Selma Ribica

VC firm Norskenn22 plans to invest in 20 African startups by the end of 2025, per Bloomberg. The firm has already backed six African startups so far, including South African neobank firm Tyme Group. Norskenn22 has three more investments already lined up. The VC firm secured $205M in capital commitments towards its Africa-focused fund last year, which aimed to back “lean-tech solutions,” including software, web-based platforms, and artificial intelligence. The fund is a joint initiative between Northzone Ventures’ partner Hans Otterling and Niklas Adalberth’s Norrsken Foundation. Norskenn22 has backed startups across South Africa, Nigeria, Kenya, and Egypt. Per the African Private Capital Association, VC funding inflows into African startups slumped by 31% YoY in 2023 to $4.5B due to rising inflation and weakening local currencies.

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Antler Nairobi is looking to invest $2M into early-stage startups over the next 6 months. We seek 10 ambitious teams / companies to join us, each receiving a $200k investment. We are specifically looking for individuals or teams in the following areas: ✔ Big problem statements ✔ Tech or tech enabled ✔ Building out of East Africa 🚀 If you’re a startup at the pre-seed or early seed stage -- comment “BUILD” and we’ll get back to you 🚀 If you’re an individual at the idea stage -- comment “STEALTH” if you would like to join our startup residency to find a co-founder and get your idea off the ground (commencing in Nairobi on Aug 26, 2024) If you know people building defining technology companies, tag them below or share this with your network. Antler is a global early-stage VC investing in the world’s most driven founders across 30 cities, including Nairobi. By investing from day zero, we are the earliest backer for startups as well as a long-term capital partner that provides follow-on funding of up to $10M for growth-stage startups at Series A and beyond. Want to reach us sooner? In addition to the above, connect with us at antler.co/apply #AntlerEastAfrica #EarlyStageInvesting #TechStartups #Entrepreneurship #VentureCapital #SeedFunding #PreSeed #StartupInvestments #Nairobi #Kampala #DarEsSalaam Melalite Ayenew Kosen Kenta Victoria Onsare Antler

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Growsari raised $80M+ to digitize Filipino corner stores ("sari-sari stores"). This B2B e-commerce play isn't unique. Similar startups exist in Morocco, Mexico, Nigeria... Margins in this business are razor-sharp. Lethal, potentially. Here's how Growsari's co-founder, Shiv Choudhury, thinks about them: " Margins are tight if you serve already-served stores. If you serve a store who already works with a distributor, you create a price war. I have seen this from close quarters, my family is in that line of business. This is the advice we gave clients at BCG: targeting a store with an existing distributor relationship fosters a pricing race and instability. We took a contrarian route, focusing on excluded sari-sari stores. This is harder and requires intense supply-chain reinvention. Ultimately, this exclusive reach gives us leverage with FMCG giants. If an FMCG player knows we’re the only ones to effectively reach certain stores, we can ask for higher margins. Today, 50% of GrowSari’s margins come from the ordering business. The rest comes from the financial services we offer, as well as our logistics business. The latter, named Tranko, is built on the same rails we built our own logistics on. The same trucks that deliver our goods can also deliver other companies’ products. Think about a small drugstore chain wanting to send goods to their franchisee outlet. Our truck is already going in that direction, so we can take that store’s product as well and cut their delivery price. Tranko is around 5-8% of our revenue and 10% of our operating margin. " Link to Shiv's full Realistic Optimist interview in the comments.

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IA funding is (still) surging. As uncertainty continues in the start-up ecosystem, IA is still trending. For example the amount raised by AI media generation deals doubles since Q4 2023. But one spot seem to be left on the side : AI tools for investors. VC are betting big on AI but aren’t using AI at all to make better bets. And the AI castle might crumble one day. The CEO of Hugging Face is already warning that dozens of founders are reaching out on a weekly basis to be acquired. So there might be a lot of losing bets still alive. So why so few start-ups are working to solve this issue? Is it because the market is to small? Is it because VCs don’t believe in a data-driven approach (I don’t believe in this one, VCs are too smart to not try something new)? Or simply nobody’s building in this ecosystem? A few start-ups are starting to try to tacle the problem. And we’re on this path to. Easing data collection on the start-up, the market and competitors. Carefully selecting the right metrics to make the right decision. And making it simple and super efficient so you don’t spend hours on it anymore. If you’re curious to see how it works, shoot me a DM 👀 #AI #VC #startup

