Future Africa investors got return of $3.7m in 2020 – Iyin Aboyeji

According to CEO of Future Africa CEO, Iyinoluwa Aboyeji, the earliest limited partners that invested its first fund when the company raised $1.2 million in capital in 2018, got a return of $3.7 million in 2020.

He made this statement in a letter reviewing the events of the company in 2020. He said a decision was made by the company to “profitably exit some of our legacy positions through secondaries so we could return capital to our earliest limited partners in our first fund and build a war chest that will enable us to invest more deeply in the Future Africa experience. “

Future Africa is a platform connecting mission-driven innovators and investors looking to turn Africa’s most difficult challenges into global business opportunities.

As at December 2020 after 6 months of operationally launching the Future Africa Collective, Future Africa had grown its co-investment community to over 160 members and together deployed over $1m to 14 innovators across Africa.

He also said that the company has made 33 investments totalling $2.1 million to date. Future Africa portfolio companies also raised a total of $63.6  million in follow on funding in 2020.

Iyinoluwa shared the areas of focus for 2021 for the company:

• grow our Future Africa Collective members and co-investors;
• committing to not just finding and funding great innovators much earlier but helping them build the foundations of a great business so they can grow from zero to a hundred million dollar valuation in less than 30 months;
• grow the number of people available to support and mentor early-stage companies;
• commit at least $1m capital to female innovators;
• fund innovators working outside Nigeria as well as innovators solving difficult problems that may not be as popular with investors but are just impactful;
• fund creative innovations in education technology, digital and physical infrastructure and agriculture amongst others; and
• build purposeful and prosperous communities.