Where's The Funding?!

S2 Ep. 6: Developing African Capital Markets and Home-grown Asset Managers on the Continent with Umulinga Karangwa

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Umulinga Karangwa is a Rwandese Fund Manager and Investment Advisor with 17 years of experience in financial services with a focus on investments in Africa.  Over the past 13 years, Umulinga has raised and managed funds investing in Africa for different asset classes and is passionate about developing African capital markets and home-grown asset managers on the continent.

Key interview highlights:

  • Umulinga started covering investments from Belgium to London and then the African market where she covered African equities. Her passion gave birth to the setup of a  forum for the same Investment in Africa.
  • All investors take risks, but in different aspects and degrees;
    • Private equities take a calculated risk by investing in companies with a good track record, growing but stable and promising.
    • V.Cs invest in fast-growing companies with strong client attraction at an early stage.
    • Angel investors take higher risk, as Investments are done with fair ticket sizes when founders are still quite unstable and without sizable revenue which is one of the reasons angel investors are crucial and critical for supporting start-ups.
    • It is essential for founders to have a good networking approach and to understand the rudiments of fundraising as well as ways to connect investors, Part of which is getting coached for fundraising, connecting to incubators (most of which have serious investors with specialties backing them) and other entrepreneurs.
    • The likeability of investors is higher when the business idea is scalable, can solve problems, create job opportunities, and have a strong founding team. Founders must be intentional and positive about their pitch. Confident, committed, strong, open to collaboration, and inquiring of feedback from investors. Founders should be resilient enough to go back with a better module when feedback is negative.


      • Social Media: Connect with Umulinga on LinkedIn

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      Michelle J. McKenzie

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