The Africa Early Stage Investor Summit 2023 concluded with resounding success, uniting 350+ investors, founders, and industry leaders continent-wide. Organized by VC4A & African Business Angel Network (ABAN), this two-day summit emerged as the pivotal platform for robust discussions, networking, and collaboration, advancing the African early-stage investment landscape.
“AESIS connects early-stage (angel) investor networks with VCs, guiding founders’ fundraising journeys. The exchange of knowledge and experiences is invaluable to the startup ecosystem, directly supporting founders in their entrepreneurial adventures.” Vincent Hoogdyn, CEO of VC4A.
ABAN CEO, Fadilah Tchoumba, noted the important role AESIS plays in fostering collaboration and knowledge sharing between angel investors and VCs, influencing investment activities within the African startup ecosystem. “AESIS stands as a transformative force, weaving a tapestry of opportunities that contributes significantly to the overall growth and development of entrepreneurship on the continent. Through its dynamic platform, the summit becomes a nexus of ideas, collaborations, and strategic insights, nurturing an ecosystem where innovation thrives, startups flourish, and the entrepreneurial spirit ignites. By fostering connections and knowledge exchange, AESIS paves the way for a resilient and vibrant landscape, where the seeds of today’s ventures blossom into the success stories that shape the future of African entrepreneurship.”
Key highlights of the summit
1. Insightful Opening Townhall & State of Industry Overview: The event kicked off with a thought-provoking Opening Townhall, moderated by the host Hope Ditlhakanyane, featuring AESIS advisor Eghosa Omoigui, and AESIS partner representatives Eleni Gabre-Madhin, Laurien Field, and Jean-Marie Kananura, who reflected on the theme of 10x-ing early-stage investing in Africa, and set the scene for the impactful conversations that followed.
Maxime Bayen of Africa: The Big Deal expanded this sentiment in his address sharing that the number of active investors in startups in Africa has doubled from 242 in 2019 to 529 in 2023, additionally funding raised by startups in Africa has grown 119 times in 10 years from $27M in 2014 to $3.2B in 2023 (YTD). The primary emphasis of the overall message underscored the importance of deriving lessons from failures we’ve seen, gaining a more realistic perspective on exits through data, and strategically incorporating this information into the efforts to strengthen our collaborative ecosystem.
2. Masterclasses and Breakaway Sessions: Attendees immersed themselves in an array of masterclasses and breakaway sessions, covering pivotal topics such as “The Winning Recipe for Deal Collaboration” and “The Anatomy of Effective Corporate VC”, as well as AESIS partner series covering Impact in collaboration with UNDP’s Africa Sustainable Finance Hub, and Gender Lens Investing in collaboration with IFC’s “She Wins Africa initiative”.
Notably, the Angel Investing Roundtable also saw the successful launch of the ABAN 2023 Angel Investment Survey Report. Here are the report’s key highlights in the report:
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How 2,058 angel investors invested over $22.5m across 408 deals, averaging $55.2k per ticket.
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Emerging trends in angel investing, showcasing how early-stage capital can be unlocked locally through transparent frameworks, supporting investment instruments, and a seamless process for business angel investors.
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Stories that inspire: “The Rise of Angel Investing in Francophone Africa”; “Emergence of Sector-Specific Angel Investing”; “The Important Role Female Angel Investors Play Within the African Startup Ecosystem” and “The Role of Domiciliation”
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Unlocking Capital and Unleashing 10x Early-Stage Investments In Africa; “Exit strategies for Angel Investors in Africa” and “The impact of angel investments on local economies.”
3. Deal Morning: In partnership with VC4A, SU Launch Lab, Next176, JICA, GIZ SAIS, MADICA, and Founders Factory Africa – 28 founders were given the stage to showcase their business together with their attending investors. This setup facilitated meaningful connections not only between entrepreneurs and investors but also between investors unlocking potential co-investments.
4. Ecosystem Side Event: The 2nd official Ecosystem Side Event took place on Saturday the 2nd of December, hosted at the WomHub coworking space, spotlighting the symbiotic relationship between Entrepreneur Support Organizations (ESOs) and investors. Panels, case studies, and presentations such as The ESO as an early stage investor, by Cindy AI of Dream VC, highlighted the collaborative efforts driving entrepreneurship development and active opportunities for co-creation and progressive innovation efforts.
The summit concluded on a high note with a Closing Cocktail, with the first AESIS awards handed out in the following categories:
- AESIS Most Valuable Players Award – to attending members that have attended more than 6+ annual Summits
- AESIS2023 Outstanding Investor Meetup Award – Serengeti Angels and Ennovate Ventures as the hosts in Dar es Salaam, Tanzania
- AESIS2023 Outstanding Angel Network Award – RisingTide Africa
- AESIS2023 Outstanding VC Company Award – Founders Factory Africa.
The lead-up to these extraordinary two days in Cape Town has been marked by a series of numerous events throughout the year. Notably, investor meetups unfolded across Africa and the globe in September and October. A heartfelt recognition is extended to our dedicated investor meetup hosts, whose tireless efforts and incredible energy culminated in the remarkable achievement of organizing a record-breaking 36 meetups for 2023. Their commitment has truly set the stage for the success of this momentous occasion.
Gazing into the future…..
The journey continues with optimism and anticipation. The culmination of AESIS2023 marks a milestone, yet it’s merely a stepping stone toward what lies ahead. The path forward holds the promise of deeper collaborations, innovative ventures, and a sustained commitment to fostering the growth of entrepreneurship across the continent.
With the unwavering support of our esteemed partners, including Investec, Next176, UNDP, Timbuktoo, JICA, GIZ SAIS, GIZ MAKE IT, Madica, Womhub, OceanHub Africa, Founders Factory Africa, Untapped Global, US Consulate, Double Feathers Partners, SU LaunchLab, SA SME Fund, Value for Women, International Finance Corporation, Kigali International Financial Center, Dutch Good Growth Fund, and South Africa National Conventions Bureau, we look forward to charting new territories and making a lasting impact.
The journey ahead is marked by opportunities to nurture innovation, empower emerging startups, and create a dynamic ecosystem that transcends boundaries. Together, we embark on this forward-looking expedition, fueled by the spirit of collaboration and the shared vision of shaping a vibrant entrepreneurial landscape for generations to come. As the chapters unfold, we remain committed to the ongoing narrative of growth, development, and the relentless pursuit of excellence in the realm of early-stage investing in Africa.
“The sustainability of ecosystems is intricately tied to the continuous exchange of knowledge within them. In the dynamic web of life, the survival and thriving of these ecosystems are not merely dependent on isolated elements but flourish through the constant flow and sharing of information, fostering adaptability, innovation, and resilience— that’s the power that we have here!” – Tomi Davies, President of African Business Angel Network (ABAN).
Have a glimpse at the summit’s photos here.
