Africa Seed Stage Venture Capital Company

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100X Capital is an offshore venture capital firm focused on high-growth opportunities in Africa.

Company: 100X Capital LLC

Fund Size: $20,000,000

Focus: High-Growth Tech (Early Stage)

Min. LP Investment: $ 2,000,000

Max. LP Investment: $10,000,000

Location: Incorporated in Mauritius for Financial, Legal, and Tax Benefits.

Hurdle Rate: 6% Per Annum

LP Carried Interest: 80%

Industry Focus: Media & Entertainment, Data and Analytics, Fintech, Pharmaceutical/Drugs, E-Commerce, Hospitality, Software, Healthcare, Mobile, Technology Focus: Artificial Intelligence, Big Data, Analytics, Machine Learning, Block Chain, Hardware

Contacts: Jon Gosier, General Partner

Jeff Muchnik, Managing Partner

The 100X Capital philosophy provides an outlet for limited partners to engage with emerging technology opportunities in Africa. Our strategy fosters success through a careful curation of venture investments and our Fund’s ability to drive commercial success to the ventures in our portfolio, accelerating revenue growth in order to help them reach exit.

Why 100X Capital?

100X is a venture capital fund primarily targeting value-add ventures across Africa. Part of our strategy is to leverage relationships with major international companies and the marketplace on behalf of our portfolio companies. The foundation of the fund relies upon a value creation model which creates lucrative partnerships between large established corporate brands and innovative portfolio investments.

The fund intends to invest early and provide the hands-on-approach to resources through a built-in advisory arm with business and enterprise development specialists rather than the connection driven, hands-off-approach that currently exists presently in the majority of funds. This lowers risk significantly as it gives us more visibility into company operations, allowing us to help course-correct if there are internal challenges .

Investment Strategy

The General Partner expects the Partnership to target investments in growth-stage companies that show high potential for exit in Africa. Assets will be held in Mauritius for financial, legal, and tax benefits to LPs. Individual investments in the debt or equity of any one company are expected to be less than five percent (5%) of the total capital commitments of the Partnership. The General Partner anticipates that the investment portfolio of the Partnership will be diversified by industry and type of collateral securing the investments for the Partnership. The General Partner expects to leverage its considerable connections in the venture capital industry to source potential co-investments for the Partnership, including through notable tech accelerator programs (examples include VC4Africa, 500 Startups, Y-Combinator, TechStars, and other acceleration programs of a similar nature), accelerator programs that the Partnership will partner with (as described further below), and professional networks (examples include TED, TED Fellows, Goldman Sachs 10,000 Small Business, and other similar programs). The General Partner anticipates that the Partnership will source investments originating from these sources as well as the broader market.

Key elements of the General Partner’s investment process include: (i) identification of qualifying growth-stage companies, utilizing both conventional and proprietary sources of deal flow, (ii) using the General Partner’s screening criteria, including by leveraging third party diligence, considering an appropriate spread between fundamental and perceived market value; (iii) conducting a thorough analysis of the prospective investment, including a liquidation analysis of more mature companies to help quantify the investment downside; (iv) submitting the investment to the Board for approval; (v) identifying and negotiating the investment structure that the General Partner believes is most appropriate for the Partnership; and (vi) actively monitoring such investments, until an appropriate exit opportunity arises.

The General Partner and the Principals expect that they will benefit from a relationship with a board of industry advisors (the “Industry Advisory Board”) who will informally assist the General Partner in its due diligence and other investment review efforts. It is expected that the Industry Advisory Board will change over time based on needs of the Partnership and the General Partner and include individuals with experience in venture capital, private equity, fundraising, technology and other strategically important areas.

10 Years of African Investment Experience

The 100x team has been operating across the African continent for the past decade. As part of his involvement, the General Partner brings an operating team he has worked with since 2008. He and his team have a very high-profile throughout Africa, having founded the first tech/innovation hub in Africa and a network of such hubs that now extends to 90 African cities, 30+ African countries, and 20+ African Universities. Their collective efforts have attracted the financial backing of the U.S. Department of State, billionaire Pierre Omidyar, The World Bank, World Economic Forum, the United Nations, Google and many others.

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