Had a Zoom conference earlier this evening. Hosted by an institutional VC here in Africa. Mostly comprised angels.

Main topic was 'investing + strategies during and post covid-19'.

It was interesting to hear the different perspectives.

2). A point that was touched was the phenomenon of African founders and valuations.

Insti. VC said "African founders think we're the worst investors, bcos we reject their (often) sky-high valuations. But they still come back to us for money, in the end.

3). The discussion also danced around the fact that angels and VCs in the African scene need to work together more. This is something we have failed desperately at.

But tbh, there is a lack of collaboration between these two groups on two levels, imo:

4). 1st level: general relationships between angels + VCs (or PE firms, rather). There was a notion that the investment space here, goes: angels ---> PE (or 'PE Lite')..

That's deep. It says 2 things. We dont have risk-taking VCs, more just lighter PE firms (investment criteria)

5) and that we dont actually have intermediary stages, between angels and "growth stage" or PE Lite firms. There is a complete lack, a dearth of note.

2nd level: there is a disconnect between angels/VCs from diff. African countries. Imo, most n angels/VCs are very siloed..

6)... in their investment thesis. Havent seen a single investor, bar Pule Taukobong, actually invest in the continent and a couple of angels/micro-angels like myself.

I am not talking about n-domiciled angels/VCs or PrivEquity/banks. Not the big boys/gals. I mean early-stage.

7). Interesting to note, esp. in this conference, collaboration between investors (local/international) on other tech hubs in Africa: Ghana/Nigeria/Kenya, for e.g.

South Africa not as much. Again, by our own fault. My thesis has been (ex-SA)Africa-focused for this very reason..

8)...I also think that the rest of Africa has an insane amount of talent and intellectual capital compared to us. But because our economy (wrongly so, imo) is seen as a powerhouse, a lot more investors still plough a lot of cash into us. This narrative will be rectified with time

9)...by myself and a few other investors. It's a lifelong mission for me. Dont get me wrong, I love n founders and tech. I just think that our nation is siloed and unrealistic in how high it holds itself in terms of tech + talent compared to rest of the continent.

10). Back to the conference, it was a good + open discussion. Our venture scene still has a long way to go. But post-covid, if we collaborate more and more, and build the relevant bridges, we will make it. Stronger than we were pre-covid.

We have so much 2 build...

11). But it will come together in due time.

Our VC scene, as a continent, will be soon.