Two weeks ago, I came across a video by Tayo Aina titled “He Left USA to build a Billion Dollar Tech Company in Nigeria’’ although the clickbait headline is irresistible, what really attracted me was the interviewee, Iyinoluwa Aboyeji — one of Africa’s most influential young entrepreneurs!
Aboyeji’s story is amazing and truly inspiring. From his early successes and failures, pivots and how he eventually went on to launch Bookneto, Andela, Flutterwave and the latest, Future Africa (Fund for Africa’s Future).
Future Africa (Fund for Africa’s Future)
Future Africa is an early stage venture fund that connects investors — both individuals and corporate — to mission-driven founders who are turning Africa’s most difficult challenges into global businesses.
What makes Future Africa really special is not only the unique types of businesses it invests in, ranging from sectors such as agriculture, education, logistics and finance for example, but also the manner in which it has been trying to democratise access to investing for the general public.
Future Africa Collective
The Future Africa Collective is an exclusive membership club that allows investors to get involved in investing alongside the Future Africa team on a deal-by-deal basis through investment syndicates, in the best early-stage tech ventures in Africa, verified and vetted by Future Africa.
Future Africa Fund
The Future Africa Fund enables limited partners to get diversified returns without having to take on deal-specific risk. Limited partners can commit a minimum of $25,000 per quarter and gain pro-rata exposure to all investments Future Africa participates in.
In addition to developing different funding instruments, at the core, Future Africa’s main goal is to develop an entire tech-ecosystem across the continent.
On one side, literally anyone with the required financial capacity can deploy capital in some of the most prominent African startups and learn to angel invest, on the other side of the spectrum, Startups receive support to find their product-market fit, adopt to regulations, are exposed to a resourceful network of investors and others entrepreneurs, and through Future Africa’s most ambitious project, the recently announced — Talent City.
“Imagine a city designed for the future of work. Where remote work-friendly policy, co-living, speedy internet, world class infrastructure and incredible talent seamlessly integrate to give you an amazing digital experience.” — talentcity.ng
“The city of the builders of tomorrow” as Aboyeji describes it, is a groundbreaking project aimed at creating an alternate reality that sparks innovation and productivity, making it easy for any digital creator, founder and tech professionals to flourish while attracting tech and IT Talent from around the world.
The idea is to have a chain of charter cities operating as technology hubs, adequately equipped with fast internet, convenient transit and reliable infrastructures with its own entrepreneurial-centric regulations and bylaws.
Future Africa wants to replicate the success stories of Shenzhen, Dubai, and Bangalore, and become the new tech capital of the world.
Talent City’s first location will be Talent City Lagos, located in the Lekki Free Zone in Nigeria. The special economic zone fosters a business friendly environment with policies including zero corporate tax and ease of remote company registration.
A major part of the investments deployed are coming from Future Africa and its investors, however, the team is currently busy developing a structure that will enable individual investors to join as well.