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🚀 The first edition of Tell Your Startup is officially out, and we’re proud to introduce our startup #5: Bonsai Smart Wealth! Bonsai Smart Wealth, founded by Daniel Afan-Jones, is a financial ecosystem offering personalized advice, planning, and investment management to help users manage their finances efficiently through a smart, AI-powered app. "Bonsai was born through my experience within the financial advice sector. The idea appeared in the back of my mind somewhere around 2018. The market has never been more primed than it is today to accept digital wealth. None of the popular fintech and neobank companies allow front to back solution, which incorporates goals, planning, advice, investments, and savings…” 🤩 Check out the video below to learn more about Bonsai. If you're interested in accessing data rooms as an investor or represent an investment entity, send me a message!

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When raising funds, startup founders face a critical choice: Which fundraising instrument to use? Here are three essential options you need to know 👇 : ▶ SAFE (Simple Agreement For Future Equity): Originally created by YCominbator, this is a straightforward and widely-used instrument in the early stages of a startup. SAFEs allow startups to promise future equity to investors, converting this equity during a specific event, such as a priced round. It's favoured for its simplicity and speed, making it ideal for startups focused on building equity-driven value ▶ SAFT (Simple Agreement For Future Tokens): For blockchain startups that require a token, SAFTs allow you to raise capital by promising future tokens, aligning investor returns directly with the token’s success. ▶ SAFE+T (Simple Agreement For Future Equity + Token): This structure offers the flexibility of both equity and token allocations, giving investors the option to convert their equity into tokens as the startup progresses. The SAFE+T instrument also provides additional protections for investors regarding token launch timelines and potential product pivots, making it increasingly popular among blockchain startups. Find it useful? 📌 Follow me for more tips to help early stage founders. #startups #fundraising #YCominbator #Web3 #venturecapital

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A Prime Number is a concept that is simple to explain and yet becomes deceptively difficult (or rather, impossible ?!) to list as a progression. But what might Prime Numbers have in common with Startups and Founders that succeed at scale ? It turns out that there are surprising parallels between Prime Numbers and Execution Moats (Yes, there is such a thing as an Execution Moat. In fact, it might be the deepest/widest of moats out there). Watch/Listen to our latest episode on the Practical Nerds podcast as Patric and I take a more philosophical route to discuss why Execution Moats are such a superpower.

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EIS is a godsend for investors and startups ! The benefits are huge: + Investors can write off 30% of their investment against their income tax bill. + Of that remaining 70% and if the business fails, investors can also benefit from a further 35% write-off (if in the top rate of tax). + So, if the company goes bust, that is up to 65% of your investment covered against your tax credits. + If investors hold their shares for three years, they have no capital gains tax on exit. + Investors can invest up to £1 million a year in EIS investment and up to £2 million in knowledge intensive EIS companies. There’s no question that it’s a challenging time to raise money right now, with EIS investment over 59% down on last year, but it will be even harder if you’re not EIS-able. With a new Labour Gov, Capital Gains Tax feels like it will get closer and closer with Income Tax over time - a big difference, so maybe that’ll have the (unintended) benefit of investors investing again as no CGT on exits. EIS will become even more important to the startup/tech ecosystem than it is now and we’re glad to see the UK Government protect it. The early-stage ecosystem would collapse if SEIS and EIS didn’t exist. For all the negative things that are said about the UK and doing business here, this is a real strength of ours. I’m always amazed at how many people still don’t know about it ! #eisfund #investment #ukstartupscene ------ If you liked this post, I also have a newsletter where I speak about topics like this in more depth. You can subscribe in the comments below. Thanks !

