development aims to create Africa-focused businesses that can resonate with a global audience, as it will be designed to play the role of both investor and builder from the start. earliest possible stage.
In addition to identifying visionary, experienced and influential people with scalable business ideas, the company said it will provide the capital and expertise in engineering, design and storytelling to explore a business before it even takes off. be constituted.
The company also said that it aims to provide its investors with VC-like returns within 5 years, as opposed to the typical 10-year return approach of African venture capital firms with its expert team that understand ; Ndubuisi Kejeh, Founder of Mustard, Parminder Vir OBE, award-winning film and television producer and former CEO of the Tony Elumelu Foundation; Chris Williamson, MD of Mpesa at Vodacom; Eunice Chou of Africa VC Partners EchoVC, and Dudu Sarr, longtime friend and manager of Grammy Award winner Youssou N’dour.
What they say
Parminder Vir OBE, said, “Africa has many stories to tell, and over the past twenty years the story of its resilient youth seen through the growth of tech startups has been one of the most significant. For the past four decades I have worked to bring stories from Africa and other cultures to the world through film and television, and I believe Mustard’s approach will help to do the same through storytelling. meaningful brands it builds for technology companies.
Seni Sulyman, said, “From the first time I learned about Mustard’s thesis and idea-stage investing approach, it seemed really powerful. I can’t wait to see what comes next from the Mustard team because I want to see African brands go global, which will not only mean massive changes for the continent, but also for its place in the world.
Thebe Ikalafeng, said, “Africa has the culture, drive and talent to create world-class brands, but over the years the rhetoric and desire have not been matched by production. Mustard’s storytelling philosophy, hands-on approach to building and investing, and a focus on influential founders might be the change we need to change the status quo.
Eghosa Omoiguisaid, “Mustard’s expertise in building businesses at the earliest possible stage, combined with a strong philosophy on brands, resonated with us for quite a while. African startups and their brands need to go out into the world for many reasons, among them access to wider consumer markets. Mustard’s idea-stage investment approach is unique and shows why a mix of approaches is what a growing startup ecosystem needs.