Business Plans

African Business Angels Network (ABAN) and AfriLabs Partner to Launch Catalyst, a New Investment Solution for African Startups

ABAN, the largest network of Angel Investors in Africa and AfriLabs, the largest pan-African network of technology and innovation centres, are proud to introduce Catalyst, an initiative to support the African start-up ecosystem and deliver real, measurable impact to stakeholders.

Catalyst is a cross-stakeholder initiative that aims to increase the pool of capital available to promising African growth-stage entrepreneurs, as well as support the startup ecosystem including hubs and angel network. At the same time Catalyst wants to increase the visibility of impact to institutional funders.

Catalyst operates as a co-investment fund that will match investments from qualifying angel investors into African growth-stage companies. Funds from Catalyst will be released after startups have received investments from Angel investors that are part of an angel network registered with ABAN. To be eligible, startups are required to register on the Catalyst platform through hubs that are members of the AfriLabs network. Performance of participating startups after receiving investments will be reported and monitored via the Catalyst platform.

Catalyst is raising funds from various institutional partners to add to a pool. This pool serves as a matching fund to encourage investment in viable startups by verified angel investors. The first Catalyst co-investment fund will be available towards the end of 2019 with a funding partner which will be announced soon. Conversations with additional partners are ongoing.

“When we signed the MOU with AfriLabs at their Annual Gathering in Dar es Salam in 2018, we were excited about the opportunity for partnership between Angels and Hubs on the continent. Catalyst will facilitate the development of those relationships as the first initiative of what we expect to be a highly valuable and long-lasting collaboration between AfriLabs and ABAN.” 

Tomi Davies – President of ABAN. 

‘‘We have all recognized the need to increase early-stage funding for our African founders. Catalyst not only does that, but it helps to structure the ecosystem, supports collaboration, and provides actionable insights into the early-stage funding landscape, all the while strengthening our hubs and our angel networks. As the first Pan African program of this type, developed by Africans, for Africans, I believe that Catalyst will be a real game-changer’’.

Rebecca Enochong
– Board Chair of AfriLabs

If you would like more information or would like to engage further through Startup funds, please contact secretariat@abanangels.org or secretariat@afrilabs.com.


 


 

Innov8tiv.com

Innov8tiv is a dynamic Web source for technology news, resources and innovation, with a special focus on the entrepreneurial advances of Africans on the continent as well as in the Diaspora. This site seeks to not only inform consumers and companies about the latest in tech trends and ideologies, but to shed light on a phenomenon often ignored: the inventive, life-changing and creative engine that exists in Africa and among leaders of color around the world, including the UK, the Caribbean, Australia, and Asia. Send story ideas to info@innov8tiv.com

Recent Posts

5 Famous Professional Poker Players in the World

Image by Nyoman Suartawan from Pixabay Millions of people across the globe enjoy a good…

46 mins ago

Things To Do After Buying a New Car

Image by PIRO4D from Pixabay  Are you on the market for a brand-new car for…

1 hour ago

How Bitcoin Mining Hosting Works in 2022

Do you follow changes in the world? If you monitor it all the time, you…

2 hours ago

Five Ways Construction Equipment Tracking Helps Companies

Photo by Mael BALLAND on Unsplash Running a construction operation is a stressful job and…

1 day ago

Understanding Facebook Ads Management Services

This may come as a surprise, but advertising on Facebook is one of the most…

1 day ago

4 Things to Look Out for When Getting Your First Credit Card

Image Source: Pixabay Credit cards have become one of the most widely accepted forms of…

1 day ago