DAIN is a new platform created by Venturelift Africa in collaboration with partners that mobilizes financial capital from angel investors in the U.S. and Africa to invest in startup companies in Africa. DAIN embraces a unique investment thesis to advance Diaspora engagement with Africa.
We believe that access to capital can expand when African Diaspora investors are linked with talented entrepreneurs across the continent.
We also target successful Diaspora entrepreneurs who seek to expand into Africa from the U.S. through African management and co-ownership of new enterprises that facilitate greater shared prosperity, empowerment of women and reciprocal tech and knowledge transfer.
DAIN will also invest in compelling African enterprises with business models suitable for scaling in the U.S. market to catalyze a “Going Global” movement among entrepreneurs.
We focus on the creative, technology, life science/healthcare, climate, and manufacturing and supply chain sectors.
We will expand the model into the UK, EU, Latin America and the Caribbean.
Despite Africa’s macroeconomic and political challenges influenced by global and regional issues, the following factors inform our rationale for this Africa-focused network:
VC funding into Africa was $736 million and grew by 41% YOY with 26 exits in 2024 (AVCA)
Over the last decade, nine tech startups emanating from Africa have achieved a valuation of at least $1 billion
Smartphone connections will reach 1.2 billion by 2030 in Sub-Saharan Africa (GMSA)
77% of Africa’s population is below 35 years old and it will have 40% of the world’s children by 2050 (World Economic Forum)
Sub-Saharan Africa is projected to reach over 4% GDP growth by 2025 (AfDB) and achieve consumer spending of $2.1 trillion by 2025 (McKinsey)
Africa has over 1,000 entrepreneurship support organizations (accelerators, incubators, venture studios and innovation hubs) and vibrant angel investor networks
DAIN members represent a
consortium of investors, business leaders and entrepreneurs in the U.S., comprised of Diaspora and allies of all backgrounds.
Diaspora across the world have played pivotal roles through structured opportunities in the economic development and socioeconomic progress of countries such as China, India and Israel and present a demonstration effect for Africa. Africa’s Diaspora consists of over 200 million with remittance contributions of over $100 billion and nominal purchasing power of nearly $2 trillion.