Who Bets First: Understanding Angel Investing, and Why Africa Needs More of It

Hey Everyone,

Here is the thing that stopped me in my tracks this week:

Africa has nine unicorns. The entire continent. 1.4 billion people. 54 countries. Nine companies that have ever crossed a $1 billion valuation.

The United States minted more unicorns last quarter alone.

But here is what the headline number hides: the real gap is not in the companies — it is in who owns them when they exit.

Paystack sold to Stripe for over $200 million. The seed investors who got in at a $7 million valuation made approximately 14x to 20x on their money.

The angels who showed up before anyone else — people like Olumide Soyombo, Kendall Ananyi, Jason Njoku — captured extraordinary returns.

But most of the capital at exit went to American and European institutions.

Not because African investors did anything wrong. Because there were not enough of them in the room early enough.

That is the problem I want to help solve — starting with my own education, in public, over the next 8 months.

This week's full piece covers:

How angel investors, VCs, and private equity each fit into the startup lifecycle — and why order matters
The Paystack, Moniepoint, and Flutterwave case studies with the actual return numbers
Why Africa's VC funding per capita is 300–400x lower than the US
Why this is not just an investing question — it is a wealth distribution question

One question for this community:

If you had $5,000 to deploy as an angel investor in an African startup today — what sector would you back first, and why?

Drop your answer below. No wrong answers. I am genuinely curious where this room's conviction sits.

0 comments

skool.com/long-term-investor-club-8114

LTIC: Master the craft of Angel Investing. 60-month commitment to back AI & tech founders. Learn, diversify, and own the future. Join the elite. 🦅✨

Bring people together around your passion and get paid.