Impact investing fund for students launched in Nigeria
Tuesday, May 24, 2016
Venture Kinetics, led by Jobberman founder Opeyemi Awoyemi, and Passion Incubator have partnered the launch the FastForward Student Innovation Fund, an impact investing fund focused on innovations of students or recent graduates of Nigerian universities.
FastForward will invest cash and business support of between NGN250,000 (US$1,250) and NGN2 million (US$10,000) in exchange for equity stakes of between five per cent and 25 per cent in the startups.
The fund will be focused on websites and apps, but will also invest in technology-enabled innovation across consumer technology, enterprise, agriculture, health, environment and education.