Getting access to Africa’s investor network has potentially gotten a whole easier with Venture Capital for Africa (VC4Africa) and its initiative called Cohorts. The month long (or longer) accelerator programme gives entrepreneurs an opportunity to receive coaching, as well as access and personal introductions to the VC4Africa investor network – potentially Africa’s largest network of SME investors – to aid the raising of funds.
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In what VC4Africa calls a “new opportunity for Africa’s most promising entrepreneurs to raise capital” the Cohorts are divided by month. There was the June Cohort (which will still give coaching up to September), but applications are now open for the September Cohort.
Selected entrepreneurs will get three coaching and feedback sessions, and financial projections within a three-month period. VC4Africa will also provide interviews, and share practices and skills. The initiative will then match an investor to the entrepreneur’s profile, and facilitate an introduction between the two parties. Finally VC4Africa provides a fact sheet that the entrepreneur can use to close the deal.
Kenneth Griffith of Chamapesa, one of the entrepreneurs from the June Cohort, had this to say of the programme:
“Already a few days after being selected and presented in the June Cohort, the first investors approached us for meetings. We have participated in other accelerator programs, but VC4Africa has provided by far the most in-depth consulting and coaching, which has really helped us to improve our venture.”
Previous participants coached by VC4Africa have raised more than US$2-million in funding.
To be a part of the September Cohort, entrepreneur applicants must have a solid business plan, clear market strategy, a working pilot, and a skilled and experienced team. According to VC4Africa “a chamber of commerce registration and complete documentation is a must.”
The easiest way to see if your venture meets the criteria is to read the five steps to fundraising on VC4Africa, or to do the VC4Africa Quick Scan.
To apply for the September Cohort you need to register on the VC4Africa platform, and express an intention to raise a round of funding between US$10 000 and US$1-million.
Applications close on 1 September. Entrepreneurs selected will be announced two weeks later.
