The Kampala Angel Investment Network (KAIN) has officially launched in Uganda, aiming to bridge the gap in the country between early-stage entrepreneurs and investors.
The creation of KAIN has been spearheaded by entrepreneurship hub The Innovation Village over the last two years, which has succeeded in connecting and working with 2,000 Ugandan entrepreneurs at its Kampala-based hub space.
The new angel investor network officially launched last month (February), bringing together a pool of 10 local investors and two foreign investors interested in the pipeline developed by The Innovation Village.
The launch of KAIN was marked with the first ever angel investor meetup in Kampala, at which members set out plans for the coming year, including quarterly Deal Days, and angel investing masterclasses.
“We are motivated by the number of potential early stage entrepreneurs in Uganda who for lack of funding abandon scalable ventures. At the same time a lot of local capital is tied down in traditional investment vehicles like land, buildings/properties and stock. We see KAIN as a bridge for our most promising entrepreneurs to connect with local investors,” says CK Japheth, co-founder of KAIN.
Japheth says the aim to the new community is to build awareness around the concept of angel investing, with a highlight on the additional value offered by angels, such as mentoring and unlocking of networks.
KAIN also hopes to build the confidence of foreign capital to match local capital.
“Most foreign investors have been excited by the prospect of co-investing with locals, or also see it as a good sign if locals are investing,” Japheth says.
The first KAIN Deal Day is set to take place on April 28, with 50 entrepreneurs to be selected to pitch to investors.
The target is to facilitate 10 deals as a result of each quarterly Deal Day, Japheth says.
Applications are currently open to both entrepreneurs and investors interested in participating at the April Deal Day, with masterclasses to be held for both groups in advance of the event.