In December 2020, CcHUB launched Syndicate by CcHUB, a new investment vehicle that allows angels, investing groups and institutional investors to invest alongside CcHUB in high growth technology startups in Africa.
The investment vehicle was designed to mobilise a percentage of diaspora remittances to Africa with the objective of unlocking additional local and counterpart funding that deepens the quality of capital available to local entrepreneurs. Furthermore, Syndicate seeks to redirect the non-consumption in the application of diaspora remittance for technology companies in Africa.
The brand journey has been exhilarating with the many highs and lows that frame the venture funding and support ecosystem. From the mission to staying true to the pan-African vision, to keeping an open mind that allows the brand to uphold her mandate of being sector agnostic, the team has challenged itself to deliver on its assignment to help the diaspora, local HNIs and even institutions support amazing founders building technology solutions for the future.
In 2021, Syndicate invested in 11 companies led by remarkable founders in 7 different industries and sectors – like consumer and lifestyle, logistics, health, fintech, data and business intelligence, Agritech and identity management – while 45% of the portfolio companies are female-led, aligning with the brand’s ethos to support gender balance in the companies invested in.
Some of the companies within the Syndicate portfolio include the following:
“All these could not have happened without the growing investor community of more than 700 participants composed of Africans in the Diaspora, Local HNIs, angel investors and institutions who share the same passion as the Syndicate brand to support founders’ building for Africa’s future. Beyond in-house investing work, the team was honoured to work with the Google team to deploy the $3 million from the Black Founders Funds to 50 amazing African founders. The process was an exciting one from selection through post-grant support. Particularly as it aligned with the brand’s ethos,” noted Syndicate by ccHub in its end-year statement.
The team had many other amazing engagements, one of which was supporting the Rwandan Ministry of ICT with a 2-week intensive boot camp focused on equipping 25 select founders with the requisite knowledge to scale their ventures and become investment-ready. The highlight of the engagement was the inaugural Hanga pitch fest where the Top 5 of the 25 founders pitched to high calibre guests. The event was attended by Paul Kagame of Rwanda who presented the Top 5 contestants with their awards.
“The Board played an integral role in Syndicate’s performance this year by providing the team with guidance and support required to execute its mandate. Syndicate by CcHUB is conscious of the fact that there is still more ground to cover in the new year, more startups to support, more investors to inspire, more founders to empower and new ideas and innovation to unearth. The entire team is psyched by the new territories to be covered in the new year!!,” it adds in conclusion.
By Pang Xinxing Africa could realize the target of providing affordable digital television to every household through the adoption of unified technology and business models. Digitization is a complex technologically intensive process that also requires [c]
Bharti Airtel is set to add Congo Brazzaville’s Warid Telecom to its list of affiliates which currently includes operations in 20 countries across Asia and Africa. The firm has announced that it has entered into [c]
The startups were selected by knowledge partner Deloitte from a pool of more than 380 applicants – up 30% from the first edition in 2022. The Fintech category received the highest number of applications (143), followed by Climate Tech (124) and Health Tech (115). Nigeria, Kenya, Egypt, Tunisia, and South Africa have the highest participation rates among the 33 African countries represented. This year, 91% of the applicants have at least one woman on their board. [c]