Investing in Africa’s local and global tech potential W
ith the rate of
Taking a broad view into the near
technology adoption
future; it seems unlikely that the
continuing to accelerate,
and Africa steadily producing a wave of technology giants, with
Ian Lessem Managing Partner HAVAÍC
Nigeria’s Flutterwave becoming
greatest contributions to and innovations in biotech or space travel will emerge from Africa (although I would be thrilled to be
Africa’s most recent tech Unicorn,
at the prospects coming out of the
proven wrong here). However, when
now truly is an incredible time to
VC space in African markets which
it comes to finding commercial
support and invest in local, African
are truly world class opportunities
and innovative solutions to local
Venture Capital (VC).
with local and global potential.
challenges with global relevance, African founders are really paving
As the managing partner of an
At HAVAÍC, we focus on local
the way, and proving not only that
African focused VC investment
African technology-based
they can scale, but that they can
manager, where we look to invest
investments. A common question
also scale quickly, both locally
in opportunities that significantly
that comes our way is, “How can a
and abroad.
outperform the traditional
Cape Town start-up compete with
investment market, I am constantly
a start-up in Palo Alto, Singapore,
As a VC investor we place great
comparing the VC opportunities
London or Tel Aviv? Given the
emphasis on supporting and
that come past my desk with
resources that those businesses
investing in startups with
other investments which include a
have at their disposal, surely
commercial and globally relevant
myriad of asset classes and sectors
African startups can’t compete?”
solutions, where the founders and
available both locally and abroad.
To which I reply, “They compete
their technology have a ‘right to
Doing this day in and day out, I can
out of necessity; as necessity is the
play’, and their business provides
honestly say just how excited I am
mother of invention.”
real-world solutions that can scale
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