Equity Merchants: Recent Episodes
Techpoint Africa
Equity Merchants dives deep into various issues around investing in African startups. We’ll cover topics such as conducting due diligence, employee stock options, and valuation. If you’re looking to understand venture capital from an African perspective, you would love this.
``` In 2007, Tokunboh Ishmael co-founded Alitheia Capital with Jumoke Akinwunmi, pioneering a new era of investment in tech-enabled businesses across Africa.
Since then, the continent's investment landscape has undergone a significant transformation, with startups emerging as highly sought-after investment opportunities.
Today, Tokunboh joins us on the podcast to share her insights on the importance of diversity in startup teams, the need for regulatory reforms, and the role of media in shaping the startup narrative.
Subscribe to the Equity Merchants newsletter for more content like this. https://techpoint.africa/series/equity-merchants/ ```
``` In this episode, we sit down with Kristin Wilson, a seasoned entrepreneur and investor, to discuss the challenges and opportunities of building startups in Africa.
Kristin shares her insights on the common mistakes co-founders make, the importance of transparency and accountability, and the need for founders to tackle tough problems in Africa.
She also talks about her journey, from deciding not to pursue a career in medicine to becoming a key player in the African startup ecosystem, and emphasises the need for capital to flow into smaller markets and for policy changes to unlock barriers to growth. ```
Understanding your market and executing a well-planned strategy can be the difference between startup success and failure.
At June's edition of Pitch Friday, Temitayo Ekundayo , Co-founder at GetEquity led an insightful session dedicated to crafting and refining your go-to-market strategy.
Too many times, regulations are released that hurt startups, but Olufemi Oyinsan, General Partner at The Continent Venture Partners, argues that innovators and regulators don't always have to be at loggerheads.
In this episode of Equity Merchants, he shares some thoughts on how regulators and innovators can work together harmoniously.
Not having tech skills should never be a reason to abandon your dreams to build a technology business.
During the May edition of Pitch Friday, Oluwatobi Odukoya, CEO of CDcare, joined us to share how he navigated the challenges of building a startup without technical experience. His startup has over 500k downloads on the Play Store and has delivered products to users in more than 25 Nigerian states.
Link to the course Tobi mentioned: https://www.udemy.com/course/flutter-bootcamp-with-dart/?couponCode=OF52424
And the YouTube channel: https://www.youtube.com/@SantosEnoque
Find us on Twitter, Facebook, Instagram, and TikTok @TechpointAfrica
Kendall Ananyi bought his first stock at the age of 12, the same year he started learning how to code.
Today,he has made 40 investments in startups such as Paystack, Flutterwave, Reliance Health, and Chowdeck.
In this interview, he shares the story behind investing in Paystack, how he determines what startups to invest in and why he believes rejection is normal for every entrepreneur.
Six years ago, Olu Oyinsan left his job as a Vice President at Ingressive Capital to start a fund targeted at early-stage African startups.
In that time, Oui Capital has made over 20 investments across Africa, including into Moniepoint, one of the continent’s fastest-growing fintechs. In this interview, he shares some of the lessons learned along the way and some thoughts on building a startup in Africa.
Twelve years ago, Sim Shagaya launched Konga as he bid to build Africa's Amazon. However, he would leave the startup just five years later after investors opted to stop funding the startup despite its impressive growth.
He has since launched edtechs uLesson and Miva University as he sets his eyes on providing quality education to Africa's teaming youth. In this tell-all interview, he shares stories from his early days building Konga and lessons he learned from the process.
In 2021, Kennedy Ekezie co-founded Kippa with Duke Ekezie and Jephthah Uche. The startup, which provides financial management tools for more than 500,000 businesses, has raised over $11 million.
In this interview, Ekezie shares his experience raising venture capital as a first-time founder, insights from serving Africa's SMEs, and his tips for first-time founders.
African Web3 and blockchain sectors raised $5.1 million in 2021, rising to $88 million in 2022. This year, they've struggled with raising capital and have been victims of the global web3 slowdown.
Against this backdrop, Adaverse is betting heavily on African web3 startups and Vincent Li, the firm's Founding Partner joins us in this episode to share his thoughts on the space and why there's room for disruption in Africa.
Find us on Twitter, Facebook, Instagram, and TikTok @TechpointAfrica
In 2022, Oyin Solebo joined Techstars as the Managing Director of the ARM Labs Lagos Techstars Accelerator.
Early this year, the first cohort of 12 startups graduated from its three-month program designed to provide founders with learning resources, community, and mentorship.
