How to Build a $1bn African Investment Firm
In a candid interview, Richard Okello, co‑founder of Johannesburg‑based Sango Capital, explains how his firm grew to manage just under $1 billion in assets since its 2011 launch. He frames African investing as a high‑speed boat ride through choppy waters, emphasizing the need to keep capital intact while navigating volatility. The discussion highlights Sango’s risk‑reframing, the continent’s most promising economies, and the sectors delivering outsized upside. Okello also shares the firm’s marquee investment successes and the operational hurdles they routinely overcome.
The Reserve Strategy Illusion: Why Most Funds Misprice Follow-On Capital
HealthVC’s latest newsletter argues that the common claim of reserving 50% of a fund for follow‑on investments is largely a façade. While the reserve model looks disciplined on paper, real‑world outcomes—driven by power‑law returns and uneven company trajectories—turn the reserve...
Aura Aero Lands Additional €50 Million in Funding
Aura Aero, the developer of a 19‑seat hybrid‑electric regional aircraft, closed a €50 million (≈ $54 million) Series B financing round, bringing its total capital raised to €340 million (≈ $400 million). The round was led by Safran Corporate Ventures and included investors such as the French...
Inside a Live Venture Fund: 12 Startups, $250K+, 6 Weeks to Invest
Neal’s post reveals the inner workings of San Diego Angel Conference Fund VIII, a live venture fund that has raised roughly $250,000 and is evaluating 12 finalist startups. Over the next six weeks the fund will narrow the field to...
IFC Discloses Proposed Investment in Quona Fund IV
The International Finance Corporation (IFC) has disclosed a proposed equity investment of up to $12 million in Quona Fund IV, a venture‑capital vehicle focused on financial‑inclusion startups. Quona Fund IV, managed by Quona Capital Management, will target early‑ and growth‑stage companies in Latin...
Neato Raises $25M to Expand Its 2P E-Commerce Accelerator Model Beyond Amazon Into Additional Marketplaces
Neato, a Las Vegas‑based 2P e‑commerce operator, announced a $25 million growth‑capital round led by Advantage Capital. The funding will finance new fulfillment hubs in Las Vegas and Chicago and accelerate the rollout of its AI‑driven agent stack. Neato plans to move...
Antes Raises $4.6M to Bridge Legal and Engineering Software
AI startup Antes announced a $4.6 million Series A funding round to develop software that links legal and engineering data for manufacturers. The capital, led by XYZ Ventures with participation from ABC Capital, will accelerate the rollout of its AI‑driven...
A $750M Fabless Chip Company, and the Foundry That Makes the Chips
Credo Technology announced a $750 million cash acquisition of Israeli silicon‑photonic fabless startup DustPhotonics, with an earn‑out that could lift total consideration to about $1.3 billion. DustPhotonics’ proprietary L3C (Low‑Loss Laser Coupling) technology remains opaque, as no public loss figures or peer‑reviewed...
Networked Conviction 006
The latest edition of Networked Conviction, an investing journal for paying subscribers, is a curated round‑up of the author’s recent high‑level conversations. Topics span biotech organ‑transplant research, first‑principles manufacturing, AI business‑model tensions, and the premium placed on founder charisma. The...
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Volume 25 [Members Edition]
The latest Volume 25 members edition spotlights a wave of AI‑focused initiatives and market moves. Anthropic and Andreessen Horowitz unveiled joint fellowships to nurture next‑generation talent, while OpenAI announced the shutdown of its Sora video‑generation model. Notion made headlines by purchasing...
5 Patterns From Two Years of NYC VC Interviews
Lynx’s two‑year Inside VC series distilled five repeatable patterns from dozens of New York‑area venture partners. Founders learn that fundraising is a relationship‑driven, long‑game process, not a one‑off pitch, and that each firm sticks rigidly to its investment thesis. Success...
PadSplit Secures ORIX Financing; A Federal Court Upholds America’s Most Controversial Coliving Ban; 4.1 Million Australians Turn to Coliving, and...
PadSplit announced a new debt financing facility from ORIX USA’s Growth Capital, signaling institutional confidence in affordable shared‑housing infrastructure. A federal appeals court upheld Shawnee, Kansas’s ordinance that limits more than three unrelated adults from sharing a dwelling, raising zoning...
Humility and Paranoia
The author argues that the two traits most predictive of founder success are humility and paranoia. Humility forces founders to listen to customers and respect the hidden constraints of legacy industries, while paranoia compels relentless monitoring of competitors and market...
TLG in West African Aviation Deal
Falcon Aerospace, operating as VivaJets, secured a $15 million credit facility backed by TLG Capital, Premium Trust Bank and Access Bank UK. The financing, structured by TLG, will underwrite a new operations hub in Côte d’Ivoire, build local aviation maintenance capabilities,...
Dealflow.es #508: Xoople's €130M "Round". Wallbox Rescue Plan. Inditex VC Activity.
Spanish satellite‑imaging startup Xoople announced a €130 million (≈$140 million) Series B, largely funded by public money and without any revenue or satellites built. Electric‑vehicle charger maker Wallbox secured a court‑approved rescue plan to restructure over €180 million (≈$195 million) of debt, with fresh cash...
