A Kenyan has been selected to oversee a fund that is dedicated to supporting high-potential businesses in critical sectors in Africa.
Esther Ndeti who currently serves as Investment Principal at Uncap, which is a revenue-based financing fund, will manage Unconventional Capital that is a €30 million fund meant to support early-stage small and medium-sized enterprises (SMEs) in Africa.
This is after Ndeti has been named the Managing Partner of Unconventional Capital.
In overseeing the management of the €30 million fund, Ndeti will work alongside Uncap, Chief Executive Officer, Franziska Reh.
“We hope this Fund will address capital gaps for early-stage SMEs as they scale, deepening our impact,” says Ndeti.
Uncap which started operations in 2019, offers a Revenue-Based Financing model where early stage businesses in Africa secure capital to finance their operations then repay over an agreed period of time through a proportion of their monthly revenue.
“We invest in your potential, sharing the risks and rewards of your journey,” says Uncap on their website.
The firm has supported 87 companies in seven sub-Saharan Africa.
That is very great