Baobab Network, a Nairobi, Kenya- Lagos, Nigeria- and London, UK-based early-stage investor and accelerator that backs technology companies across Africa, announced that they intend to invest in 1000 companies between now and 2033.
Launched in 2019 by Toby Hanington, Baobab Network is an early-stage investor and accelerator that backs technology companies across Africa. Launched in 2016, Baobab is a sector and geographically agnostic investor within Africa, and entrepreneurs that join its accelerator receive $100,000 USD in funding as well as participate in a 12-week accelerator designed to set each business up for scale.
The firm has already completed 10 deals this year, with another larger cohort expected in Q4. The new cohort includes Brandrive, PocketFood and Bunce (all Nigeria), as well as Kawu (Uganda) & Alal (Senegal). Each company has received $50k directly from Baobab, with another $50k investment from their newly launched co-investment vehicle.
Baobab counts a number of global business leaders, institutions and investors amongst its investor-base, committed to supporting Baobab’s future as a multi-product asset management platform, driving the next generation of technology companies in Africa.
Additionally, Baobab recently hired Niama El Bassunie as Managing Partner – a YC alumni and one of Africa’s only exited entrepreneurs.