Spark and the state of Angel Investing in Africa.

88mph have invested in 36 companies during 2011–2014 in Kenya and South Africa and have fully invested our funds. In the next 18–24 months, we will focus on working with the companies we have all ready funded to get some good return for our investors and founders. So, if you are a startup looking for funding in these markets, then we will unfortunately not be able to help you at the moment.
Last week the leading African seed investor and incubator 88mph announced they were no longer funding startups. This makes me sad. Yet not overly surprised. When I first started Spark, 88mph were already well on their way to establishing themselves as a serious and pioneering force in angel investing in Africa. I had pure portfolio envy as I researched the startups they had already funded and realised we would never achieve their breadth, depth and scope.
So we focused on Lagos only. Bastian and I were based there so we had a little alpha to bring to table. Nonetheless, I made it my mission to ...

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