Early this year, we set out to create a new model for venture funding in Africa and we invited you to walk with us on that journey.
The progress we see today is the achievement of a community that's committed to building the future of Africa.
We formally began admitting members into the Future Africa Collective in June and in less than 6 months we have a community of over 125 angel investors from all over the world, who are interested in funding the innovators building Africa's future.
In the last few months, we’ve hit many amazing and seemingly impossible milestones. The first deal we presented to the Future Africa Collective was oversubscribed by 28% in 72 hours. The second deal was oversubscribed by 68% within 7 hours. Both deals had an allocation of $100,000. In fact, we raised over $250,000 for a particular company within 4 days.
We've also pioneered a new model of investing in Africa that gives investors the flexibility to subscribe to a quarterly fund and get exposure to all the deals we participate in within that specific quarter. We call this The Future Africa Rolling Fund. So far we've raised over $500,000 in this fund.
Today, we're excited to announce that together with our community of angel investors, we have invested $1 million in 9 amazing companies that we firmly believe are building the future. This brings the total number of investments as a fund to 28.
In no particular order, we present to you the 9 companies we invested in:
Bamboo helps Nigerians create wealth by investing in Nigerian and United States stocks. Bamboo received follow-on funding from Future Africa. Learn more about Bamboo here.
Eden is a tech-enabled concierge service for Nigerians to live better and simpler lives. Eden received follow-on funding from Future Africa. Learn more about Eden here.
Releaf is improving the value-chain of agricultural products in Nigeria starting with the oil palm fruit. Learn more about Releaf here.
Tambua Health has invented precise, non-invasive and radiation-free lung imaging devices for use by primary health care providers. Learn more about Tambua Health here.
Indicina is building Africa’s credit infrastructure to digitise the credit value chain and improve decision making by creditors. Learn more about Indicina here.
Evolve Credit is a marketplace for financial services in Nigeria. It helps Nigerians make better financial decisions. Learn more about Evolve Credit here.
Shara is building a distribution platform to help FMGCs provide financial and logistical support to retailers.
Myawayhome is the trusted service for diasporans to own and manage property back home. Learn more about Myawayhome here.
Stears is building a media and data network for Africa to help individuals, development organisations, investors, governments and companies access data they need to make better decisions. Learn more about Stears here.
Our track record so far speaks for us and we'd love to have you on this journey with us.
We're currently admitting new members into the Future Africa Collective. If you want to co-invest in these innovators, we will send you access to invest in 20 startups each year as well as access to invest in the Future Africa Rolling Fund. Please click here to learn more and apply.
If you're an innovator who’s building the future of Africa and needs capital to scale, please apply to the Future Africa Fund here.
We look forward to breaking more records this quarter as we continue to support African innovators with capital, community and coaching.
