A new Morocco-based seed investment fund, dedicated to providing smart capital to African startups, has been launched. The new seed fund, called Outlierz, is backed by some renowned US and African serial entrepreneurs and angel investors.
The Outlierz seed fund is the culmination of three years of hard work which involved connecting entrepreneurs and building a startup community in Morocco from the ground up.
“We started from a simple yet striking conclusion: too many startups fail at the pre-seed and seed stages because of a lack of appropriate resources. We intend to change that by providing smart capital to the continent’s most promising companies. The target outcome will be a stronger pool of high potential startups that are ready for subsequent investment and, in the end, lead to success stories that are uniquely African,” said Kenza Lahlou, founder and MD, Outlierz.
The fund is backed Michael Seibel, CEO of YCombinator and Hassan Haider, Partner MENA at 500startups, as well as some of the most successful tech entrepreneurs from the Moroccan and African diaspora such as Hicham Oudghiri, co-founder of Enigma.io, a successful big data company based in New York.
The firm invests time and money at pre-seed and seed stage, with the ticket size ranging between US $50,000 and US $200,000. More than just money, Outlierz also provides entrepreneurs with smart capital through its unique network, mindset and advice.
Outlierz considers pre-seed stage startups with an MVP or a prototype who demonstrate they can execute. Seed stage startups who are expanding and raising their next round of funding, whether it’s a seed or Series A round, are also eligible candidates. Before investing money, Outlierz runs a qualification phase to work closely with entrepreneurs, provide them with advice and validate their ability to execute.
Applications are open for startups based anywhere in Africa. However, startups dedicated to Africa based anywhere in the world are also encouraged to apply.
Launched in February 2017, Outlierz is a seed investment firm that invests smart capital to grow investable startups in Africa.