Connect Deal Room launched by AfriLabs to boost local investment landscape
AfriLabs, a support organization for innovation hubs, has introduced the AfriLabs Connect Deal Room (ACDR) to tackle the significant obstacles associated with locating, financing, and gaining access to investable startups in Africa.
AfriLabs is a network organization that brings together investors, startups, technology hubs, and other important players in the ecosystem with the goal of promoting innovation and entrepreneurship across the continent. With more than 430 members.
AfriLabs unveiled the ACDR during its 2023 Annual Gathering event. Its goal is to facilitate financing for creative startups in various African sectors while giving investment funds access to a pan-African pipeline of investible and de-risked startups.
Funds and investors can register their portfolio startups into a private pool through the Deal Room, fostering a dynamic investment ecosystem. With the use of AI, this pool facilitates more accurate matching between businesses based on parameters such as ticket sizes, industry of interest, and comprehensive specifications.
Furthermore, AfriLabs’ extensive network of more than 500 physical innovation and technology hubs dispersed throughout 54 countries and more than 250 cities makes it easier to provide follow-up support for ACDR’s endeavour by encouraging pan-African collaboration and providing additional resources to help the initiative’s startup founders get ready for investment.
Pioneer partners in the ACDR include international venture capital networks like Renew Capital, International Accelerators, and Neterra Capital, as well as business support tools and services like Silicon Valley in Your Pocket.
“AfriLabs Connect Deal Room is targeted at hubs with mature startups aiming to scale with sizeable Pre-Series, Series A, B, and C type of funds. We’ve lined up an investor pipeline that has Africa in mind. These investors are adapting their business processes to the continent, and they are ready to work with startups looking to scale up,” said Ajibola Odukoya, chief operating officer of AfriLabs.
AfriLabs Connect, a specially designed ecosystem engagement platform that brings together Africa’s largest community of innovation enablers, will host the ACDR’s operations. The aforementioned initiative represents a significant advancement in elevating the startup ecosystem of Africa and bolsters AfriLabs’ dedication to promoting creativity, cooperation, and sustainable development throughout the continent.
