Greentec Capital is heavily invested in supporting
African startups that are dedicated to sustainable growth and making social and environmental impact. Their main focus sectors are agriculture, digitalization, and sustainable resources and this is reflected in their portfolio.
Founded in 2015, Greentec established
an office in Lagos in 2018. This was in a bid to give it better access to West African startups.
From 2018 to date, it has expanded into 12 African countries and as of 2019, had earned a revenue of €5.4M ($6.6M) from investee companies.
2020 was hard for investors and startups alike; startups faced funding problems but investors also had their struggles. Most investors struggled
with knowing which sectors would be most profitable to invest in and which would be risky. Despite the pandemic, Greentec Capital didn't slow down investments. It proposed
an emergency working capital program for startups to support local businesses.
The VC has lofty plans for the future. It expects
that by 2024, the direct value added would have increased from €4.6M to €42.7M and jobs being provided would have increased from 877 to 3,205.
While these plans are optimistic, Greentec capital’s investments still seem concentrated in the West African region and it would be interesting to see how far the sustainability agenda will extend into other parts of the continent.
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