[Startup Interview] Heaven Bereket, Co-Founder, BaobabFund, Ghana
At a time when African startups are struggling with access to information on funding and transforming ideas to successful businesses, even as local and international investors express growing appetite for the African startup market, BaobabFund is bridging this information gap by assisting African entrepreneurs harness their business concepts while connecting them to international investors.
Heaven Bereket, a co-founder of the fund talked to African Business Communities about the milestones so far.
Tell us about BaobabFund
We are venture capital firm investing in startups led by entrepreneurs based in Africa. We are about taking active role in changing the inequality in the continent’s economic growth.
We help startups and innovators with fundraising from start to finish; including advising startups when deciding valuation and creating IM, connecting with investors and closing deals. We are a part of ABAN and are on a journey to backing startups.
Where is your company located?
We have one foot in Stockholm, Sweden and another in Accra, Ghana
When was it founded and who are its shareholders?
The company came into being in 2016 and was founded by six people.
How is the company funded?
The company is a collaboration between six people who come together to make a difference and an impact.
What are BaobabFund’s unique selling points?
With one foot in Africa and one in Europe we have the ability to build a business bridge between these two continents and foster trade and relations.
How has the market responded to your services?
Impressively. Right now we have noticed a big interest in European companies who want to have a guideline into the African market.
Who are your clients?
Everyone! We are in a unique position, educated and brought up in Sweden but deeply connected to our African roots. This gives us leverage.
What are the ultimate goals and aspirations of BaobabFund?
We are already international, we hope to find exciting startups and to be one of the first who make a huge impact. We believe the future is in Africa.
What does your company need to grow and prosper?
Right now we need to work harder to get in touch with all applicants. We get thousands of applications and it takes time to go through them all.
What is the latest news from your company?
We plan to be more aggressive and be more proactive at events and network more with likeminded people and companies.
Who should contact your company and why?
You should contact us if you need help to get in to the African market or maybe guideline for your startup. We do it differently, for every dollar, Euro or SEK we earn we give back to the communities and children in Africa. As at today we provide all health cost for 123 children and we want to do more.
Africa Business Communities is conducting a series of interviews with startup businesses in Africa.
Are you a startup in Africa and interested in an interview? Great! Send an e-mail to firstname.lastname@example.org