ABAN and AfriLabs recently launched Catalyst, a new investment solutions platform for startups in Africa. The platform will increase the pool of funds available for growth-stage entrepreneurs, and increase their impact visibility.
Catalyst will operate as a co-investment fund, linking funds from angel investors with the continent’s early-stage startups. According to a press release, the platform will also support machinery behind startups such as investment hubs and angel networks.
Additionally, the platform will also allow investors to measure the impact of their investments. Catalyst will appraise interested ventures for viability to receive investments from its angel network. At the same time, it will report and monitor startups’ performance after receiving the funds.
Finally, Catalyst will provide guidance and actionable insights into early-stage funding. The partnership between ABAN and AfriLabs will help create valuable connections between startup hubs and investors.
Speaking on the platform’s need, AfriLabs Board Chair emphasized on how Catalyst will restructure the startup ecosystem and enhance innovation hubs. “As the first Pan-African program of this type, developed by Africans, for Africans, I believe that Catalyst will be a real game-changer,” said Rebecca Enochong, AfriLabs Board Chair.
The co-investment fund will first roll out at the end of 2019. Startups are required to register on the platform through AfriLab’s member hubs.