MyC4 raises capital for African entrepreneurs, and in so doing is striving to become a significant tool in the fight to end extreme poverty. In December 2006, MyC4 received a grant of DKK 5 million (EUR 670) from the Danish Aid Agency (DANIDA) under the Ministry of Foreign Affairs to support the development of the MYC4 platform.
MyC4 A/S was founded in May 2006 as a joint venture between Mads Kjær, Kjaer Group A/S, and Tim Vang. Kjaer Group has been providing vehicles and automotive solutions to the international aid and development sector since 1962. Mads Kjær, former CEO and now Chairman of Kjaer Group, has 22 years of working experience from the African continent, has lived in Zimbabwe, Uganda and South Africa, and adds substantial insight into African business to the project. Mads Kjær is also the Honorary Consul for Ethiopia in Denmark.