AVCA Conference

22 - 26 April 2024
Sandton Convention Centre
Johannesburg, South Africa

Formats

VC Summit

Registration 7:00 am - 6:00 pm

9:30 am - 9:35 am

Opening Remarks

Abi Mustapha-Maduakor Chief Executive Officer, AVCA

9:35 am - 9:40 am

Morning Chair Introduction

Roddy McKean Partner, ALN Kenya

9:40 am - 10:10 am

Panel 1: Global Perspectives: The Past, Present and Future of the VC Landscape

Seasoned venture capitalists from around the world convene in this opening panel of the VC Summit to take stock of the latest shifts in the global venture capital landscape. On the back of a five-year low in global startup funding in 2023 according to Crunchbase, “what’s next for the asset class?” is the question on everyone’s mind. In response, this panel reflects on the current state of the industry and hypothesises on its future. Global VC investors discuss the trends, challenges, and opportunities shaping their investment strategies, how these investment theses have changed over time, and their strategies to navigate the future landscape with skill and agility.

Najada Kumbuli Vice President and Head, Investments, Visa Foundation

Vernon Lee Jr. Managing Partner, Lightship Anchor Fund

Shruti Chandrasekhar Head, Private Equity Investments, IFC (moderator)

10:10 am - 10:50 am

Panel 2: Seasons Change: Lessons Learned in Winter and the Path Forward to Spring

Africa’s early-stage investment landscape fell prey to shifting market forces in 2023, including surging inflation, an unfavourable macroeconomic climate, and contractions in startup funding within the global venture market. Amidst uncertainty over the depth and longevity of this ‘funding winter’, this panel explores how investors and entrepreneurs can embrace change, build resilience, and usher the industry into spring. Which sectors and regions are anticipated to deliver growth in the new season? How can investors tap into these emerging opportunities to not just survive the winter, but thrive in spring? What new avenues for investment and capital channels can we expect in Africa in the new season? Drawing on lessons learned and adaptive strategies employed during periods of reduced funding and economic uncertainty, panellists will discuss how they are positioning themselves for long-term future success amidst the peaks and troughs of investor sentiment and startup funding.

Khaled Ben Jilani Senior Partner, AfricInvest

Steve Beck Co-Founder and Managing Partner, Novastar Ventures

Christine Namara Partner, Flat6Labs, Africa Seed Fund

Mareme Dieng Lead, Africa, 500 Global

Bayo Odubeko Partner, Norton Rose Fulbright (moderator)

10:50 am - 11:05 am

AVCA Data Presentation

Paulette Mbeya Research & Advocacy Associate, AVCA

11:05 am - 11:35 am

Network Network Network!!!

11:35 am - 12:15 pm

Panel 3: “The Real Deal” – Venture Capital in the Real Economy

Africa's entrepreneurial spirit is vast and not limited to financial services s. Beyond the screens, real-sector startups are innovating in Agriculture, Manufacturing, Healthcare, and Infrastructure, tackling tangible challenges like food security, affordable housing, and renewable energy. Honing in on the production of tangible goods and services, this panel showcases the breadth of VC investment opportunities the real economy has to offer and how entrepreneurs across Africa are innovating to address tangible challenges. The instrumental role of venture capital in powering these ventures will be addressed, and its catalytic role in driving growth, innovation, and sustainability within the real sector of African economies.

Ashim Egunjobi Managing Partner, Octerra Capital

Jenni Chamberlain Founder and Chief Executive Officer, Altree Capital

Brishan Rowjee Equity Investments Lead, Grand Challenges Canada

Zee de Gersigny Investment Head, Venture and Early-Stage Financing Vehicles, FSD Africa (moderator)

12:15 pm - 12:55 pm

Panel 4: The DeepTech Potential in African Tech

At the frontiers of African innovation, this panel explores how DeepTech is poised to reshape the continent's tech landscape. Looking beyond headlines and buzzwords, panellists will discuss how emerging technologies - from AI and Robotics to Genomics and Quantum Computing - are addressing some of Africa’s most pressing challenges. DeepTech’s potential to drive innovation and provide sustainable and scalable solutions across traditional sectors will be discussed, alongside the challenges (the need for robust infrastructure, skilled talent, and supportive policies) in nurturing a DeepTech ecosystem in Africa. What is Africa’s unique value proposition to global technology markets, and how can African DeepTech ventures attract more global investment? This session aims to not only highlight the potential of DeepTech in Africa, but also identify concrete steps to integrate these advanced technologies into the continent's broader tech ecosystem.