On this episode of Equity Merchants, Solebo shares tips for founders applying to the accelerator, while giving her thoughts on building in public. She also shares how the team was able to increase participation by female founders in its last cohort.
You can also read the article here: https://techpoint.africa/2023/06/28/oyin-solebo-techstars/
Timestamps
00:00 - Tidbits
01:04 - Intro
01:41 - We meet Oyin
02:51 - How ARM Labs Lagos Techstars Accelerator came to be
03:25 - Journey to Managing Director
05:43 - From investment banking to venture capitalism
07:45 - Criteria for getting into the accelerator
11:53 - Gauging passion and coachability
15:23 - The Techstars advantage
18:38 - Benefits of an accelerator to the economy
21:53 - Bringing women in
28:00 - Learnings from entrepreneurship
29:39 - Building in public vs building in private
31:46 - Investor due diligence
34:28 - Becoming a really good investor
37:30 - Outro
Find us on Twitter, Facebook, Instagram, and TikTok @TechpointAfrica
Our guest on the podcast today is Susana Garcia-Robles. Before joining Capria Ventures as a senior partner in 2021, Susana spent more than 15 years working at the Inter-American Development Bank where she spearheaded the development of local startup ecosystems in Latin America.
An experienced investor, she explained how stakeholders can work together to build a vibrant ecosystem and how to drive local venture capital participation. She also shares three tips for emerging fund managers.
Dr Ikpeme Neto founded WellaHealth in 2014. The startup helps Africans get affordable healthcare coverage for illnesses like malaria. Since its inception, the startup has provided its services to more than 90,000 people.
In this episode of Equity Merchants, Neto joins me to discuss his reason for leaving his medical practice to set up a healthtech startup, how he picked up dancing as a hobby and why he thinks founders should bootstrap their startups for a while.
We also discuss the role investors should play in a startup's success and why a collaboration between the business and academic community is necessary. Finally, we talk about the gender funding gap in Africa and Neto's thoughts on it.
This was an interesting conversation and I'm certain you would love it.
Please share this episode with your friends, co-workers, and family. Also, send your thoughts, questions, and reactions to chimgozirim@techpoint.africa.
See you in the next one.
In 2022, Victor Kareem joined Lagos Angel Network as its Executive Director. Before then, he had worked as an investment banker and venture capitalist.
In this episode, he shares the qualities that have helped him stand out in his career, tips for choosing the right investors for your startup, and what businesses should choose equity or debt funding.
In this episode of Equity Merchants, I spoke to Amee Parbhoo, the Managing Partner at Accion Venture Labs to get her story and some tips on how founders can navigate a tough funding environment.
She also shared her motivation for staying at Accion Venture Labs for eight years and how living and working on three continents has influenced her work with entrepreneurs.
Many startups fail to reach the Series A round and Expert Dojo, a venture capita firm based in helps its founders with growth strategies that ensure they reach the Series A round.
On this episode of Equity Merchants, we're joined by Ajani Windsor-Areago, a Venture Partner at Expert Dojo. Ajani began his career investing in startups at Platform Capital, an Africa-based VC that has invested in startups across Latin America and Africa.
We talk about a range of topics including his thoughts on funding fintech startups, the importance of storytelling for founders, and how African VCs think about exits.
Please like, share, and subscribe to the podcast.
In January 2023, Jetstream raised more than $10 million in a pre-Series A round. Jetstream provides a single platform for African businesses to handle all their logistics needs.
Miishe Addy, the startup's founder and CEO, is one of the few women who have raised more than $10 million for an African startup. She joins us on the podcast to discuss raising capital for Jetstream, identifying the right investors, and creating the right buzz when closing a round.
As always, like, share, and subscribe to the podcast.
Although there's a global slowdown in venture capital activity, interest in African startups continues to grow. However, not all startups are a fit for venture capital funding. In this episode, we examine some of the factors that qualify a startup for venture capital funding.
Please like, share, and subscribe to the podcast.
While building their startups, founders may be tempted to leave legal matters for later, but Karen Chukwu, Managing Partner at Katwig & Dale warns that this is a bad move.
In this episode of Equity Merchants, she shares tips for startup founders raising venture capital and pitfalls to avoid in the process.
