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Growth Capital by CcHUB is Nigeria's first social innovation fund, established in partnership with the Bank of Industry (BOI), Venture Garden Group (VGG), and Omidyar Network. Launched to support early-stage businesses driving social change, the fund focuses on creating infrastructure for change through technology. Based in Lagos, Nigeria, Growth Capital aims to provide a path to scale for high-potential ventures, enhancing public services and connecting them to citizens.
The fund has a total size of approximately ₦1 billion (around $2.5 million) and has been actively investing in early-stage social enterprises since its inception. Growth Capital typically invests between ₦10 million and ₦30 million ($13K - $39K) in pre-seed, seed, and seed-plus stages. The organization has a portfolio of six companies, indicating its commitment to fostering digital infrastructure in Nigeria.
Notable milestones include its establishment as a pioneering fund in Nigeria's social innovation space, and its ongoing efforts to support ventures that leverage technology for social impact. The fund's focus on sectors such as healthcare, fintech, and civic-tech highlights its dedication to addressing local challenges through innovative solutions.
Growth Capital by CcHUB invests primarily in early-stage social enterprises that are building next-generation infrastructure in Nigeria. The fund's investment strategy encompasses a range of sectors, including healthcare, fintech, and civic-tech. It typically invests between ₦10 million and ₦30 million ($13K - $39K) to support early growth, team consolidation, and market expansion. The organization seeks innovative technology products that enhance public services and connect citizens to essential infrastructure.
The fund's investment thesis emphasizes the importance of leveraging technology to drive social change. Growth Capital aims to support businesses that are not only financially viable but also contribute positively to society. The organization prefers to co-invest, often leading or co-leading seed rounds, which allows it to provide strategic guidance alongside financial support. This approach enables portfolio companies to navigate the challenges of scaling their businesses in the Nigerian market effectively.
Growth Capital has invested in six notable companies that are developing digital infrastructure across various sectors. These companies include:
This diverse portfolio reflects Growth Capital's commitment to supporting ventures that address critical needs in Nigeria, particularly in the healthcare and education sectors.
To pitch Growth Capital, founders should use the preferred channel outlined on their [application page](https://gc.fund/apply/). The pitch deck should include a clear overview of the business model, market opportunity, and the social impact of the solution. Founders should expect a response within a few weeks after submission, and warm introductions are encouraged but not mandatory.
What are the investment criteria for Growth Capital?
Growth Capital invests in early-stage social enterprises that leverage technology to drive social change in Nigeria. The fund focuses on sectors such as healthcare, fintech, and civic-tech, and typically invests between ₦10 million and ₦30 million ($13K - $39K).
How can startups apply for funding?
Startups interested in applying for funding can visit the [application page](https://gc.fund/apply/) to submit their proposals. The application process is designed to evaluate the potential impact and scalability of the business.
What makes Growth Capital different from other funds?
Growth Capital is Nigeria's first social innovation fund, focusing specifically on early-stage businesses that drive social change through technology. Its commitment to enhancing public services sets it apart from traditional venture capital funds.
What is the geographic scope of Growth Capital's investments?
The fund primarily focuses on Nigeria, aiming to support ventures that address local challenges and enhance public services through innovative solutions.
What kind of support do portfolio companies receive post-investment?
Growth Capital provides not only financial support but also strategic guidance to its portfolio companies. This includes connecting startups with resources and opportunities that enhance their growth potential in the Nigerian market.
What is the fund size and check size range?
Growth Capital has a total fund size of approximately ₦1 billion (around $2.5 million) and typically invests between ₦10 million and ₦30 million ($13K - $39K) per investment.
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