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Marlon Nichols talks relationship building in the African markets
Marlon Nichols took the stage at AfroTech last week to discuss the importance of building relationships when it comes to entering into a new market. “One
Today, much of MaC Ventures’ investing happens in Nigeria and Kenya, helped in part by the robust network Nichols’ firm has been able to craft. Though funding is down, there is a glimmer of hope: the funding dip was expected as investors retreated, but, at the same time, it was accompanied by investors looking beyond the four major African markets — Kenya, South Africa, Egypt, and Nigeria — and spreading capital in Francophone Africa, which started to see a surge in deal flows that put it on par with the “Big Four.” More early-stage investors have started to pop up in Africa, too, but Nichols said there is a bigger need for later-staged firms that invest from Series A to C, for example, to enter the market.
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