impact The Opportunity In 135 Words First, Africa has the fastest growing middle class of consumers yet still has a sizable bottom-of- the pyramid population. Second, Africa workforce and population growth rate are the highest of any region in the world. Third, Africans love their mobile phones! Her one billionth subscriber was recorded in 2015. With consumer spending that already exceeds India—and is estimated to exceed $1.5 trillion by 2020—companies that understand existing consumer behavior and are leveraging technology to meet those demands will profit handsomely. Investors that bet on those ventures today will realize explosive upside, aware that their capital is also doing good in severely under-invested communities. Yet Africa receives ~1% of private equity dollars. We are working with the founders developing companies using technology to serve the African consumer.
impact Why We Invest We are global Africans, witness to the power of technology, on a mission to invest where opportunities are overlooked. We have invested in Africa’s people, its resources, and its potential. We believe all investors deserve credible and efficient avenues to benefit from the work of innovative Africans.
impact Mission-Driven Venture Capital for the Emerging African Opportunity a Ventures is a mission-driven venture capital fund • Financial Capital • Intellectual Capital • Strategic Capital • Technology-enabled SMEs with defensible business models • Demonstrated revenue growth • Localized unique value proposition • Built-in social impact
impact Three Reasons to Invest in African Startups EXPLICIT COMMITMENT TO TECH SOLUTIONS BETTER GOVERNANCE, SMARTER INVESTORS GROWING CONSUMER DEMAND/FASTEST GROWING MIDDLE CLASS Africa is like China Circa ’95 •Key drivers of sub-Saharan Africa’s economic growth earlier drove China’s growth: urbanization, labor force expansion, and an increase in the number of middle- class consumers. •Africa has the highest population growth rate of any region, concentrated in cities. •Workforce growth outpacing all other regions. •Middle-class consumer is fastest growing class, and its diaspora is wealthier: African remittances ~$31 billion, Ghana alone received $5 billion. Infrastructure is Designed to Leapfrog • Countries are developing novel infrastructure: mobile- phone led, flexible, controlled by user rather than government. • New broadband infrastructure and proliferation of mobile banking has accelerated growth. • Google, Facebook, Microsoft have been welcomed by governments to participate in Africa’s growth. Foreign Investors Are Making Bigger Bets • Regional, continental institutions are strengthening accountability and the rule of law, thus fostering economic stability. • Policy reforms have improved the business environment for foreign investors, driving interest in private equity.
impact The Technology, Impact and Innovation Fund presents a compelling investment opportunity Concept was developed and tested among American and diaspora investors. Team has deep roots in sub-Saharan Africa and possess a unique understanding of consumer behavior. Believers with skin-in the game. We invested our own capital and will invest alongside LPs. Relationships with supportive partners committed to financial viability and social impact. Vetted and approved by Global Impact Investment Network.
impact Sectors Facing A Tech-Enabled Paradigm Shift Renewable Energy Over the past two years, $120 billion has been committed towards investment into Africa’s energy sector. By 2040, sub-Saharan Africa will consume as much electricity as India and Latin America combined did in 2010. US government commitments to Africa energy alone exceed $5 billion through 2015. Healthcare Over the next decade, $30 billion in new investment dollars will be deployed by public and private organizations towards meeting Africa’s growing health care demand. Medical tourism by Africans to India, Dubai and Turkey is already a phenomenon. Agribusiness By 2030 sub-Saharan Africa’s $234 billon agriculture market size will exceed $1 trillion, with FDI to increase from $10B to $45B Current Market size: •Africa $234 billon •Ghana $48B •Nigeria $26B
impact Our Investment Process Robust Dealflow Long-standing relationships Robust pipeline via existing partnerships with local attorneys, incubators, angel investors and international organizations. 41 companies were identified by iYa’s team as prospects in the past year Inboard referrals from global network of co-investors, late-stage private equity, alumni from top business schools, including Columbia, LSE, HBS and Wharton. Disciplined Screening Expert Deep Dive Active Management Addressing Pain Points We advise as the idea grows, and consider investing after the business has sustained revenue growth and founders have a data-driven strategy towards product/market fit. We look for defensible business models with technology at the core. Prefer seasoned founders with “skin in the game” via piloting or prototyping. Investment Committee = Consumer We invested in Nigeria’s biggest online grocer, SupermartNG, early because we understood Nigerian consumer behavior and where it was heading. Today, it has achieved 60% quarterly revenue growth. iYa has advised, engaged, or invested in approximately 30 early-stage African or Africa-focused ventures and trained with top African investors. GP has decades of investment experience in African private equity, advisors are operators in emerging markets. Hands-on Technical Assistance Team building: Recruiting staff Operations: enhancing legal, accounting, and technological capacity Perspective: strategy, competitive positioning, defining the target market/product Skill building: building leadership skills by developing metrics together Customer development: identifying and accessing target customers using data analytics Analysis: Measure, understand, and report the performance Network: We work with domain experts to support investee companies 1 2 3 4
