Silicon Valley has deep pockets for African startups – if you’re not African

The Guardian (07/17/2020)
  • 8 of the top 10 African-based startups that raised venture capital in 2019 are led by foreign, non-African founders.
  • Many African founders claim that White founders of African startups benefit from better access to Western funding (relationships) and less investor skepticism.
  • Grant Brooke, a White co-founder of Kenya-based Twiga Foods (connects farmers with markets, raised $67M), believes non-African founders are judged less harshly for past mistakes.
  • However, some admitted that foreigners are more skilled at pitching African business models.