Spark Venture Fund
The Spark Fund was launched in 2014 and invested in six mobile technology start-ups between 2015 and 2017. It invested on average $175,000 per start-up. It is full invested and focused on portfolio management.
In 2020 Safaricom made an additional $5 million allocation to the Spark Fund, and the Fund is subsequently open to invest in additional start-ups. The Fund can now invest larger amounts, up to $500,000 per start-up, and on a case-by-case basis larger amounts, in convertible notes or equity investment
The start-ups will be identified and selected through a deal pipeline managed by the fund manager, a partner of Safaricom and upon completion of due diligence process be presented to the Investment Committee for funding consideration.
Grow a portfolio of strategically-aligned tech-enabled start-ups for deeper commercial partnership and/or acquisition by Safaricom whilst Transforming lives
- Kenyan Presence
- A core team with diverse skills
- A tested, refined, product/service
- Commercially viable business model
- Active user database
- Generating revenues
- Partnership with Safaricom signed or being discussed
- Raising equity or quasi equity
The Fund Manager is S&B Ventures, a Fund Manager based in Kenya, who will source deals, perform due diligence and recommend the investments.
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