Like, share, and subscribe to the podcast. You can also send your thoughts to me at chimgozirim@techpoint.africa
In 2017, Ikenna Nzewi, Uzoma Ayogu, and Isaiah Udotong moved to Nigeria to start an agritech startup, Releaf. Their idea was to build a digital marketplace for agricultural produce in Nigeria, but they soon shelved that plan. Now, they build supply chain technology for the agricultural sector and currently focus on the oil palm sector.
Earlier in the year, they raised an oversubscribed pre-Series A round that they say will fuel their expansion across the country. Ikenna joins us on the podcast to discuss Releaf's early days, raising capital for the business, and shares a few tips for founders.
This episode is proudly sponsored by the Techpoint Africa business team.
You can send me an email at chimgozirim@techpoint.africa. For most stories on startups and innovation, visit techpoint.africa.
Odunoluwa Longe is the Co-Founder and Partner of TLP Advisory as well as a Co-Founder at DIY Law, a legal tech startup that provides startups with DIY law kits and resources. Prior to co-founding TLP Advisory, she worked on private equity deals at investment banks in Nigeria.
In this episode, she shares her motivation for starting Nigeria's first law firm dedicated to startups and some tips on navigating legal issues in startups.
This episode is proudly sponsored by the Techpoint Africa business team.
You can send me an email at chimgozirim@techpoint.africa. For most stories on startups and innovation, visit techpoint.africa.
A few weeks ago, Nigerian VC firm, Oui Capital announced the launch of its second fund – The Oui Capital Mentor’s Fund. interestingly, one of their LPs included Tosin Eniolorunda, CEO of Nigerian fintech startup, TeamApt, and one of the firm’s early investments.
On this episode of Equity Merchants, I speak with Olu Oyinsan, the firm’s Managing Partner to learn more about the business of venture capital and how startups can attract more investors.
This episode is proudly sponsored by the Techpoint Africa business team.
You can send me an email at chimgozirim@techpoint.africa. For most stories on startups and innovation, visit techpoint.africa.
This week on Equity Merchants, we have two guests – Jack Knellinger and Loraine Achar.
Jack is the Co-founder and a Partner at Capria Ventures, while Loraine is an Associate with the firm working out of Africa.
In this episode, we discuss how startups can stand out when reaching out to VCs, what Capria Ventures looks out for when choosing local fund managers, and several other topics.
This episode is proudly sponsored by the Techpoint Africa business team.
You can send me an email at chimgozirim@techpoint.africa. For most stories on startups and innovation, visit techpoint.africa.
Welcome to another episode of Equity Merchants. Our guest today is Adesuwa Okunbo Rhodes. Adesuwa is the Managing Partner and Founder of Aruwa Capital Management, an early-stage growth equity and gender lens fund.
As one of the few female partners in Africa, Adesuwa is passionate about getting more women to start their own companies and fund startups. In this episode, we discussed her reason for starting a gender lens fund, the benefits of investing in women, and when startups should raise money.
This episode is proudly sponsored by the Techpoint Africa business team.
You can send me an email at chimgozirim@techpoint.africa. For most stories on startups and innovation, visit techpoint.africa.
Today on Equity Merchants, our guest is Eunice Ajim, the Founding Partner of Ajim Capital. Before starting Ajim Capital, Eunice was the founder of dataGig, a platform that connected data science professionals with SMEs.
She also co-founded OpenTeams, a marketplace for open source talents. In today’s interview, she shares her thoughts on Africans investing in startups, choosing a co-founder, and the right time to raise from VCs.
This episode is proudly sponsored by the Techpoint Africa business team(https://techpoint.africa/advertise). You can send me an email at chimgozirim@techpoint.africa. For most stories on startups and innovation, visit techpoint.africa.
In October 2021, Gideon Dada received a message from a recruiter on LinkedIn. The recruiter was looking to hire someone to join the team at Metis Capital and felt he would be a good fit.
After a round of assessments and interviews, he got the job, resuming in December 2021. On this episode of Equity Merchants, he shares his journey and some thoughts on investments in Africa.
Our guest for today is Nneka Eze, the Managing Director and General Partner at Vested World. Previously, she was a Partner at Dalberg where she led the firm’s agricultural practice. Today, she joins me to discuss Vested World’s criteria for investment, when startups are ready for investment, and her hopes for Africa’s future.
Show Notes:
0:39 – How she ended up at Vested World
3:43 – Difference between management consulting and venture capital
12:21 – Why fintech startups get the most funding
20:25 – When are startups ready for VC investment?
23:14 – How many startups Vested World rejects in a month
26:13 – What should founders look for in investors?
