There was no honest playbook for building in Africa. So we wrote one.
There was no honest playbook for building in Africa. So we wrote one.
Do you need to raise?
Are you raising to grow, or to survive?
What traction do you have?
Have you raised from friends and family?
Have you earned revenue from services?
Have you applied for grants?
Would you invest today, on current numbers?
Verdict
Plan the round
Purpose
What will you spend the money on?
Milestones
Which milestones should this round reach?
Timing
When do you need it? Too early and you give away too much equity. Too late and you run out of cash.
Target the right investors
Pre-seed, seed or growth.
They invest in your sector
They invest in your country, or region
They write checks of the size you need
Your company fits what they say they invest in
Most of them are in the African Investors Database. Start there →
Choose investors, not just money
An investor stays on your cap table for years. Before you accept, check whether they can help with markets, hires or the next round, whether they agree with where you are taking the company, and whether they will be active or passive.
Get advisors first. Advisors who know your industry or market make you more investable. Look for technical mentors, former founders and operators who have built companies in Africa.
Prepare your materials
Ten to twelve slides.
Your company on one page.
Use our template →
Realistic assumptions you can defend line by line.
Every document an investor will ask for, in one shared folder.
Run it
Reply to investor requests fast. Keep every document current. Follow up once, then move on. Send investors a monthly update, even before you raise.
Start with lower priority investors. Find the weak points in the pitch before you meet your top targets.
Start before you need money. Talk to investors months ahead and identify what they look for.
Show preparation, not enthusiasm. Investors want proof you understand the model, the market and the plan.
Checklist
