Baobab Network Unveils Plan to Invest In 1000 African Tech Companies
In order to support digital startups across Africa, early-stage investor and accelerator Baobab Network has announced plans to invest in 1000 businesses between now and 2033.
Since its 2019 launch, Baobab has continuously been one among the continent’s most active investors, supporting locally led businesses from the start.
The co-founder of Baobab, Toby Hanington, claimed that they now have the platform to significantly increase the volume of investments they evaluate and carry out throughout Africa.
The accelerator offers each startup $100,000 in investment in addition to a 12-week acceleration program that prepares each company for scaling.
The newest members of Baobab’s cohort are Kawu (Uganda) & Alal (Senegal), as well as the Nigerian startups Brandrive, PocketFood, and Bunce. With an additional $50,000 investment through their recently created Co-Investment Vehicle, each company has received $50,000 directly from Baobab.
Africa has not escaped the effects of global market dynamics, but Baobab is still one of the continent’s most active pre-seed investors.
Ten agreements have already been closed by the business this year, and a larger group is anticipated in Q4.
Additionally, Niama El Bassunie, a recent YC alumnus and one of Africa’s only successful entrepreneurs, was recently engaged by Baobab as Managing Partner.
The newest members of Baobab’s cohort are Kawu (Uganda) & Alal (Senegal), as well as the Nigerian startups Brandrive, PocketFood, and Bunce. With an additional $50,000 investment through their recently created Co-Investment Vehicle, each company has received $50,000 directly from Baobab.
Africa has not escaped the effects of global market dynamics, but Baobab is still one of the continent’s most active pre-seed investors.
Ten agreements have already been closed by the business this year, and a larger group is anticipated in Q4.
Additionally, Niama El Bassunie, a recent YC alumnus and one of Africa’s only successful entrepreneurs, was recently engaged by Baobab as Managing Partner.
Global business titans, institutions, and investors that support Baobab’s future as a multi-product asset management platform that propels the next wave of tech firms in Africa are among the company’s investor base.
