In a strategic move to strengthen its existing footprint in the vibrant African startup ecosystem, Flat6Labs, the leading seed venture capital firm in the MENA (Middle East and North Africa) region, proudly welcomes Christine Namara as Partner for its Africa Seed Fund. With more than a decade of profound experience in private equity, startup operations, and venture capital, Namara brings unparalleled expertise and an extensive network to Flat6Labs’ recently announced US $95 million Africa Seed Fund (ASF), aimed at nurturing early-stage tech startups across Africa.
Africa Seed Fund has three key focus investment regions: North Africa, West Africa, and East Africa, which will see Flat6Labs expanding its footprint into East and West Africa. Namara’s regional expertise will be instrumental in establishing and managing such a presence, ensuring a seamless integration with the local startup ecosystems. Over the next five years, ASF aims to invest in more than 160 early-stage startups operating in the technology sector in Africa.
Describing herself as “vigorously pan-African,” Namara has extensive experience within the African technology ecosystem. Her remarkable journey has seen her transition from the operational side to the dynamic world of venture capital. In her previous roles at two prominent high-growth startups in East Africa, Namara honed her skills in B2B sales, people management, and product management. Prior to joining Flat6Labs, she was the lead of capital ventures at a reputable accelerator for early-stage start-ups in Africa. This diverse background has afforded Namara an intricate understanding of the multifaceted challenges and opportunities that early-stage entrepreneurs encounter in the ever-evolving African tech landscape.
In joining Africa Seed Fund, Namara assumes a pivotal position in identifying, nurturing, and supporting innovative startups. Her vast experience in private equity and venture capital equips her with unrivaled knowledge and strategic insights, making her an invaluable asset to the fund’s mission.
“With innovation as our compass and collaboration as our engine, I am honoured to join Flat6Labs, a pioneering force in shaping Africa’s entrepreneurial landscape. Together, we will embark on a transformative journey, unlocking the vast potential of startups across the continent. In this interconnected world, every idea has the power to change lives. I am excited to champion these innovations, catalyzing progress and leaving a lasting impact on communities in Africa and beyond,” Namara says.
General Partners of Africa Seed Fund Dina el-Shenoufy and Ramez El Serafy highlighted that Namara’s appointment is a significant step for the company’s African expansion journey. Her wealth of knowledge, coupled with her extensive regional network, will be invaluable to the team as we continue to support and nurture innovative startups on the continent through the Africa Seed Fund which is potentially expected to impact the continent with more than 14,000 jobs, provide support to more than 1,200 founders with 20% female participation, and generate revenue of more than US$700M.
Riyadh Valley Company, the investment arm of King Saud University and a prominent player in the investment landscape of Saudi Arabia, is delighted to announce its strategic investment in Flat6Labs’ Startup Seed Fund, a move that solidifies its commitment to supporting the growth and development of the region’s vibrant startup ecosystem.
This investment marks a significant milestone in Riyadh Valley Company’s mission to foster innovation, entrepreneurship, and economic growth within the Kingdom of Saudi Arabia. It is part of the company’s broader strategy to identify and partner with initiatives that have the potential to drive meaningful change in the region. The fund enables startups to receive follow-on funding up to SAR 2.4 million and the support and training programs provided by the program for select companies.
The Startup Seed Fund is a closed-ended fund that invests in early-stage startups operating in the technology and innovation sectors within the Kingdom of Saudi Arabia. The fund will adopt a highly diversified, systematic investment plan that aims to reduce the risks faced by venture capital and reduce the administrative and legal costs incurred by early-stage startups. The fund has invested in 20 innovative startups, with an investment value exceeding SAR 15,000,000.
Commenting on this strategic investment, Dr. Khalid Al-Saleh, CEO of Riyadh Valley Company, stated, “Riyadh Valley Company is excited to partner with Flat6Labs’ Startup Seed Fund LP. We recognize the incredible potential and innovative spirit of startups in the region and understand the vital role they play in advancing our economy. This collaboration is a testament to our dedication to providing the resources and support necessary to help these startups thrive and scale their businesses.”
Flat6Labs’ Startup Seed Fund has a proven track record of supporting and accelerating startups across various sectors. With Riyadh Valley Company’s investment, the fund is poised to further expand its operations, reach more entrepreneurs, and make a substantial impact on the region’s startup landscape.
Commenting on the investment, Eyad Albayouk of Flat6Labs, expressed, “We are thrilled to welcome Riyadh Valley Company as a strategic partner in our Startup Seed Fund. This collaboration will undoubtedly enhance our ability to support startups and drive innovation in the Kingdom. We look forward to working together to achieve our shared goal of fostering entrepreneurial success in the country.”
Riyadh Valley Company’s investment in Flat6Labs’ Startup Seed Fund underscores the company’s dedication to advancing the Kingdom of Saudi Arabia’s economic diversification goals and promoting a culture of innovation and entrepreneurship.