😇 Founders Investing in Founders

Pando Africa Fund is a $20M fund to invest in ambitious, audacious pre-seed and seed-stage founders in Africa. The Fund runs with the support of Pando DAO, Africa’s premier founder community, and Pariti, a VC infrastructure and pan-African recruiting network.

Around the world, the best early investors are other founders who have the hands-on experience to identify and guide the next generation of startups. In Africa’s tech ecosystem, this layer of angels is poised to emerge over the next few years–and those founders are in Pando DAO today.

The Fund is focused on the opportunities in the most exciting industries that we believe will drive the large-scale transformation of Africa while delivering outsized returns to LPs. The growing cohort of founders turned angels in Pando DAO provide insight on pipeline deals and guidance for portfolio companies rooted in their experience on the cutting-edge of African tech.

All carried interest from the Pando Africa Fund will be donated to Pando DAO to support our community.

Our mission

• Achieve great returns for our LPs
• Grow the number of iconic African startups
• Improve the success of our portfolio companies via our DAO’s connections & resources
• Increase the number of active angel investors in Africa by giving top-tier founders a community to invest together and learn best practices

How it works

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• 🧑🏾‍🤝‍🧑🏾 What is a DAO?

Table of Contents

🚀 Why now? African Tech is a Rocketship

• The first African unicorn emerged in 2016. Today, there are 9 unicorns on the continent. [Wee Tracker]
• From 55 startups successfully funded in 2015 to 359 in 2020, Africa’s ecosystem is growing at a 46% annual rate – six times faster than the global average. [BCG]
• Demographically, Africa has:
  • a young population of over 1 billion people;
  • a fast-growing GDP around $2k / person per year (similar to China in 2006); and
  • a generation of educated talent that has gone to school and worked overseas in high-growth companies coming back to launch and scale local tech startups.
• Technology startups require less up-front investment than ever before to start and have a larger-than-ever audience that is easier to reach with today’s distribution tools. This trend has impacted every other market in the world and in Africa will also lead to the creation of iconic, impactful companies during the next 10 years.

<aside> 📈 Funding for startups in Africa more than tripled from $1.3B in 2019 to $4.4B in 2021, and passed $4B in just the first 3 quarters of 2022.

Source: The Big Deal

</aside>

🌐 Pariti Predicts Success - $150m Track Record

Two of our managing partners, Yacob and Wossen, are the founders of Pariti, a market-network for founders, investors, and talent in Africa. Since launching in 2019, Pariti has supported 1,400+ startups in Africa. Pariti evaluates companies & their pitches, then uses data to predict their likelihood of fundraising success and deliver actionable insights to founders before they fundraise.

Collectively, Pariti companies:

• Have a total valuation of $1B+
• Have raised $150m+, including 12 who have gone on to participate in YC
• Are on track for $55m+ in 2022 revenue
• Employ over 3,000 people
• 60% of successfully identified raises have come from founders with non-elite backgrounds that are traditionally hard to identify and usually have better return profiles with cheaper entry prices

Pariti’s position in the market as well as its diligence tools & prediction algorithm gives us an unfair advantage in our investment process. Moreover, Pariti’s recruiting platform & network of referrers across the continent will help portfolio companies scale their teams.

Learn more about Pariti below:

$150m predicted & raised - the road to building capital markets in Africa

How Pariti is connecting founders with capital, resources and talent in emerging markets

👋 Management Team & Track Record

Our team has built platforms and funds that have invested billions of dollars and achieved top-tier returns across markets and industries and developed deep local expertise in the African tech ecosystem.

Yacob Berhane

• Co-founder & Chief Executive Officer of Pariti
• Venture Partner, Ingressive Capital
• Strategy and Investment Lead, ALN Ventures
• Former leverage finance investment banker, Truist
• Career focus has been growing African startups & supporting founders. Deep, broad network throughout the continent.

Wossen Ayele

• Co-founder & Chief Operating Officer of Pariti
• Head of Special Projects, Lori Systems
• Private Equity Associate, Simpson Thacher & Bartlett LLP
• Consultant, McKinsey & Co.
• Career focus has been early-stage investment, law, and their applications to emerging markets.

Michael Daugherty

• Head of Venture & Chief Strategy Officer, AngelList ($15B AUM)
• Chief Product Officer at SFR3 ($1.5B in asset value)
• SB, Computer Science, MIT
• Career focus has been building scalable approaches to alternative markets that generate sustainable dealflow, access, and judgment advantages

👩🏾‍💼🧑🏽‍💻👨🏻‍🔬🧑🏾‍🚀 Vertical Expertise via Unmatched Community

Through our partnership with Pando DAO, the premier community of Africa’s most ambitious founders, we can tap on experts across verticals and markets. Our community of founders will help us find the best founders and companies and add value to them post-investment.