ABAN & AfriLabs Partner to Launch Catalyst
SEPTEMBER 12, 2019
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.
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.
To get more information or engage further through Startup funds, kindly contact firstname.lastname@example.org or email@example.com. Also, to learn more about African Business Angels Network (ABAN) visit: https://abanangels.org and to learn more about AfriLabs, kindly visit: https://www.afrilabs.com.
Ethiopian Airlines has given all AfriLabs Annual Gathering guests a 30% discount on Economy class and a 20% discount on Business class fares. The Promo Code is AAG19 and the Promo link: https://www.ethiopianairlines.com/AA/EN/event?key=AfriLabs-Annual-Gathering-2019.
Also, Kenya Airways has given all AfriLabs Annual Gathering guests a 30% discount on both Business and Economy class fares. Promo Code is AFRILABS19 and the Promo link: https://www.kenya-airways.com/afrilabs-annual-gathering-2019/.
AfriLabs Foundation is a network of 158 technology and innovation hubs across 45 African countries. We started out in 2011 and work with innovation hubs to build an innovation infrastructure that will encourage the growth of Africa’s knowledge and digital economy, by supporting the development of start-ups, technology, and innovation.
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