By: D E Wasake, Principal, Inachee.com

Basic information

Target:

Late start ups or early to mid stage companies

Sector focus:

SMEs in various sectors with a focus on IT/Telco, Healthcare and Consumer Goods

Amounts provided:

EUR 250,000 to 3,000,000

Funding type

Venture capital

Means, rather than providing a loan, the fund takes a % of shares in the company

Key criteria
  • Potential to be a top player in its field;
  • Profitable in a sizeable/growing market over 5-7 years (exit period for fund);
  • Skilled and committed entrepreneurs backed by strong management
  • comply with ethical norms, have a good environmental policy and labor conditions;
  • Will allow board seat for the fund as well as their involvement in management

Further information

 

 

 

http://www.tblmirrorfund.com/

Tel: +254 (0)20 2019374

info@tblmirrorfund.com

 

 Who is behind the fund?

Private investors, development finance institutes based primarily in Europe. The fund is managed TBL Invest LTD, based in Nairobi and has a representative in Uganda.

What is the process like?

It is not entirely clear from the website but expected to be:

1. Submit business plan. Ensure it meets their key criteria.

2. Introductory meeting(s). If the fund likes the plan, the investor will meet the fund team.

3. Term sheet. Document spelling out the basic terms and conditions.

4. Due diligence. This means the fund “verifies” the information presented in the plan.

Our view/tips for success?

1. Team: Venture capital funds like TBL back late start ups with a track record. Their key indicator is a good team with solid experience. If you have no internal capacity, have a professional join you.

2. Disruptive strategy. They are looking for a business that can quickly become no. 1 or 2 in their field.  It means having a strategy to directly take on existing market leaders. The plan needs to clearly show how this will be achieved.

3. Ethical model. Some of the fund’s key backers are based in the Netherlands and this is the norm. Your plan should reflect these principles.

Otherwise, best of luck.

Disclaimer

Inachee is not an agent or connected to this entity, it is an independent thought leadership and advisory firm. The information provided is based on our research and experience. Whilst we have taken steps to ensure the accuracy of the information presented here, there can be no guarantee that it will remain accurate.