FOR AFRICA
As a founder, fundraising is one of the hardest things you’ll have to do. It’s even more difficult in Africa because the odds aren’t stacked in your favour. The rules and the playfield are different. We sat down with three of the most prolific VCs in Africa and distilled their insights into a playbook for you. This will give you a visceral and firsthand knowledge of what VCs look out for when investing in African startups. It’s nothing you’ll find anywhere else on the internet. Whether you’re a pre-seed, seed, Series A startup, or founder, this playbook will give you actionable steps for fundraising in Africa.
Should you raise money or bootstrap your business?
This is the million-dollar question every founder has to answer. Not every great business idea is venture-backable, and understanding VC economics is important before you waste months chasing the wrong funding path. We break down what makes a business truly venture-backable in Africa, the red flags that suggest you should bootstrap instead, and how to know if your exit vision aligns with investor expectations.
What VCs really bet on
An idea can be venture-backable, but VCs still pass because of the founder and team. In Africa's fundraising landscape, domain expertise often trumps everything else. We reveal what successful African founders have in common, how to build conviction with global VCs who don't understand your local market, and what to do if you lack domain expertise but have a killer idea.
How much traction is enough?
African startups face different traction expectations than Silicon Valley counterparts. "Logical businesses" that solve real problems get funded here, not just moonshot growth stories. Learn the cost-to-serve traction framework, what metrics matter to African-focused VCs, and industry-specific traction guides for fintech, SaaS, e-commerce and more.
Choosing the right investors
Don't be that founder who uses the scattergun approach. Pitching is a numbers game, but founder-investor fit matters more than you think. We cover how to properly research investors, ensure stage and sector alignment, craft pitches that resonate with global VCs, and manage the follow-up process like a professional sales funnel.
The term sheet
Getting a term sheet is exciting, but the terms inside will shape your relationship with investors for years and determine how much money you make if you exit. Learn what to watch out for in liquidation preferences, how dilution can devastate founder ownership, the dangers of excessive veto rights, and why pro-rata rights matter more than you think.
Get the fundraising playbook
African startup fundraising guide with insider tips from leading VCs. Step-by-step strategies for raising capital in Africa.
Get the fundraising playbook
African startup fundraising guide with insider tips from leading VCs. Step-by-step strategies for raising capital in Africa.
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