Dakar Network Angels

The Dakar Network Angels (DNA) is the first regional network of business angels which invests and supports innovative companies with high growth potential (i.e. startups) in French-speaking Africa. DNA members are professionals operating in several sectors and are based in the four corners of the world. These professionals are willing to: invest part of their financial assets, bring in their experience and expertise, share their network and provide sound advice to contribute to the development and success of African startups.

 This network was launched after a thorough analysis and several observations as it related to the entrepreneurial ecosystem in Tech within French-speaking Africa:  

  • Over the last 8 years, Tech in Africa has increasingly attracted funds ($6.2Bn in 2022); Africa is the continent experiencing the strongest growth in the world in terms of fundraising in Tech
  • There is a significant gap and lag between Francophone and Anglophone Africa when it comes to attractiveness to investors
  • The financing gap at the pre-seed and seed stages is a critical obstacle to the development of the ecosystem
  • Business angels typically operates in silos and as individuals, which in turns significantly reduces their breadth and depth of their impact on the ecosystem
  • There is a pool of professionals who are potential business angels but who lack the knowledge and tools to make this type of investment (venture capital). The maturity of the ecosystem does not yet favor the rise of future large-scale tech champions.

All these findings constitute a unique opportunity to be seized by individual investors wishing to participate in the ongoing digital revolution, contribute to the growth of Tech in Francophone Africa and take full advantage of the associated benefits. DNA is a platform that facilitates collaboration between individual investors, entrepreneurs and other ecosystem players around the following objectives:

  • Identify and invest in promising technology startups with the aim of increasing the liquidity available to the best startups
  • Realize added value on investments made

Ultimately, support the development of the African digital ecosystem to make it the new flagship global investment hub in technological startups.