I was lucky to have front row seat during Augie Rakow’s session at the Venture Out Challenge in Moldova. Venture Out focused on giving entrepreneurs the resources and skills necessary to internationalize their startup.

As expected, the question of funding required to scale a startup was on the horizon, Augie, having worked with over 100 startups, angels and venture firms to close investment rounds in Silicon Valley, gave insights from his experience.

In his talk, 10 observations on New Venture Finance, Augie expounded on 10 points, while observation number 4 struck me as Deja Vu – it still had untapped potency.

Network with venture backed CEOs and raise seed money from them.

Was this guy talking about Jason Njoku and SPARK? Must be. Or are there other Jasons (CEOs) and SPARKs (angels) in Nigeria? This got me thinking.

So who else do we have? There’s Tayo Oviosu of Paga (CEO) and He’s already done one angel investment- Yswara, a luxury african tea company in South Africa. Tayo may not be doing a SPARK but he has invested once and he will invest again.

Chika Nwobi of L5Labs- He’s done Jobberman, Cheki, etc. Chika has invested and he will invest again.

There are more out there. Startups spend a long time educating investors, and this is how it should be. But mostly as you don’t have that much time to spare, talking with CEOs of tech companies who already get your business model would save you precious time. Time to investment.

And there are other venture backed CEOs out there. I think we need to find them and activate them.

So I thought the best way to find them is to crowd source the information. I created a hackpad called Venture Backed Tech CEOs in Africa that we can collaboratively edit. I already put in the names of some of the people I mentioned above, and I hope you can find time to add other CEOs whose names belong in there and make that very important list.

Find them. Activate them.

Read this next
Cabal, ecosystem, startups
1st November 2013

And it seems that Nigerian/African Twitter have bought themselves 3D glasses to watch. Everybody loves them some high stakes corporate/startup drama, and the iROKING one has become one big-ass feeding frenzy now. The sort of all-you-can-prattle-about gossip buffet that people are wont to bring their mouths to, leaving their brains behind. I think I’ll pass. […]

More From TC

My Life In Tech is putting human faces to some of the innovative startups, investments and policy formations driving the technology sector across Africa. A tragic 1980 novel by Sidney Sheldon, Rage of Angels, is all it took for Odunoluwa Longe to decide she wanted to pursue a career in law. The novel’s stunning protagonist, […]

Another Friday, another edition of the TechCabal Quiz. Last week, we asked what type of tech boss you are and we got all your responses. Today, we want to find out how well you read us this week. As always, let us know how you get on and share this among your friends. Have a […]

Battlefield, Business, Funding
6th December 2019

Ten startups have been announced as winners of the Seedstars Summit Africa 2019. Held in Johannesburg, South Africa, the summit is a competition for startups from different countries in Africa. First emerging through pitch contests and mentoring in over 20 African countries, the participating startups got their chance to pitch to an audience that included […]


TechCabal is a Big Cabal Media brand



Copyright © 2019
All rights reserved

Privacy & Terms