">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Sunday, January 24, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Startups

CEO Weekends: NewGenAngels Launches to Invest $150,000-$500,000 into Startups in Africa

Sam Wakoba by Sam Wakoba
7 years ago
in Startups
6 min read
0

Related posts

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021
0

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
0

Free money transfer service Taptap Send launches its services to Kenya

January 22, 2021
0

54gene launches a genome sequencing lab to track infectious and non-communicable diseases prevalent in Nigeria

January 22, 2021
0

photoThere are several angel investors in Africa, helping entreprenuers build companies and scale them and they are all good.

NewGenAngels, a members-only investment club for high liquid professionals and sophisticated angels, ultra high net worth individuals, venture capital firms, family offices and angel networks with an interest in Africa aims to shake things a little bit. The fund aims to invest US$150,000-US$500,000 into each startup and also aims to activate 1000 angels by 2020.

It’s core source of angel investors, the investment club says it the diaspora market, a group left out of developments in their home countries apart from just sending money. The Diaspora will now be able to invest in the talented founders or innovative ideas coming out of Africa plus get them mentorship says the founder.

Though angel investing is nothing new in Africa, the investment club says its method of  having the diaspora invest in early stage companies in Africa is not widely used. The Newgenangels model is built on 3 key pillars: Mentorship, Funding and Context.

Sean Ndiho Obedih the founder of NewGenAngels says,“Our model relies heavily upon syndication of skills and funding from members of the African Diaspora and friends of Africa. We also syndicate deals alongside the strongest investors in the local market. We have partnered with Ghana Angel Investment Network and Africa Angels Network to kick-start this initiative because we believe that Local knowledge always beats any financial analysis and most often possesses great professional experience and networks across many sectors.”

READ  This startup is bioengineering Rhino horns so you don't have to poach them

According to Obedih, the Angel investment landscape in Africa is very fragmented and very focused on local activities but NewGenAngels believe that hinders the Angel community from truly benefitting from the economy of scale that a larger network can bring to bear, In the past, money sent back home to home countries was often small scale and geared to families to support basic living and education but there is also an increased demand from a growing and well-resourced African Diaspora to channel funds into “Viable projects’ contributing to economic development in their home countries and to which they would otherwise have limited access.

NewGenAngels prefer service and technology based businesses with strong growth dynamics, fragmented competition, a sizeable industry, low exogenous risk and straightforward operations.

NewGenAngels has a nominee structure, whereby it holds and manage the shares of companies on behalf of the underlying investors after an investment is completed. The structure, the firm says is essential to mitigate the risks and protect its investors and also enable investors raise follow-on funding.

NewGenAngels has invested in Nigeria’s Orin, the founderhive, and Sobek Ventures. The investment club is a member of EBAN an association representing the interests of business angels, business angels networks (BANs) and federation of networks, seed funds and other entities involved in bridging the equity gap in Europe.

Readers 871

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Sam Wakoba

Sam Wakoba

Taking you on tour through Africa's tech ecosystem, one startup at a time! [email protected]

Related Posts

Startups

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021
0
Startups

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
0
Startups

Free money transfer service Taptap Send launches its services to Kenya

January 22, 2021
0
Health

54gene launches a genome sequencing lab to track infectious and non-communicable diseases prevalent in Nigeria

January 22, 2021
0
Startups

Uganda’s Innovex raises funding from Gaia Impact Fund to enable remote monitoring for solar companies

January 22, 2021
0
Startups

Aerobotics Raises $17 Million Led by Naspers To Scale AI for Agriculture Globally

January 21, 2021
0
Startups

Tanzanian money remittance startup NALA is launching in the UK

January 21, 2021
0
Startups

Startup Guide to release of Startup Guide Nairobi

January 21, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
Toshiba

Chrome Now Helps You Change Weak Passwords

January 23, 2021
Toshiba

Shoppable Ad Formats Are Coming Soon To Youtube

January 23, 2021

Hero MotoCorp Surpasses the Monumental 100M Cumulative Production Milestone

January 23, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: