My recent post on broken VC in Africa has led to some discussions to fixing the funding supply side scarcity problem for African Founders. This is the heart of the problem. Too few funders and a lot of talented entrepreneurs. This creates lopsided dynamics in relationships between African founders and funders. Also there is the importance of proper education of local investors so as to professionalize how they go about their investment process viz. silo competitive information, asking intelligent questions and offering right size cash investments & valuation.
Some work is being done in the background with some VC friends as well as with other founders that will be unveiled soon. I thank everyone who has responded candidly and especially those from outside the continent who have committed to helping to fix. It means a lot.
In meantime, a UK based VC has asked for help to pipeline a health startup in Africa. They invest cash tickets between $100K to $150K and have a slot to invest by end of December.
The preferred startup has to be health focused although the application in healthcare may vary from operations to finance so long as a major pain point can be addressed in a scalable and efficient way.
If you are interested or know someone who is , please send a 1 page company brief to my EA : firstname.lastname@example.org
1. Ideally health professional with work experience in space they are tackling
2. Startup can be at concept stage but with some clear market validation such as signed LOIs or some invoices
3. Also deployed businesses are also welcome but more early stage ideally is required e.g. where Paystack was when YC invested in them .
This opportunity is open across Africa and my team will do best to curate and send through to the VC.
Please do not DM, just write the email quoted here and my team will respond there. Please share widely.