AfriLabs, a support organization for innovation hubs, has introduced the AfriLabs Connect Deal Room (ACDR) to tackle the significant obstacles associated with locating, financing, and gaining access to investable businesses in Africa.
AfriLabs is a network organization that brings together investors, startups, technology hubs, and other important players in the ecosystem to promote innovation and entrepreneurship across the continent. With more than 430 members.
AfriLabs unveiled the ACDR during its 2023 Annual Gathering event. Its goal is to facilitate funding for creative companies in various African sectors while giving investment institutions access to a pan-African pipeline of investible and de-risked firms.
Funds and investors can register their portfolio firms into a private pool through the Deal Room, fostering a dynamic investment environment. With the use of AI, this pool facilitates more accurate matching between businesses based on parameters such as ticket sizes, industry of interest, and comprehensive specifications.
Furthermore, AfriLabs’ extensive network of more than 500 physical innovation and technology hubs dispersed throughout 54 countries and more than 250 cities makes it easier to provide follow-up support for ACDR’s endeavor by encouraging pan-African collaboration and providing additional resources to help the initiative’s startup founders get ready for investment.
Pioneer partners in the ACDR include international venture capital networks like Renew Capital, International Accelerators, and Neterra Capital, as well as business support tools and services like Silicon Valley in Your Pocket.