Kuramo
Gender Lens
Investing Initiative
Designed to catalyze the next generation of African female-led and diverse funds with gender-diverse investment teams
ACCELERATOR PROGRAM TO COMMENCE
JULY 2024
APPLICATION DEADLINE
MAY 24 2024
- Bridging Gender Capital Gap
- Elevating Diverse Perspectives
- Sustainable Investment Ecosystems
- Unlocking Untapped Innovation
The Gender
Finance Gap
- African women account for over 60% of MSMEs on the continent (~30 million WSMEs) yet there is a $42 billion gender finance gap.
In 2022, less than 5% of total funding raised by African startups in 2022 went to women-only teams, while female-founded startups, or gender-diverse teams, still only attracted -13% of Africa’s total equity investments. The scarcity of women- and diverse-led private equity and venture capital funds means less capital directed to women entrepreneurs.
Our Theory of Change
- We believe that the fastest way to unlock capital for female entrepreneurs and gender-smart businesses at scale is to invest in female- led and gender-diverse fund managers.
Research has shown that gender-diverse investing teams are 2-3 times more likely to invest in a female CEO or gender-diverse founders. Diverse founding teams, in turn, generate better returns for investors with a 20% higher net internal rate of return (IRR) in global emerging markets.
Our Gender Lens Investing Initiative
An innovative approach to nurturing women-led and gender-diverse funds
Our Gender Lens Investing (“GLI”) initiative is designed to catalyze the next generation of African female-led and gender-diverse funds. The initiative is comprised of three distinct platforms – The Moremi Accelerator Program, Warehousing Facility, and Moremi Fund, underpinned by a common shared network.
Accelerator
A dedicated program focused on providing institutionalized training through a structured curriculum, technical assistance and mentoring from early-stage fund managers
Warehousing Capital
An innovative capital solution to provide concessional intervention/working capital to gender smart funds to expedite track record development and propel them toward a successful first close
Fund of Funds
Our Moremi Fund will anchor and catalyze over a dozen new gender-smart fund managers in Africa. The fund will adopt a gender-smart, multi-manager and multi-asset class approach.
Our Moremi Network is an ecosystem of fund managers that collaborate, share best practices, research, management insights and potential investment opportunities.
The Moremi Accelerator Program II (MAP)
The Moremi Accelerator Program is an intensive 4-week program that provides structured training and technical assistance to early-stage fund managers actively fundraising. The accelerator will cover the fundamental aspects of fund structuring and management, ensuring participants are equipped with essential skills to set up a fund, fundraise and engage Limited Partners, and manage a fund.
Criteria
- First-time or early-stage African fund managers in the process of raising a fund or are close to first close;
- Diverse, indigenous African-owned and led-fund with at least 30% female ownership or clear intent to meet ownership target in the next 12 months;
- First-time or early-stage male fund managers must demonstrate a gender- diverse team at partnership, governance, and senior management levels or commitment to achieve this within 12 months;
- Fund must be operational or intended to be operational within the African region i.e. directly benefit the African region;
- Preference will be given to the following funds: ■ Funds investing in African SMEs with large job creation potential ■ Funds with an investment that directly benefits African WSMEs ■ Funds investing in sectors with a disproportionate impact on women and youth;
- Eligible funds will invest in at least one or more of the following sectors: ■ Agriculture ■ Healthcare ■ Digital Financial Services ■ Creative Economies ■ Renewable Energy ■ Climate Adaptation and/or Mitigation
Key/Indicative Dates
The Accelerator is currently scheduled to commence July 2024.
The deadline for application will be Friday, May 24, 2024.
Application Process
Anne Njuki
"I really feel the support of the Moremi Accelerator Program and the Kuramo team
in the fundraising journey. I’m not going through the journey alone. Thank you!"
Mandy Nyarko
"Thank you for accepting me into this phenomenal program. I have grown as a
fund manager in my mindset and strategy. Thank you so much for the opportunity."
Lindy Larson
"The expertise, creativity and commitment of the team were evident at every step
of the way and I’m deeply appreciative. Thank you for your outstanding efforts
and dedication to increasing the representation of female-led African VC funds."
Questions & Answers
Have any questions? Find answers here.
About Us
Kuramo Capital Management
Kuramo Capital Management is an independent investment management firm that provides targeted global investment management services to institutional clients and ultra-high net worth individuals, focused on alternative assets in emerging and frontier markets.
Kuramo Foundation for Sustainable Development
Kuramo Foundation for Sustainable Development (KFSD) is a non-profit organization with a mission to enhance the economic progress of people in Africa and increase access to capital for sustainable development on the continent with a focus on education, gender, and climate action.
The Moremi Accelerator Program II will officially commence in July 2024. The accelerator is a hybrid training program that involves series of virtual and in-person workshops during the training duration.
Before completing the application form, a fund manager should have the following:
A well-defined investment thesis for the fund; Actively in the process of raising their first fund; Operating in Africa; Be willing to commit a minimum of 5 hours per week to the completion of the course curriculum and participation in other activities of the Accelerator; At least 30% female
representation in leadership/ownership within their organization; and a strong investment