A team of entrepreneurs connecting entrepreneurs and building a startup community in Morocco for the past three years have launched a new seed investment fund in the country.
Called Outlierz, its aim is to provide smart capital to startups across Africa.
It will invest between $50k and $200k in pre-seed stage startups that have MVPs and can show they can execute, and provide investees with smart capital through its unique network, mindset and advice.
Also, the fund will invest in Seed stage startups that are expanding and raising their next round of funding, whether it’s a seed or Series A round.
“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,” said Kenza Lahlou, the firm’s founder and Managing Director.
She added, “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.”
Before investing, Outlierz will run a qualification phase to work closely with entrepreneurs, provide them with advice and validate their ability to execute.
Startups based anywhere in Africa can apply for the Fund by February 28, 2017. Startups that are based outside Africa but are dedicated to the continent are also encouraged to apply.
Outlierz is backed by Michael Seibel, CEO of Y Combinator and Hassan Haider, Partner MENA at 500startups, as well as successful tech entrepreneurs in the Moroccan and African diaspora such as Hicham Oudghiri, co-founder of Enigma.io, a successful big data company based in New York.