21. Bridging Africa through venture capital

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Disclaimer : This episode is for informational and entertainment purposes only, no content of the conversation should be considered as investment advice. 

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Today, Ibrahim Sagna welcomes in the valley Acasia Ventures Managing Partner and General Partner, Aly El-Shalakany and Biola Alabi

5 BIG IDEAS DISCUSSED WITH ALY AND BIOLA IN THE VALLEY

1."As an angel investor, you get to make a vision come to life and roll-up your sleeves"

Aly, Biola and I discussed our first cheques as angel investors. Today, we are leading institutional investment platforms but we all began with wanting to financially support the vision of African founders. At the start of our conversation, Aly and Biola revisited their transition from angel to institutional investors : To Biola, being an angel investor was all about being an ally for entrepreneurs at the very beginning of their journeys. Aly explained how he first got exposed to the tech and VC space while practicing corporate law in London. While observing the space, he saw an opportunity in bringing the concept of risk capital to the Egyptian ecosystem.

2."A common thread was how we both viewed investing as a vehicle of positive impact and change"

Aly is a trained corporate lawyer from Egypt. Biola is a media executive and business woman from Nigeria. They excelled at their respective crafts overseas before making the decision to return home to serve their local markets. It is because of the uniqueness of their profiles and their combination that I felt compelled to share their story with you. I must disclose that we are also joining their list of LPs. They are the epitome of fixing the divide between Northern and Sub-Saharan Africa.

3."I'm energized by two-three time founders. There is a virtuous cycle that did not exist when we started."

Prior to launching Acasia Ventures, Aly founded the Cairo Angels Network, one of Africa's first angel investment networks. In our conversation, we explore what was venture capital then and what it has become. Aly believes that our ecosystems are showing signs of maturity, whether through repeat founders or through founders with strong startup experience. Such an evolution in our ecosystem has required a lot of patience from early investors such as Aly and Biola, but their resilience is proof that the continent can bring the sizable returns that have occurred in other geographies.

4."Media and technology are actually cousin industries"

The very fact that we launched the podcast, Silverbacks Valley, alongside the investment platform, Silverbacks Holdings, tells you how much we value the media as an industry and within the investment landscape. Biola is one of the few media entrepreneurs that I know to have made that connection too : in the episode, she explains how people do not seem to grasp how interconnected media and technology are as industries. She even postulates that the media industry's financing model has inspired venture capitalists.

5."People believe that lawyers are focused on the downside"

Aly speaks on the misconception that people have about lawyers turned investors. As a lawyer, Aly focused his career on value creation and M&A transactions which have made him better equipped to work as a fund manager. He recognizes that his career as a lawyer has also given him the discipline to think of controlling downside risks without missing out on opportunities.