Rabat - Outlierz, a new seed fund with an investment of more than MAD 45 million has just been launched in Morocco.
Rabat – Outlierz, a new seed fund with an investment of more than MAD 45 million has just been launched in Morocco.
After three years of hard work on the ground, connecting entrepreneurs and building a startup community in Morocco, the new seed fund has been introduced to the Moroccan ecosystem for financing startups.
Created by entrepreneurs for entrepreneurs dedicated to startups, Outlierz is a Moroccan seed fund that targets African startups based both in the continent and internationally.
The fund is planning to invest tickets from MAD 500,000 to 2 million in startups at the pre-seed stage (startups with a prototype and initial customers), as well as in startups at the seed stage which already have a product on the market and have achieved a turnover.
Outlierz is trying to help many African startups that fail at pre-seed and seed stage because of a lack of appropriate resources, and provide them with smart capital.
“We want to enable brilliant entrepreneurs to grow successful business from Africa to the World,” says Outlierz Managing Director, Kenza Lahlou. “Thus, creating a curated deal-flow for early-stage investors and ultimately the success stories our continent needs.”
Outlierz is backed by successful entrepreneurs and angel investors including Michael Seibel, CEO of Ycombinator, and Hassan Haider, MENA Partner at 500 Startups, as well as some of the most successful tech entrepreneurs from Morocco and the diaspora who believe in the company’s mission.
Still in its qualification phase, Outlierz plans on moving to investment in the second quarter of 2017. The fund plans to invest in pre-seed and seed stage startups by investing USD 20,000 to 50,000 in past-idea stage startups with a viable prototype and a dream team, and from USD 50,000 to 200,000 as follow-up investment or participate in Seed round/Series A of growing companies with traction and revenue.
The fund will invest in Africa-based startups and in African entrepreneurs based anywhere in the world.
“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,” concludes Lahlou.