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First In Sight: On The Fundraising Journey

In Sight is the ongoing blog from AfriFindInvest, helping promising tech startups in Africa to prepare to successfully raise capital in today’s challenging fundraising environment. 

We bridge the gap between investors and innovators with a focus on the last mile of the early-stage fundraising journey: getting the perfect pitch deck and data room, and getting in sight of the right investors.

In Sight is of particular interest to the founders of Africa’s tech companies with a proven business model on the path to scale. We provide the insights that you need to raise.

In today’s tougher economic environment, startups’ demand for venture capital remains high, while the supply for that capital has halved to pre-covid levels.

Cash has always been the oxygen of any business and fundraising can offer that lifeline in determining the failure or fortunes of your startup.  Even founders with a big vision find themselves falling short en route to the last mile of fundraising.

Fundraising can feel like a full-time job, and that’s the last thing founders need while trying to keep a fast-moving startup on the road. Having the right partner alongside them to provide some direction can make all the difference.

“Gbenga impressed me with his professionalism, communication, high quality of work, and adherence to timelines. He was able to take on a herculean task with short notice and develop a finished product that exceeded all expectations. Gbenga impressed me with his understanding and creativity. He is a true wordsmith and was able to translate my vision into a beautiful finished product. I could not have been happier with our interaction and the outcome of the project. I would highly recommend his services without reservation, he will not disappoint.

Founder & CEO in EdTech

AFI’s positioning with investors, accelerators, and other networks has given us a privileged insight on Africa’s startup ecosystem. It’s why we’re often fielding the question “What do successful fundraisers have in common?”

While AfrInform holds many an answer, there’s no silver bullet. Successful rounds come in many shapes, sizes, and stages, of which AFI has been lucky enough to play a part in.

In this fundraising winter, we think successful fundraisers need to go over and beyond the hurdles of being post-product and post-revenue: they need to demonstrate the potential for profitable growth, and the credibility to deliver on it.

Earning the trust of newly cautious investors is a marathon, not a sprint. The stakes have never been higher for our continent’s startups and the communities that they serve. Despite the ecosystem’s previous growth it’s still in its early days: founders’ access to the right knowledge and the right networks remains fragile, which directly affects their access to capital.

Where AfrInform was conceived as an evergreen resource on what’s expected of any early-stage startup getting ready to raise, In Sight will be our view on what’s demanded of Africa’s startups in the current market. Our advisory practice will be reacting to changes as they come, and we’ll be sharing what we learn on a regular basis.

In recent months AFI has had to work harder to ensure the extension of both startups’ lifeline — their runway — and the associated lifetime value. Across our In Sight blog, we’ll delve deeper into how you can win tomorrow’s raise, in spite of the fierce competition today.

We’re here to help you set the pace of your raise, whether you need a pitch-perfect deck or the data room that can stand up to increasing due diligence.

In doing so we’re continuing to serve you — our fundraising clients — and the underserved communities who rely on the solutions you’re bringing to market.

Therein lies the massive opportunity for Africa’s tech founders and the investors who support them; the continent is still in the early days of its tech journey, in this blog series we’ll be sharing the insights we’re gathering along the way.

To find out more about how AFI can help your startup grow out of the pre-seed stage and beyond, find out more about our services or book a discovery call today.