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One of the best aspects of taking on Partnerships at Agicap has been expert exposure 💡. Since starting my new role in April I've managed to speak directly to dozens of CEOs and 3x as many domain experts in all of finance, investment and ERPs. One such expert I had the chance to talk to was Shishir Khadka The Cash Flow Specialist. Here's me and Shishir talking on at what point it makes sense for businesses to focus on their cash. Comment for our whole discussion. #Agicap #cash #growth #complexity  

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💥 𝗡𝗶𝗴𝗲𝗿𝗶𝗮-𝗯𝗮𝘀𝗲𝗱 𝗳𝗶𝗻𝘁𝗲𝗰𝗵 𝗠𝗼𝗻𝗶𝗲𝗽𝗼𝗶𝗻𝘁 𝗴𝗮𝗶𝗻𝘀 ‘𝘂𝗻𝗶𝗰𝗼𝗿𝗻’ 𝘀𝘁𝗮𝘁𝘂𝘀 𝗮𝗳𝘁𝗲𝗿 𝗿𝗲𝗰𝗲𝗻𝘁 $𝟭𝟭𝟬𝗺 𝗳𝘂𝗻𝗱𝗶𝗻𝗴 𝗿𝗼𝘂𝗻𝗱 🦄 Nigerian 🇳🇬 startup Moniepoint Group just closed $110 million in new financing, and it has landed Google’s Africa Investment Fund as a new investor. The Series C round was led by Development Partners International (DPI)'s African Development Partners (ADP) III fund. Other investors, including African private equity firm Verod Capital and existing investor Lightrock also participated. Moniepoint, also backed by QED Investors, British International Investment (BII) and Endeavor Catalyst, has raised over $180 million since its launch in 2015. According to the Financial Times, the round makes Moniepoint a unicorn — a private company with a valuation of $1 billion or more. The African fintech was last valued at nearly $800 million in a QED-led round two years ago. Full release on TechCabal: https://lnkd.in/ejDTftc4 #Africa #Unicorn #Nigeria #Fintech #Payment #POS

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Paris-based VC Breega hits first close of $75M Africa fund to back pre-seed and seed startups #paris-based-vc-breega-75m-africa-fund

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SuperApps are the future.. Uber's CEO, Dara K, excited the market with a possible acquisition of Expedia... Uber is already delivering rides (cars, two wheelers, taxis, train tickits), couriers, food, groceries, pharmacy... India is seeing two different approach to building a superapp Tata's with Tata Neu Super App includes fashion, groceries, hotels, cars, gold, airline tickets all in one app but has limited(no) success currently... Swiggy with one app for food, grocery and courier Zomato plans to create separate apps for food (Zomato), groceries (Blinkit), entertainment (District).. Talking about Zomato... I saw a X post which mentioned that the idea behind raising another billion $$$ in QIP, even after having a billion $$$ cash already, may be to acquire a smaller travel app like Yatra or similar.... So.. Zomato may try an Uber #zomato #uber #expedia #stocks #swiggy

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Does it make sense to 𝗺𝗼𝘃𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗨𝗦 as a founder 𝗳𝗿𝗼𝗺 𝗘𝘂𝗿𝗼𝗽𝗲? 🤔 Short answer: YES. 🚀 Long answer: Also yes, and here’s why… According to this insightful piece by Data Driven VC 📝, moving to the US can significantly boost your startup's unicorn potential 🦄. 🇺🇸 is a powerhouse for networking, funding, and scaling. So if you're on the fence about making the move, it might be time to take the leap! 🌍 ➡️ 🇺🇸 Big thanks to the authors (Dr. Andre Retterath and Jérôme Jaggi) for the great insights! 🙌 Check out the full story here: https://lnkd.in/e2fmgvDk

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It would be amazing if someone could create a post detailing the unit economics of a fintech business. Gross profit margins, payback periods, LTV, and so on. Maybe even compare different types of Fintech startups, BNPL, payment processors, lenders, etc.

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https://lnkd.in/epFgH79T You’ve probably read tons of articles about the different rounds of VC funding and all the associated terms, but how often do you come across something that really breaks down the numbers? Ever wondered how to keep track of your startup’s equity as you grow? Dive into our hands-on guide to cap tables, where I break down everything from your first seed round to that exciting exit moment.  By walking you through various scenarios and terms with comprehensive examples and visual aids, I offer a solid foundation for managing equity financing in startups. While real-world cap tables can be intricate, this primer ensures fair ownership and proceeds distribution, helping you maintain investor confidence and support your startup’s long-term growth.Let’s get your cap table game on point!

