New Investments

French VC Firm Ring Capital Launches €50 Million Impact Fund for Francophone West Africa

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French venture capital firm Ring Capital has launched Ring Africa, a €50 million impact investment fund dedicated to supporting early-stage startups in French-speaking West Africa.

The fund will focus on companies with a strong social and environmental impact, targeting those tackling climate change challenges, facilitating the region’s economic formalization, and improving agricultural productivity. Investments will range from pre-seed to Series A stages.

Ring Africa leverages the expertise of Mstudio, an Abidjan-based startup studio established in 2023.

Mstudio’s founders, Cedric Mangaud and Leslie Ossett, bring experience from co-founding Saviu Ventures and BuuPass, respectively.

They aim to adapt successful business models from English-speaking Africa to the Francophone market, focusing on solutions that empower the region’s vast informal sector, which employs an estimated 95% of the working population.

Mstudio has already invested in over eight startups across fintech, edtech, and social commerce.

“We are very pleased to partner with Ring Capital for their African fund, an initiative that marks a significant step forward for the Francophone Africa technology ecosystem,” said Mangaud.

“This partnership underscores our shared commitment to driving inclusive and sustainable economic development, recognizing the transformative potential of startups and technology in the sub-region.”

Ring Capital has also appointed Elisabeth Moreno, former French Delegate Minister for Gender Equality, Diversity, and Equal Opportunities, as President of its board.

Moreno will champion Ring Africa’s commitment to gender equality and inclusion while supporting the fund’s growth.

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