VC4A and ABAN Partner with $100m Start-Up Funding Unit, Naspers Foundry Ahead of Africa Investment Summit

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Venture Capital for Africa (VC4A), an organisation that contributes to Africa’s startup movement, and the African Business Angel Network (ABAN), a Pan-African non-profit association, have announced the 6th edition of the Africa Early Stage Investor Summit (AESIS2019).

Naspers Foundry, a R1.4 billion ($100 million) start-up funding initiative aimed at boosting the South African technology sector, will be contributing to the Summit’s program development.

The high profile investment event will take place from 13th to 15th November, 2019 in Cape Town, South Africa.

The group will be sponsoring the Summit’s main cocktail reception on 14 November. As well as providing much needed funding, Naspers Foundry helps talented and ambitious technology entrepreneurs develop and grow businesses that improve people’s daily lives.

The conference brings together leading investors from Africa and beyond to network, exchange insights, create partnerships and make deals. This event is designed ‘for investors, by investors’.

The Summit’s speakers and guests hail from the leading angel networks, venture capital (VC) funds, impact investors, accelerators, corporate venture divisions, industry associations, and the public sector.

The affair comes at a time when the number of Africa-focused angel investor networks and investment funds are rapidly growing and maturing, bringing both critical challenges and greater opportunities for venture capital funding on the continent. Summit delegates will explore developments in Africa’s early-stage investment space and will set the agenda for the coming years.

“At Naspers, we believe in backing local entrepreneurs in growth markets and helping them by leveraging our global scale and experience,” said Naspers South Africa CEO, Phuthi Mahanyele-Dabengwa.

“The Africa Early Stage Investor Summit provides a unique opportunity for Naspers to engage with like-minded investors and ecosystem partners from across the continent as we build out Naspers Foundry, and our broader investment ambitions,” Pluthi added.

The 2018 edition of the Summit brought together over 300 investors from prominent African angel networks and VC funds to identify and address the critical gaps in the early-stage investment space going into 2019.

At the 2018 Summit, a number of successful partnerships were created, including a new partnership between South Africa’s Technology Innovation Agency (TIA), a public entity and the South African angel investor networks, Dazzle Angels and Jozi Angels. ABAN also signed an MoU with the African Union to deepen their collaboration to support entrepreneurship across the continent.

In 2017 and 2018, the Summit also featured a venture showcase of leading African digitally-enabled scale-ups from across the continent, resulting in a number of series A deals totaling over $15 million.

In the 6th edition, ten growth-stage companies that have been selected and vetted by Africa’s leading VCs, will be introduced in the showcase. These companies represent a new class of investment opportunities across the continent.

VC4A stated that the selected ventures have strong revenues, are well-positioned for regional and international expansion, and demonstrate important innovations that are disrupting industries like agriculture, healthcare, housing, transportation, and finance.

 

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