![]() ![]() I have also had conversations that indicated some invalid reasons like people thinking that Africa can't have top performers. This is where companies like Deel, Remote, and others come into play when you have such concerns. In my past roles, I'd enjoy working with remote teams after putting the kids to bed with no worry of having an early morning. Focus more on work done than hours active. I have worked with a number of remote companies, and to beat this, the remote culture has to run on the flexibility of working. This is partly true, however, such great headway has been made and these are no longer key issues in most parts. A number of companies may worry that Africa has power challenges or internet challenges that may hinder one's contribution. There are a number of valid reservations for even #RemoteFirst companies when it comes to hiring from Africa.įear of infrastructure issues. What other tips do you have for fundraising in this market? Please share □Īs an African #jobseeker with most of my efforts going into landing a global remote opportunity, I face this kind of #rejection both directly and indirectly. Instead optimize for a partner you'd like to work with for the long run. Be pragmatic about price, which could mean a flat or down round. A false sense of urgency may have worked in 2021, but is a turn off in 2023. Be transparent and straightforward to build trust. Investors will care whether your traction matches how much you've raised to date, not the label. Instead just share the amount you're raising. Don't name your round! A label like "Seed Extension" or "Series A" can unnecessarily opt investors out. Make sure you're spending time with investors who are looking to write checks. ![]() Many VCs have slowed pace or aren't investing. You may need to pitch twice as many VCs as you would have a year or two ago. This growth will help you build credibility with investors. Time your raise for a period where you're confident you can keep showing momentum over 2-3 months. Most importantly on timing, raise into momentum. Fundraising is taking longer, so ideally raise with 9+ months cash in the bank. Preview your raise in late Aug and come to market in Sep, before VCs are backlogged. Founders, here are a few tips for fundraising in this market: Many VCs have told me they expect a flood of companies to try to raise capital in the autumn. ![]()
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