Nick Allen Managing Partner, Savant

Andre Jr. Ayotte Partner, Modus Capital

Lavina Ramkissoon-Rao Partner, Aves Lair

Mike Mompi Managing Partner, Enza Capital

Mark Kleyner Co-Founder and Programs Director, Dream VC (moderator)

12:55 pm - 1:25 pm

Panel 5: Catwalks, Canvases, & Choruses: Sector Spotlight on the Creative Industry

This panel celebrates the fusion of artistry and entrepreneurship, going beyond the conventional to examine how creative industries such as fashion, film, music, design and sport can be sources of growth, job creation, and commercial return for private investors. It shines a spotlight on creative ventures in Africa: establishing both the business and cultural case for creative capital while magnifying the innovators and changemakers advancing creativity and culture across the continent.

Idris Bello Founding Partner, LoftyInc Capital

Pepsi Pokane Co-Founder and Executive Producer, Stained Glass TV

Wakiuru Njuguna Managing Partner, HEVA Fund

Jessica Motaung Commercial and Marketing Director, Kaizer Chiefs

Ibrahim Sagna Executive Chairman, Silverbacks Holdings (moderator)

1:25 pm - 2:10 pm

Networking Lunch

2:10 pm - 2:15 pm

Afternoon Chair Introduction

Paola Ravacchioli Coach and Consultant, P.O.E

2:10 pm - 2:15 pm

Afternoon Chair Introduction

David van Dijk Team Leader, Boost Africa TA, EIB

2:15 pm - 2:45 pm

Stream 1(a): Green Ventures: VC for Climate

No longer a distant predicted future, climate change is now an imminent and alarming reality. Africa is home to some of the most innovative ecosystems and resources aimed at building climate resilience, and venture capital has a key role to play in the development of these solutions. Accordingly, this panel explores the intersection of venture capital and climate innovation, including: the current landscape of climate-focused technologies and businesses in Africa, the breadth of investors supporting them; and which sectors are leading the charge in terms of opportunity.

Wairimu Karanja Partner, Persistent

Magdi M. Amin Managing Partner, African Renaissance Partners

Audrey Verhaeghe Founding Partner, Anza Capital

Rosanne Whalley Chief Executive Officer, AHL Ventures Partners

Natascha Korvinius Principal Venture Capital, Proparco (moderator)

2:15 pm - 2:45 pm

Stream 1(b): Debt Dynamics: Unlocking Liquidity with Venture Debt in Africa

Venture debt has emerged from the periphery to become a key component of the African investment ecosystem, as startups look to access non-dilutive working capital and maintain growth through the present macroeconomic downturn. At the same time, more bespoke venture debt funds are coming to market to help African founders unlock liquidity. This panel explores the role of venture debt and mezzanine financing as a complement to equity; how and when African investors should deploy this tool; and how to raise awareness of these alternative financing products to entrepreneurs or companies unfamiliar with these investment strategies.

