Tuesday, March 1, 2022

- WAT
POWERING INNOVATION FOR THE NEXT BILLION: THE ROLE OF LOCAL INVESTOR COMMUNITIES
Stephanie Etiaka
Stephanie Etiaka
Wennovation Hub, Head Operations
Subomi Plumptre
Subomi Plumptre
Volition Capital LLC, Director
Olabinjo Adeniran
Olabinjo Adeniran
Future Africa, Co-founder & Growth Partner
Fiyin Ogunlesi
Fiyin Ogunlesi
OUI Capital

As at  Q3 2021, startups in Africa had raised  $2.9Bn+ in over 515 deals according to data from Africa:The Big Deal. While most of the funding comes from investors abroad, local investors are often the ones writing cheques for early stage start-ups, usually at the pre-seed and seed stages. According to Partech, early stage companies accounted for 64% of the 359 funding rounds above $200K in 2020, representing $220M of the $1.4Bn invested in startups on the continent. 

Local investors often have first hand experience of the challenges these startups are attempting to solve and are best positioned to provide advice and honest feedback to the founders in addition to early funding (usually between $25K to $100K) needed for these startups to build out their solution and acquire the early customers to validate their solution. More money in the hands of local investors would mean more early stage startups getting funding. These early bets give startups a fighting chance.

At the end of the panel session, attendees should be able to understand: 
[1] Fundraising models being adopted by local investors in Africa
[2] The roles and functions of VC platforms in promoting Innovation in Africa
[3] How we can build more robust local investor communities in Africa


                              This session is hosted by Blacklight Solutions