Wimbart Investor Comms Partner Interview – Ventures Platform
Wimbart recently released the second edition of our report “Startup Performance Reporting in Africa: Aligning Startup and Investor Expectations.” Building on the work we started in 2023, this year’s report included Q&As from our illustrious partners and also insights directly from startup founders. With this added perspectives, the report aims to provide valuable guidance for both founders and investors, driving stronger relationships and more effective communication across the African tech ecosystem.
In our partner interview with Damilola Teidi-Ayoola, Head Platform and Networks at Ventures Platform, Damilola explains how African founders often struggle with consistent investor communication, which hampers timely support. She provides insight into how Ventures Platform addresses this and supports founders with a comprehensive approach. Improved investor-startup communication, Damilola notes, can unlock growth by attracting new investors, fostering partnerships, and driving product innovations essential for African startups to compete globally. Please click here to download the full report. Enjoy the read.
What unique hurdles arise when supporting African founders, particularly in communication?
One of the main challenges founders face is maintaining consistent and transparent reporting. Investor relations tasks—sending regular updates, aggregating data, or providing performance reports—can feel cumbersome, creating a communication gap that hampers timely support.
We’ve found that some founders struggle with reporting due to a lack of streamlined internal systems for collecting key metrics or having standardised templates. Some believe reports should only be shared for major milestones, overlooking the primary objective of regular updates: tracking progress, identifying challenges early, and providing strategic guidance.
As investors, it’s our responsibility to communicate the importance of consistent updates; we’ve introduced templates, set clear expectations, and selected metrics tools that minimise friction. By responding promptly to requests, we provide proactive support and ensure we can step in with guidance when necessary.
What role do pan-African VCs play in supporting African founders, and what strategies effectively support their growth?
Given the complexities of building on the continent, valuable support comes from an in-depth, localised market understanding.
At Ventures Platform, we go beyond offering capital by providing systematic, scalable solutions catered to multiple portfolio companies’ needs. We engage founders through a four-pronged approach: Platform, Networks, Resources, and Community.
This includes access to programmatic initiatives, networks, resources, and cross-border expertise necessary to scale across Africa, covering areas like fundraising, regulation, talent, and growth needs.
Our holistic approach underscores our belief that success goes beyond financial backing—it’s about creating catalytic value that drives success.
How do VC firms identify and evaluate early-stage products that solve critical pain points in African sectors, and what criteria are prioritised?
At Ventures Platform, our investment thesis focuses on backing market-creating innovations that solve Africa’s critical challenges by addressing non-consumption in sectors like cleantech, fintech, healthcare, agriculture, and logistics. These innovations transform complicated products into simple, affordable solutions accessible to previously untapped segments. We evaluate startups based on scalability, market potential, and their ability to solve for non-consumption in Africa.
Our approach prioritises early-stage businesses that navigate Africa’s fragmented markets, demonstrate long-term, sustainable growth, and generate outsized economic returns while delivering meaningful impact.
We look for founders with extraordinary ambition, resilience, and complementary teams with deep expertise. Key criteria include a strong understanding of the problem, market fit, and in-depth market knowledge.
What developments could emerge in the African tech space with improved investor-startup communication?
Improved communication between startups and investors can unlock significant growth opportunities in Africa’s tech ecosystem. Investments happen when relevant parties effectively communicate about a deal.
When founders share their progress, it helps attract potential new investors who might otherwise remain unaware. By doing so, investors witness the progress of early innovations, gain a deeper understanding of the company, and eventually provide capital to catalyse growth. Even when an investor initially declines, regular communication can turn that relationship into a fruitful partnership.
Clear communication can lead to innovative features, strategic pivots, mergers and enhanced products. Furthermore, it fosters cross-border collaborations, which can help African startups tackle key challenges and position themselves competitively in the global tech landscape.
