Soyombo's Voltron Africa invested in one startup every week of 2022. Here is our analysis
Summary
Most of our deal flow is from founders we have backed and other co-investors, says Olumide Soyombo.By September 2022, Voltron closed Fund 1 having invested in 53 startups, a 10% acceptance rate reminiscent of what we see from top business schools. Closely aligned in EdTechs (5%) while being very bullish on Crypto (3.9%) and fintechs (30%).More than 30% of Voltrons portfolio companies (portcos) have been accepted into top global accelerators like YC, and Techstars. Jackfruit finacne is increasing access to low-cost African private schools by providing technology, capital, and reward programs to educators across Sub-Saharan Africa. Theyre building crypto-native products that use non-custodial decentralize finance and social engagement to go beyond trading and investments and drive crypto adoption across Africa. WoodCore: WoodCore is building a composable cloud banking infrastructure that enables financial and non-financial institutions to embed financial services into their existing products and go to market 10X faster with over 250 APIs.In conclusion, venture investing is a high-risk business with the potential to not only mint millionaires but also create social impact in the world.With the likes of Voltron Africa making a huge bet on African startups, one can expect to see more advancements in tech and the standard of living on the continent.Hey Africa-focused investors, we are open to receiving your 2022 fund performance report.