Sebigilwe Ooke Principal, Investments, Sango Capital

Chris Wehbe Chief Executive Officer, Lendable

Nick Jones Head, Financial Partnerships, Shell Foundation

Nimalan Reddy Senior Vice President, Standard Bank

David van Dijk Team Leader, Boost Africa TA, EIB (moderator)

2:45 pm - 3:15 pm

Stream 2(a): Founders First: Building a Platform for Success in African VC

In this session, Founders come First. Bringing together seasoned founders, investors, and ecosystem builders, this panel discusses the essential elements of a robust support system for entrepreneurs across the continent. How and where to apply the 3C’s – Capital, Community (Networks) and Collaboration – will be evaluated to provide a roadmap for both aspiring and seasoned founders. Panellists will share insight and best practice on how founders can avoid common pitfalls, navigate operational challenges, and scale their businesses, highlighting the pivotal role venture capital can play in nurturing the next generation of African businesses.

Ibrahim Ramadan Partner, Sawari Ventures

Kola Aina Managing Partner, Ventures Platform

Melvyn Lubega Partner, Breega

Bongani Sithole Chief Executive Officer, Founders Factory Africa

Nonnie Wanjihia Burbidge Investment Principal, Zephyr Management (moderator)

2:45 pm - 3:15 pm

Stream 2(b): From Cash to Clicks: Embedded Finance in Africa

The global appetite for frictionless financial services is on the rise, with consumer demands for convenience and accessibility altering traditional access and distribution models for financial services. Embedded finance is taking centre stage in this metamorphosis of the financial industry. PwC predict a five-fold growth in the global market for embedded finance applications, which is expected to reach close to US$250 billion by 2032. This panel explores the integration and application of embedded finance in the African context, and how venture capital is enabling its use across a myriad of cases including food delivery, travel booking, ride-hailing, supply chain management, and HR management.

Mikael Hajjar General Partner, P1 Ventures

Dolapo Agbaje Director, Apis Partners

Maelis Carraro Managing Partner, Catalyst Fund

Bruce Nsereko-Lule General Partner, Seedstars Africa Ventures

Victor Wambua Regional Lead, Access to Finance, Mastercard Foundation (moderator)

2:15 pm - 2:45 pm

Stream 1(a): Green Ventures: VC for Climate

No longer a distant predicted future, climate change is now an imminent and alarming reality. Africa is home to some of the most innovative ecosystems and resources aimed at building climate resilience, and venture capital has a key role to play in the development of these solutions. Accordingly, this panel explores the intersection of venture capital and climate innovation, including: the current landscape of climate-focused technologies and businesses in Africa, the breadth of investors supporting them; and which sectors are leading the charge in terms of opportunity.

Wairimu Karanja Partner, Persistent

Magdi M. Amin Managing Partner, African Renaissance Partners

Audrey Verhaeghe Founding Partner, Anza Capital

Rosanne Whalley Chief Executive Officer, AHL Ventures Partners

Natascha Korvinius Principal Venture Capital, Proparco (moderator)

2:15 pm - 2:45 pm

Stream 1(b): Debt Dynamics: Unlocking Liquidity with Venture Debt in Africa

Venture debt has emerged from the periphery to become a key component of the African investment ecosystem, as startups look to access non-dilutive working capital and maintain growth through the present macroeconomic downturn. At the same time, more bespoke venture debt funds are coming to market to help African founders unlock liquidity. This panel explores the role of venture debt and mezzanine financing as a complement to equity; how and when African investors should deploy this tool; and how to raise awareness of these alternative financing products to entrepreneurs or companies unfamiliar with these investment strategies.

Sebigilwe Ooke Principal, Investments, Sango Capital

Chris Wehbe Chief Executive Officer, Lendable

Nick Jones Head, Financial Partnerships, Shell Foundation

Nimalan Reddy Senior Vice President, Standard Bank

David van Dijk Team Leader, Boost Africa TA, EIB (moderator)

2:45 pm - 3:15 pm

Stream 2(a): Founders First: Building a Platform for Success in African VC

In this session, Founders come First. Bringing together seasoned founders, investors, and ecosystem builders, this panel discusses the essential elements of a robust support system for entrepreneurs across the continent. How and where to apply the 3C’s – Capital, Community (Networks) and Collaboration – will be evaluated to provide a roadmap for both aspiring and seasoned founders. Panellists will share insight and best practice on how founders can avoid common pitfalls, navigate operational challenges, and scale their businesses, highlighting the pivotal role venture capital can play in nurturing the next generation of African businesses.

