A new Fledge fund invests in Uganda sanitation venture JOELEX. Fledge runs an accelerator program and raises funds to back graduates.
JOELEX builds and runs public toilets and showers in Kampala, Uganda, where as many as two million people in slums have access to only 1,000 public toilets. Fledge has invested $20,000 in JOELEX, a recent accelerator graduate, and introduced a new sanitation fund to direct other investors’ capital to the startup.
The impetus of this fund was rather simple. A small handful of investors saw JOELEX’s pitch on Demo Day (below), talked to Joel, and decided to invest. These investors understand the benefits of diversifying investments and the likelihood of Fledge finding other water and sanitation companies in the coming year or two and thus rather than creating a syndicate of Angels for one investment, they asked Fledge to set up a new fund for this purpose. The Sanitation fund was born.
With these funds, plus the last of the $20,000 investment from the accelerator, JOELEX will expand from one to three facilities.
Fledge’s other funds include Africa Eats, a food and agriculture fund that made three investments in March. Of the three investments included Geossy – a Ugandan aquaculture venture, in the form of a blended fixed-rate loan of USD 170,000.
Fledge helps impactful entrepreneurs take their ideas into reality and prototype-stage companies into growth, via an intense, 10-week program of guidance, education, and massive amount of mentorship.