in African economic development. Princeton University Team Teeja Boye, CFA, Technical Advisor Asset Allocation Expert and Investment Advisor with nearly a decade of African private equity investing experience with Insparo Asset Management, now at Sands Capital. London School of Economics Sonya Spann, Social Impact Officer Experience in African social impact and philanthropy. College of New Jersey Yohannes Assefa, Esq., Diligence Advisor Two decades of business management experience with extensive Africa experience. Director at Stalwart Management Consulting and professor at George Washington University Shane Heywood, African Consumer Market Expert Management consultant with Bain and Co. before leading Africa Go-to- market Strategy for multinational consumer goods producer. Former Acumen Fund Fellow. London school of Economics, University of Western Ontario Shawn Pelsinger, Esq., Legal Advisor VC expert and General Counsel at Palantir technologies. Sourcing and Diligence Sab Kanaujia, Technical Advisor Strategy and technical advisor. Globally recognized executive and advisor in the digital media and consumer Internet industry. Advisors and Investors Emmanuel K. Nyame, Deal Sourcing/Portfolio Management Officer Founder of Ghana’s StartUp Cup competition and a Kairos Global Fellow. Kwame L. Dougan, Esq., Managing Partner Emerging Fund Manager in Residence at CDVCA (emerging markets social impact FoF). Advised $300MM Africa PE fund’s acquisition, experience leading or advising seed-stage investments into Nigerian, Ghanaian and Ethiopian tech ventures. Advisor @ at Princeton U. London school of Economics, Columbia Law School iYa Ventures ® African innovation / financial returns / social impact Community Development Venture Capital Alliance (CDVCA), Fund Advisor Led by Kerwin Tesdell, Esq., and Chris Reim, CDVCA has two decades of social impact investing experience and created Nigeria’s first angel investing group and its first social impact venture capital fund. Currently a fund of funds for New York States with Goldman Sachs as LP. Betre Gizaw, Esq., Compliance Advisor East Africa Expert, former advisor during development of Ethiopia's Commodities Exchange. Columbia Law School
in private equity, local consumer behavior and seed-stage investing Knowledgeable sourcing and strong deal flow Thorough investment process Resources to efficiently scale portfolio companies Successful track record in advising and investing into tech-enabled innovation and community development Why The Technology, Impact and Opportunity Fund (TIOF), L.P.
impact Technology, Impact and Opportunity Fund (TIOF I) General Partner: iYa Ventures Management Fund size: $20 Million of Limited Partner Interests Minimum capital commitment: $500,000 for institutions; $50,000 for individuals and family foundations Initial closing: Q2, 2016 Term: 10 years General partner’s carried interest: 20% of profits Management fee: 2% per year Portfolio exposure: Maximum of 10% of Fund in one company Projected Exit: Founder buy-back, Sell to later-stage private equity funds and strategic corporate acquirers.
over 50,000 SKUs and no asset, inventory or supply chain risk in $26 billion industry. Sourced during pilot period and invested in seed round. Data-driven approach towards product/market fit. Double digit monthly revenue growth with limited marketing. 11 Direct jobs created within six months Platform that crowdsources the underwriting capital and provides crop insurance coverage to small-hold farmers who pay a reasonable premium. Less than 3% of Africans have coverage. Sourced during seed stage, after pilot. During pilot, consumer uptake exceeded 90% and crowdfunders oversubscribed. Founders selected to participate in world’s world-renowned accelerator. Service that provides users with medical advice and information over the phone for a fee, and enables users to request an ambulance or a home visit by a doctor or nurse. Sourced at series A stage, seeing sustained user and revenue growth Awarded Echoing Green award for social impact innovation Approaching product market fit through focus groups, surveys and deep analysis. Robust data on healthcare consumers in country. World Bank certified international money transfer comparison website, helping Americans find the most affordable, reliable and convenient way to send money home. Sourced at idea stage. Seeing increased user engagement and selected by World bank among few approved transparency sites. Online platform delivers products purchased from any online store in the U.S and delivers it to African consumers within 5-10 days, for fraction of the cost of DHL by connecting passengers willing to carry the goods for a fee. Sourced at the seed stage. 200+ transactions to date, profitably, and founders selected to participate in world-renowned accelerator. Processes solid waste in second-tier West African cities to produce sustainable goods – organic fertilizer, recyclable materials, and renewable energy – to improve public health and increase earning potential for local farmers. Serves over 700 households, processing over 80 tons of waste per month and producing over 16 tons of fertilizer per month. Selected as finalist for Harvard Africa Business Conference business plan competition. And more.
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