Ibrahim Ramadan Partner, Sawari Ventures

Kola Aina Managing Partner, Ventures Platform

Melvyn Lubega Partner, Breega

Bongani Sithole Chief Executive Officer, Founders Factory Africa

Nonnie Wanjihia Burbidge Investment Principal, Zephyr Management (moderator)

2:45 pm - 3:15 pm

Stream 2(b): From Cash to Clicks: Embedded Finance in Africa

The global appetite for frictionless financial services is on the rise, with consumer demands for convenience and accessibility altering traditional access and distribution models for financial services. Embedded finance is taking centre stage in this metamorphosis of the financial industry. PwC predict a five-fold growth in the global market for embedded finance applications, which is expected to reach close to US$250 billion by 2032. This panel explores the integration and application of embedded finance in the African context, and how venture capital is enabling its use across a myriad of cases including food delivery, travel booking, ride-hailing, supply chain management, and HR management.

Mikael Hajjar General Partner, P1 Ventures

Dolapo Agbaje Director, Apis Partners

Maelis Carraro Managing Partner, Catalyst Fund

Bruce Nsereko-Lule General Partner, Seedstars Africa Ventures

Victor Wambua Regional Lead, Access to Finance, Mastercard Foundation (moderator)

3:15 pm - 3:35 pm

Networking Network Network!!!

3:35 pm - 4:15 pm

Panel 6: Impact Unleashed: The Convergence of Venture Capital and Social Change in Africa Industry

Venture capital can be a significant force for good, supporting businesses to not only grow and scale, but also create meaningful societal impact. However, addressing Africa’s sustainable development priorities requires more than investors adopting a sustainable lens in their capital allocation – founders must also deliver innovative, effective, and sustainable solutions to pressing social and environmental challenges. This panel looks at the founders, venture capitalists and philanthropic players advancing sustainable development on the ground and how African social entrepreneurs are creating a new wave of for-profit but sustainable enterprises.

Romi Bhatia Senior Finance and Investment Advisor, USAID, Prosper Africa

Matthieu Ducorroy Head, Private Equity Unit, European Investment Bank (EIB)

Koni Rashamuse Chief Director, Innovation Priorities and Instruments, Department of Science and Innovation

Wim van der Beek Managing Partner, Goodwell Investments

Ola Brown General Partner and Founder, HealthCap Africa

Adekunle Soyibo Partner, Jackson Etti & Edu (moderator)

4:15 pm - 4:55 pm

Panel 7: Crafting a Playbook for Successful Exits in African VC

Venture capitalists have placed big bets on African entrepreneurs in recent years, channelling close to US$17 billion to the continent between 2019 and 2023, according to data from AVCA. As the fund lifecycle of some early African VC fund managers concludes, this panel offers an opportunity to understand how these investments have matured and the strategies employed to navigate the exit landscape. It celebrates the success stories of seasoned investors who have already navigated successful exits in Africa, how they maximised returns and lessons learned during their investment journey. The conversation aims to provide a constructive view on timing, strategies, and best practices for achieving successful exits in Africa’s budding venture capital industry.

Samuel Mokorosi Head, Deals and Origination, Johannesburg Stock Exchange

Lelemba Phiri Co-Founder and Partner, ATG Samata

Maurizio Caio Founder and Managing Partner, TLcom Capital

Dan Marlo General Partner, 4DX Ventures

Elena Haba Lead, 2X Global (moderator)

4:55 pm - 5:00 pm

Closing Remarks

Apply for a complimentary qualified FREE LP* pass

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*The AVCA Conference is complimentary for qualified Limited Partners (LPs), classified as non-retail investors in private equity funds, limited to 3 complimentary passes per organisation. This includes full-time employees of development finance institutions (DFIs), endowments, single-family offices, insurance companies, public and private pension funds, and sovereign wealth funds.