AfriLabs has taken a significant step in reshaping the investment landscape in Africa with the launch of the AfriLabs Connect Deal Room (ACDR) at the 2023 Annual Gathering event. Designed to address the challenges of identifying, funding, and accessing investible startups in Africa, ACDR aims to streamline financing for innovative startups across diverse sectors while providing investment funds access to a Pan-African pipeline of investible and de-risked startups.
During the inauguration of this strategic initiative, AfriLabs’ Chief Operating Officer, Ajibola Odukoya, emphasized the pivotal moment for the continent’s innovation landscape. The primary mission of ACDR is to promote a dynamic investment ecosystem by allowing funds and investors to register their portfolio startups into a private pool through the Deal Room. This pool facilitates precise matching of companies based on factors such as ticket sizes, sector of interest, and detailed specifications, utilizing AI technology.
AfriLabs boasts a vast network of over 500 physical innovation and technology hubs across 54 countries and over 250 cities. This network plays a crucial role in providing follow-up support for ACDR’s efforts by fostering Pan-African collaboration and offering additional investment readiness resources to the startup founders involved in the initiative.
The AfriLabs Connect Deal Room has garnered support from global venture capital networks, including Renew Capital, International Accelerators, Neterra Capital, and business support tools and services such as Silicon Valley in Your Pocket, all of which are pioneer partners in this transformative initiative.
Ajibola Odukoya highlighted ACDR’s strategic focus, stating, “AfriLabs Connect Deal Room (ACDR) is targeted at hubs with mature startups aiming to scale with sizable Pre-Series, Series A, B, and C type of funds. We’ve lined up an investor pipeline that has Africa in mind, adapting their business processes to the continent and ready to collaborate with startups looking to scale up.”
Operating on AfriLabs Connect, a purpose-built ecosystem engagement platform assembling Africa’s largest community of innovation enablers, ACDR marks a transformative step towards propelling Africa’s startup ecosystem to new heights. This initiative reinforces AfriLabs’ commitment to fostering innovation, collaboration, and sustainable growth across the continent.