New venture capital to focus on female entrepreneurs
Betelhem Dessie and Noel Daniel, noted entrepreneurs, are teaming up to start Kudu Women, a venture capital company that will have a USD 1 million, female-entrepreneur focused fund, to invest in the next generation of innovators.
Described as one who has "developed multiple tech solutions to pressing issues and is currently the Project Manager for iCog Anyone Can Code & SolveIT,” the 20 year old Betelhem said that the initiative intends to help women entrepreneurs by creating the fund for young entrepreneurs, where 32 percent of the population is made up of women under the age of 25.
"Unfortunately, at the moment we only have Samrawit, Founder of Ride & Betelhem Dessie, as the only tech female entrepreneur role models for the over 50 million women we have in Ethiopia," Noel Daniel said adding, "This prompted us to launch Kudu Women, Ethiopia’s first women tech fund. We are dedicated to investing USD 1 million in over 100 African female entrepreneurs by 2022." "Betelhem’s addition to Kudu also makes her the world’s youngest Venture Capital partner and we hope to set a trend in investing in young female tech entrepreneurs like Betelhem.”
Noel told The Reporter that; “Given her proven track record and extensive experience in the tech/startup ecosystem, we believe that there is no one else better than Betelhem to invest, motivate and empower the next wave of female innovators. We have committed USD 1 million but are raising additional rounds of capital in 2020."
Betelhem is expected to run Kudu Women.
“I am ecstatic and excited to announce that I am joining Kudu Ventures as a Partner. We will soon be launching our female-entrepreneur fund, Kudu Women. This initiative will be a great addition to the Ethiopian market as it empowers women and push their involvement in tech as well as other business sectors. I am looking forward to providing capital & technical training for female founders through this new partnership,” said Betelhem.