**How big is that founder secondary bag 💰💰💰?** When investing, we encourage founders to take some cash off the table as part of the deal. This creates alignment for the next stage of the journey and recognizes the work done to date. 💸💸💸 The size of the founder secondary is influenced by several factors, including: 1. **Age of the Business** 📈: The longer the business has been around, the more personal sacrifices founders are likely to have made, which increases the potential cash-out amount. 2. **Personal Financial Situation of the Founders** 💼: How much will this change the founder's life? The goal is to make it “life-enhancing” without being dramatically “life-changing.” 3. **Cash Needs of the Business** 💵: Is there enough cash going onto the balance sheet (or is the company already cash generative)? You want the right balance between cash in and cash out, depending on the business's needs. 4. **Continuing Role of the Founder**: We want founders to maintain a meaningful level of skin in the game post-financing. However, if a founder is leaving the business, we’re okay with cashing them out fully. 5. **Number of Founders** 👥: More founders may mean a smaller slice of the pie for each, affecting individual payouts. 6. **Motivation for the Secondary** 💭: Why are the founders selling? Is it to partially diversify and de-risk, or are they looking for the exit door because of something we don’t know? Secondary sales can provide meaningful liquidity, but the exact amount depends on these key factors. Many VCs don’t actually like founders taking cash off the table. Where do you stand? Comment 👇🏻 --- I invest in bootstrapped and capital-efficient technology companies. Kennet Partners #Startups #Founders #SecondarySales #Fundraising #Entrepreneurship #Bootstrapping #SaaS #Growth

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My Experience with VCs at the SOSV Climate Tech Summit During the SOSV Climate Tech Summit, I have learned that VCs are ready to write checks and bet on pre-seed startups if key criteria are met: a target market worth over a trillion dollars, the potential to reduce gigatonnes of emissions, and a strong, trusted team. 💰💡 I’m excited to share that our Circular Architectural Techniques (#CATs) have caught the attention of climate tech VCs, corporates in the built environment, NGOs, and even organizations like ESA. 🚀🌍 Are you an experienced #CFO or #CTO, trusted by VCs, corporates, and organizations in the built environment on Earth—and beyond? Let’s talk about an unparalleled opportunity to make the impossible possible through radical collaboration and system change with impact-driven innovation. 🌱🏘️ It’s all about solving the #ABCCrisis: #Affordablehousingshortage, #Biodiversityloss, and #ClimateCrisis. 🌍🛠️ October 2024 is your time to act. Join us on this journey. 🌍🚀 I’m also excited to share a short video from my elevator pitch at the NL Space Campus' Network & Drinks at Space Expo Noordwijk on October 3rd, where I introduced our vision for #CATs, #CircularBlueMoonVillage, and #LunarNomadYurts. 🌍🚀 A big thank you to Paul Robert VAN DER HEIJDEN for capturing the video! 🎥📸 Looking forward to more moments like these as we continue our journey toward radical collaboration and impact innovation. Let’s make the impossible possible! 🌱🏘️ CATs Break Barriers to Build Better Worlds Together! ☀ 🐉 🦁 #CarbonRemoval #ConstructionInnovation #EUClimateAction #GreenBuilding #CircularEconomy #climatemayor​ #NKW2024

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As an EIR at Peachscore Accelerate, I have the privilege of talking to many startups and sharing my feedback on their ideas and their very first version of their product. It's interesting to see how many people are working on a new DATING APP! But the question is: Do we really need more dating apps, or should we focus on relationship-building apps? So, this is my take: it's never been easier to date, yet it has never been more difficult to build a relationship. And that is the problem they should focus on, not new features on dating apps. Take San Francisco, for example. San Francisco has a high population of tech professionals, living a fast-paced lifestyle where many may prioritize their careers over relationships. Add to that, the city's progressive attitudes can lead to a non-traditional relationship structures like open relationships, which may not align with everyone's preferences. Moreover, the transient nature of the population, when many residents moving in and out of the city for job opportunities, can make it challenging to establish long-term connections, not to mention the numerous options. How can one tackle these challenges? Do you believe the focus should shift towards relationship-building apps? How do you see the future of dating and relationships in today's world? 💬 #DatingApps #Relationships #TechIndustry

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