Baobab Network

Baobab Network is a prominent Nairobi-based accelerator and fund dedicated to supporting early-stage technology ventures across the African continent. Established with a mission to empower promising startups, the firm provides not only capital but also a comprehensive 10-week accelerator program designed to refine business models, foster growth, and prepare companies for subsequent funding rounds. Their unique value proposition lies in offering bespoke support, leveraging an extensive network of mentors and industry experts, and facilitating access to crucial follow-on investment opportunities.

The network primarily focuses on pre-seed and seed-stage companies, demonstrating a strong commitment to nurturing foundational growth within Africa's burgeoning tech ecosystem. Baobab Network typically invests a standardized initial cheque of $50,000 in exchange for 10% equity, a model that allows them to scale their investment activities across a broad portfolio. This fixed investment strategy enables them to support a high volume of startups, aligning with their ambitious goals for continental impact.

In a significant development in February 2022, Baobab Network successfully raised $6 million in new funding, earmarking the capital to invest in 100 startups over the subsequent two years. This substantial capital injection underscores investor confidence in their model and their capacity to identify and scale high-potential African tech companies. As of late 2023, the firm has already backed over 60 companies operating across more than 15 African countries, showcasing their wide geographical reach and diverse portfolio. Baobab Network continues to play a pivotal role in shaping the future of African tech by providing essential early-stage capital and strategic guidance to a new generation of innovators.