VC Strategies & Startup Growth in Africa - Bongani Sithole, Founders Factory Africa
In this episode of The Founder Files, we sit down with Bongani Sithole, the Co-founder and CEO of Founders Factory Africa (FFA). As one of the largest early-stage investors on the African continent, FFA has made significant strides, investing in over 70 startups in under six years.
Bongani shares the innovative approach that sets FFA apart from traditional venture capital firms. Instead of relying on the conventional LP model, FFA used corporate partnerships for their capital.
We delve into the state of early-stage investment in Africa, exploring the challenges and opportunities ahead.
Gain a deep understanding of how Bongani scaled FFA into a thriving organization with a team of over 70 people across multiple countries. He discusses how he is managing a diverse and dispersed team and shares lessons learned from FFA’s portfolio’s successes and failures.
This episode also covers FFA’s exit strategy and vision for the future.
Enjoy this deep dive into the VC world where we see how another entrepreneur is helping the ecosystem thrive.
Too Long; Didn't Listen? Here's what to look for:
02:40 The Business Model of Founders Factory
07:28 Founding Story and Raising Capital
15:39 Getting Standard Bank On Board
22:59 Learning and Evolving the Business Model
30:00 Establishing As a Pan-African Company From The Beginning
36:04 Growing And Scaling Investment Companies
43:46 Brought To You By Metavolve
45:09 Providing Businesses With Tailored Services
51:28 Shifting From Accelerator To VC Firm
58:26 Managing 70 Team Members Across 15 Countries
1:00:49 Lessons From Failures
1:06:57 Founders Factory Exit Strategy
1:11:28 The Future of Founders Factory
1:15:13 Bongani’s Take on Commercial & Impact
1:17:19 Reflection
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