33:14 – What the due diligence process looks like for VCs
36:54 – Factors that make a startup more likely to succeed
41:07 – Her projections for the next five years of venture capital in Africa
46:31 – What kind of founders does Vested World invest in?
You can follow Nneka on Twitter at @nneka_eze or send her an email at nneka@vestedworld.com. Listen to previous episodes of Equity Merchants at equitymerchants.show and follow me on Twitter at @chigo_nwokoma.
Our guest for this week’s episode of Equity Merchants is Ayobamigbe Teriba and he has been working in the venture capital space since graduating from the University of Lagos in 2017. What’s more? He has done it without a finance degree or even an MBA.
In this episode, we chat about how he got his first role, his job as a venture sourcing lead, and why fintech startups currently get the most funding. He also shares his thoughts on building for a global market.
Show Notes
0:45 – How he got into VC
6:28 – What his job as a venture sourcing lead entails
9:14 – How he finds founders
13:41 – Getting into VC with a History and Strategic Studies degree
18:55 – Why fintech startups get the most funding
26:50 – Thoughts on startup valuation
33:37 – Should African founders build for a global market?
Our guest for today’s episode, Temi Marcella Awogboro, is a partner at Magic Fund and previously led the creation of one of Nigeria’s largest private hospitals.
She has also been investing in startups for over a decade. In this conversation, she shares her thoughts on the potential of fintech in Nigeria, managing the co-founder relationship and several other topics.
Show Notes 0:38 – Temi's childhood
2:11 – Studying Economics and getting into Goldman Sachs
5:53 – Temi's view of the changing tech ecosystem in Africa
8:19 – How Temi uses her experience as an investor and operator to help startups
11:04 – Instituting corporate governance and the role of investors
14:40 – Governance in early-stage startups
17:34 – Managing co-founder relationship and how to allocate equity to co-founders
19:34 – Temi's earliest investments
23:00 – Juggling her role as a mother, investor, and entrepreneur
25:35 – Advice for founders building a team
29:08 – When is the right time for a startup founder to step aside as CEO?
31:26 – The types of companies Magic Fund backs
32:03 – Do we have too many fintech startups?
35:23 – Sectors that excite Temi
38:38 – Profit or Scale
Welcome to another episode of Equity Merchants. Our guest this week is Adedana Ashebir, the Regional Director for Africa and the Middle East at Village Capital.
Adedana’s career has taken some interesting turns, from working as a freelance journalist to helping entrepreneurs build great businesses, and she shared all that on the podcast.
Please, share and subscribe to the podcast.
Show notes
1:39 - Thoughts on 2021 as an investor
2:40 - How she moved from the media to working with startups.
9:50 - How African founders can build for a global market.
15:49 - How Village Capital chooses startups to invest in
19:12 - How founders can use storytelling to their advantage
21:32 - Her motivation for working with entrepreneurs
28:06 - Sectors that she’s excited about
32:13 - How to get more women into tech
36:26 - How the government can help prepare youths for the future of work
On this episode of Equity Merchants, we speak to Ahmed Elmurtada, the Managing Partner and Co-Founder of 249startups. We chat about his motivation for supporting entrepreneurs in Sudan.
2:26 - His thoughts on the Sudanese ecosystem
7:12 - Motivation for the name “249startups”
9:11- Why he started 249startups
15:15 - Impact of YCs investment
19:33 - How paucity of funds affects Sudanese founders
25:00 - How they are getting more Sudanese investors on board
30:59 - What can be done to position Sudan as an investment destination
Introducing Equity Merchants, a weekly show where we speak to investors, founders, and pretty much anyone who's connected to the investment ecosystem. We'll chat on different topics covering investments in Africa.
Our first guest is Victoria Fabunmi. Victoria is the Head of Investments at CcHUB. Since its founding, CcHUB has supported hundreds of African startups with workspaces, funding, and strong networks.
In this episode, we discuss:
- How her desire for impact led to startup investing
- What criteria guides CcHUB's investments
- Tips for getting a job in VC
- The evolution of Nigeria's investment landscape
- How to get more local investors for startups
- Building for a global market
- The role of VCs in building corporate governance in startups
- How to manage the co-founder relationship
- Sectors that excite her
- Why edtech gets less money
- Creating a steady pipeline for talents
- How many startups CcHUB rejects in a year
- Tips for founders looking to raise money
Victoria's favourite movies/series: * Vikings * King of Boys
Book recommendations: * The Intelligent Investor by Benjamin Graham * The Lean Startup by Eric Ries