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Connecting Africa's Early Stage Investors
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New Networks, New Funds, and New Instruments 🌱


Dear <<First Name>>,

I am thrilled to say that angel investor networks are becoming increasingly common across the continent as a solution to filling the funding and mentoring gaps of African startups. To name a few, recent network launches include the Accra Angels Network (AAN), Mali Business Angel Network (MABAN), Dakar Network Angels (DNA), Benin Business Angels Network (BBAN), and the Gambian Angel Investors Network (GAIN).

As ABAN we are delighted to see the growing community of investors contributing their skills, knowledge, and networks to the businesses they invest in. To all new investors; may the force be with you - and with the entrepreneurs you support.
Further to new networks, we also see more and more funds, instruments, and partnerships coming on-stream. One great example - worthy of special mention - is the public-private co-investment fund that is currently being piloted by the Jozi Angels in partnership with TIA - the Technology Innovation Agency in South Africa. I hope this will inspire many more networks and government bodies to look at co-investment opportunities.

In early-stage fund news, new funds have been announced these past weeks in Benin (Noru Capital) and in Egypt (new $50 million World Bank fund). In South Africa, a new partnership between Kingson Capital and USAID should see an additional $10 million being invested into local startups. These announcements follow earlier announcements this year including the $100 million venture fund for Sub-Saharan African tech startups by Seedstars and the $168 million fund by Tunisia-based Africinvest.

One thing is certain. Five years from now we won't recognise the industry as it stands today. 
Jozi Angels Announces New Co-Investment Fund

Jozi Angels has reached an agreement with the Technology Innovation Agency (TIA) to co-invest alongside members of the Johannesburg-based investor network. This will be a pilot to develop stronger ties between the public and private sector.

“We are hoping the relationship will be the catalyst for growth in our investment space”  comments Abu Cassim, Jozi Angels Lead.


The high-level terms of the agreement include, amongst others:
- Co-investment from TIA will be on 1:1 basis
- Co-investment from TIA is limited to R500k per startup
- Preference will be given to companies founded by women;
- Preference will be given to cutting-edge technology developed in-house.
 
For more information please contact our Jozi Angels at www.joziangels.co.za
ABAN President Tomi Davies discusses the Prospects of Africa’s Tech Ecosystem on CNBC
What are the prospects of Africa’s tech ecosystem? Are African start-ups well equipped to face the changing dynamics of the tech ecosystem?

Tomi Davies, President of the
African Business Angel Network (ABAN) joined CNBC Africa’s Esther Awoniyi to discuss this. 
[Watch Video]
Celebrating the Launch of the Mali Business Angels Network

The team that brought us the first ever Francophone Africa Investor Summit has now also launched MABAN - the Mali Business Angels Network. Suguba together with Le Réseau de l'Entreprise en Afrique de l'Ouest – Mali (REAO - Mali), has brought together a network of Mali’s 40 most influential private sector CEOs. The World Bank is providing technical assistance to the Mali Angels.

For more information please contact the MABAN team via contact@suguba.org
L'Afrique Excelle Venture Showcase in Paris
Are you interested in meeting the top 10 tech start-ups from Francophone Africa? 

VC4A cordially invites you to the L'Afrique Excelle Venture Showcase. L’Afrique Excelle is a World Bank program implemented by VC4A, Suguba, and SahelInnov which supports high-growth start-ups looking to raise between $250k and $5M. 

There are two opportunities to see the pitches next week in Paris; at Afrobytes and at VivaTech. If you would like to interact more personally with the founders, we advise you to join the deep-dive sessions at Afrobytes - and not to miss out on L'Afrique Excelle's joint networking event with Deloitte.
The World Bank to invest $50m towards building up the Egyptian early-stage Investment Network
As part of a $200-million project, The World Bank will invest $50 million towards building up Egypt’s early-stage investment network.

In a 17 April statement unveiling the project The World Bank said the initiative aims to increase the supply of seed, early-stage, and venture capital going to riskier, more innovative start-ups and young SMEs with high potential for growth and job creation.

To achieve this, the World Bank said it will invest $50 million in privately managed risk capital intermediaries such as angel funds, accelerators, venture capital (VC) funds, and investment firms.


[Read full report]
New Fund next to the new Benin Business Angel Network 

In further good news for Benin-based startups the Early-Stage Startups Investment Conference (ESSIC), which took place in Benin in April, saw the launch of Noru Capital, an impact fund with a clear focus on early-stage companies.

Spearheaded by local innovation hub EtriLabs, the evergreen fund will provide equity and quasi-equity financing to promising startups with great teams, product-market fit, and scalable business models.

Noru Capital will seek exits through larger funds or acquisition by larger companies.

[Read more]

Upcoming Events | Connect with the ABAN Team in 2019
As you can see it's been a good start to the year for the early-stage ecosystem in Africa. That said, with most of 2019 still ahead of us, a host of encouraging developments and engaging events are still in store.

The ABAN Team is always looking to meet and collaborate with like-minded investors. Join us in exploring the African opportunity at the following events:
Last Call | Investing in Africa, London
AFSIC presents an unparalleled opportunity to develop a robust, high-quality network of business contacts across the continent & multiple networking opportunities for African business. 8 - 10 May 2019
| More Details|
East Africa Com 2019, Nairobi
East Africa Com is an influential place for telecoms, media, broadcasting, and technology leaders to connect and share ideas. The hottest topics in the industry are explored in this two-day conference. 14 - 15 May 2019.
| More Details|
Afrobytes IV
Hosted at the world's biggest startup campus, Afrobytes focuses on facilitating the exploration of business opportunities between the African tech ecosystem and players in the global tech world. 15 May 2019
| More Details|
Viva Technology 2019, Paris
VivaTech is the world’s rendezvous for startups and leaders to celebrate today’s innovations and tomorrow’s possibilities. It’s a gathering of some of the world’s brightest minds, talents, & products. 16 - 18 May 2019.
| More Details|
EBAN Annual Congress 2019, Helsinki
The EBAN Annual Congress is one of Europe’s largest and most international business angel events hosted by EBAN in cooperation with its key partners. Expect it to yield a wealth of new ideas and trends. 3 - 4 June 2019.
| More Details|
Africa Tech Summit, London
Explore, connect, invest. This summit provides unrivalled insight, networking and business opportunities for African and international tech leaders and investors who want to drive growth in Africa. 11 June 2019
| More Details|
Africa Moves - The Big Summit, Tunis
The largest African event dedicated to tech and innovation. A series of annual events taking place in 3 countries, showcasing new countries and their connection to Africa each year. 17 -21 June 2019.
| More Details|
Pan-African Tech Conference, Nairobi
The MEST Africa Summit brings together top entrepreneurs, investors, executives, and ecosystem players from across the globe. Join in to hear from the continent's leading innovators. 27 June 2019.
| More Details|
EurAfrican Forum 2019, Portugal
Under the theme “Partnership of Equals: Sharing Values, Sharing Prosperity” the 2019 Forum will focus on common challenges and changing relationships, aiming to create fresh opportunities. 4 - 5 July 2019
| More Details|

With the birth of new angel networks and the booming growth of investment and start-up ecosystems around Africa, it's an exciting time to be alive as an early-stage enthusiast.

Be sure to connect with us at one of the many great events coming up.

On behalf of the ABAN team,

David van Dijk
ABAN, Director General
 







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