We’re pleased to announce that applications are open for VC4Africa’s June 2013 Cohort, a unique opportunity for Africa’s most promising entrepreneurs to raise capital. Selected entrepreneurs will receive, among other things, targeted coaching and dedicated access with personal introductions to the VC4Africa investor network, Africa’s largest network of SME investors. Application closes Wednesday June 12th.
What are the criteria for participation?
Ventures that apply to be a part of VC4Africa’s June 2013 Cohort must have a solid business plan, clear market strategy, a working pilot, and a skilled and experienced team. A chamber of commerce registration and complete documentation is a must. See the 5 steps to fundraising on VC4Africa and take a look at the VC4Africa Quick Scan to test in how far your venture meets VC4Africa’s key criteria. Saskia Reus, Head of VC4Africa’s investor services expands, ‘Bottom line, we need to believe in your business opportunity in order to explain the opportunity to investors. We need to be convinced to such an extent that we would want to invest our last money in your company.’
Will you be the next success story?
Application closes Wednesday June 12th and the entrepreneurs selected for VC4Africa’s June 2013 Cohort will be announced one week later. Selected entrepreneurs will get about 2 hours per week of coaching and feedback on their plans and financial projections within a 3 month period. VC4Africa will provide featured interviews and other promotion of the June 2013 Cohort. The VC4Africa team shares best practices in the market and increases skills in for example finance and marketing. In addition to that, VC4Africa actively connects with investors that match the entrepreneur’s profile, facilitates the introductions and answers initial questions from either party. After introductions to the investors, entrepreneurs also receive support in navigating the deal closing process, and have discounted access to VC4Africa’s network of partners. The final output is a term sheet the entrepreneur can use for closing a deal.
How to apply?
To apply for VC4Africa’s June 2013 Cohort your venture has to be registered on the VC4Africa platform. After you’re signed up on VC4Africa and have created a venture profile, check out the 5 steps to fundraising on VC4Africa, make sure to complete the VC4Africa Quick Scan and to upload all relevant documentation to your venture profile. Only investors registered as part of the VC4Africa Investor Network can access these documents.
To complete your application, you have to register an intention to raise a round of funding. You’ll find a “Fundraising” box on the right side in your venture profile. In this box, click “Get started” to apply. You need to indicate the financing stage of your venture – Seed, Start-up, 1st round (Series A), 2nd round (Working cap), 3rd round (Mezzanine) or 4th round (Bridge). You also need to indicate the financing type – Equity, Debt or Hybrid and your capital needs (between USD $10,000 and USD $1 million). Selected entrepreneurs will receive targeted coaching to reach their fundraising goal.
Your application is complete when you have completed the above mentioned steps.
Previous participants include ventures like Penda Health and m-Kazi. Where Penda Health went on to win major business plan competitions and launch several clinics, m-Kazi grew its mobile jobs service and closed a round of funding. Lino Carcoforo, Co-founder and COO at Innovation for Africa Fund (i4A), one of the backers of m-Kazi, explains, “VC4Africa is a fantastic team of consummate professionals that have channeled their expertise and resources to getting investment worthy start-up’s ready to receive investment. i4a has worked closely with the team and it has been an invaluable experience culminating in secured follow on investment. Keep up the awesome work.”
Previous participants coached by VC4Africa have raised more than $1 million in funding. Joint ventures and investments have been secured in countries as diverse as Cameroon, South Africa, Egypt, the United States, Kenya, Nigeria, the Netherlands, Somalia and Zambia. VC4Africa’s network of Investors the largest network of African SME investors. We recently profiled 40 investors from VC4Africa’s network.
Apply now for VC4Africa’s June 2013 Cohort by creating a venture profile, adding all relevant documents, and registering your intention to raise a round of funding. Application closes Wednesday June 12th.