Eghosa Omoigui: We have four investment thesis that we’ve talked about internally, but this is the first time we’re sharing them outside. One of them is that there is a recognition that in many submarkets in Africa, almost all economic activities are offline. It continues to be offline. There was a very large opportunity, in
Eghosa Emoigui: I decided that it made sense to look at those emerging markets. I ended up picking Southeast Asia and Sub-Saharan Africa, in part, because they felt very highly-correlated. You had very similar signals in these markets that suggested they would evolve. I went out to those two markets. I had no luck, because
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Eghosa Omoigui was recorded in May 2019. Eghosa Omoigui is Managing Partner at EchoVC Partners, a firm focused on the African market. This is a fascinating discussion about African startups and venture
Vikas Choudhury: Another investment is a cloud kitchen. It’s a company called Inner Chef run by someone I know. That company was riding on the wave of logistics and delivery, which was designed for the e-commerce ecosystem. As you know, food delivery is becoming very large across the world. A lot of marketplaces have come
Vikas Choudhury: Entrepreneurs today are either second-generation or second lifecycle. They come to us after having tried something on their own, so we do believe that they will just look at the funnel that is out there. You have tens of thousands of new companies in India. Less than 1% get angel funding. Less than
Sramana Mitra: It sounds like you are very comfortable with getting into markets that don’t have a lot of traction, which is unusual in India. What drew you into angel investing at that point? Vikas Choudhury: It was actually something that wasn’t really orchestrated. I was running a software analytics company at that point in
Sramana Mitra: Let’s talk about some of the things you’ve invested in. We’ll talk about Pivot Ventures investments in a moment. You said you’re one of the first angel investors in the Indian ecosystem. Talk a little bit about what you invested in 2005. How has that landscape changed? How has your investment evolved through
Sramana Mitra: What are some of the highlights of recent companies that have crossed $5 million in revenues? Cristobal Perdomo: It’s hard to know the revenues unless you’re actually working with them. We’re starting to see more Series C investments that are over $10 million. Sramana Mitra: How many Series C’s have happened in the