Meet ABAN — African Business Angel Network
Building a culture of angel investing by fostering the development of new ecosystems.
🙏 Thanks in advance for reading this article. It’s part of a series called Ecosystem Players where I highlight and celebrate startups, founders, and initiatives that foster the development of the tech ecosystem across emerging markets.
Surely the African startup ecosystem has been in the spotlight for the rate of growth and amount of capital pouring in, but have you also noticed the maturing and expansion of angel investing in the continent?
The potential has always been there, with a few initiatives operating in silos around Africa trying to provide the capital founders would need to develop their ventures. In November 2014, 6 pioneer angel networks in Africa, namely the Lagos Angels Network (LAN), Cameroon Angel Network (CAN), Ghana Angel Network (GAIN), Venture Capital for Africa (VC4Africa), Silicon Cape, with backing from the European Business Angel Network (EBAN), came together for the establishment of the African Business Angel Network (ABAN).
ABAN is a Pan-African non-profit association with the mission of creating a culture of angel investing and investment ecosystems throughout the continent.
What is Angel Investing?
Angel investing is a form of investing where individuals fund promising startup ventures, seeking a stake in the business, often in the form of equity or royalties, in return for their investment.
They are predominantly known for investments at the infant stages of a company, when it is only an idea, or at the initial operating stages, typically before it requires a more substantial investment from a venture capital firm.
ABAN Foundation
The concept of a Pan-African network was initially discussed during the 5th EU-Africa Forum in Brussels, held in February 2014. As a significant outcome, it was decided to convene an Africa Angel Investor Summit, bringing together various African networks to explore the establishment of a Pan-African alliance.
In September 2014, VC4Africa and Lagos Angel Network (LAN) hosted the inaugural Pan-African Angel Investor Summit during the DEMO Africa 2014 event in Lagos, Nigeria. The summit witnessed the participation of Business Angels, impact investors, venture capital funds, and corporate venture capital managers, many of whom expressed a shared vision for an organized structure facilitating connections across the continent and globally. Subsequently, ABAN was officially launched at the EBAN 2014 Conference in Helsinki, Finland.
ABAN Objectives
ABAN partners with institutions, ecosystems, and early-stage investment firms to create to support entrepreneurs by:
Increasing the pool of angel investors supporting and funding promising entrepreneurs in Africa;
Developing and providing the support infrastructure to maximize the impact of Angel investors in Africa;
Promoting and supporting member groups and networks by providing resources and best practices;
Engaging local, national, regional, continental, and global policy makers on Angel investment as a development asset class.
Partnering with accelerators, incubators, business schools, government bodies, and other ecosystem stakeholders to drive discourse, research, and knowledge sharing for the transformation of Africa’s entrepreneurial ecosystem.
ABAN Footprint
Catalytic Africa
In collaboration with AfriLabs, ABAN launched Catalytic Africa, a co-investment platform that provides complementary funding to angel investments in startups from innovation Hubs.
Read more about the platform.
African Angel Academy
ABAN is also a proud partner of the African Angel Academy, an initiative established in 2020 that offers training and assistance to aspiring or existing angel investors. It provides self-paced online courses and sponsored cohort programs.
Upon finishing one of the courses or cohort programs, candidates join AAA’s alumni network, granting access to learning resources, co-investment prospects, and updates on ecosystem advancements.
Read more about AAA’s programs and courses.
More:
Angel Investing: ABAN Masterclass
Insights on Angel Investing in Africa: Reports & Publications
Help spread the word:
Reference(s):
Forbes. (2022, July 9th). What Are Angel Investors? Retrieved from https://www.forbes.com/advisor/investing/what-are-angel-investors/
Techcabal. (2015, June 23rd). Boosting Angel Investor networks in Africa: Join the ABAN Investor Summit at DEMO Africa 2015. Retrieved from https://techcabal.com/2015/06/23/boosting-angel-investor-networks-in-africa-join-the-aban-investor-summit-at-demo-africa-2015/
African Business Angel Network. (n.d.). Retrieved from https://abanangels.org/
African Angel Academy. (n.d.). Retrieved from https://africanangelacademy.com/
African Business Angel Network. (n.d.). Retrieved from https://abanangels.org/
Catalytic Africa. (n.d.). Retrieved from https://catalytic-africa.com/