2018 Venture Finance in Africa research: Investor survey

Dear investor,

The VC4A Research Team invites you, in partnership with the Mastercard Foundation and outreach partners ABAN and EAVCA, to participate in the annual benchmark study on Venture Finance in Africa.

Reliable data on performance of early-stage, high growth ventures in Africa is scarce. Our ambition is to change the world’s perception of business in Africa by unlocking quality information, and seek to better support the investor community with reliable insights into the market.

The study focuses on both investors as well as entrepreneurs. Job creation, performance, funding and ecosystem are the main indicators that are investigated. The data will be compared across sectors, countries, stages of growth, among other categories.

This survey is for investors only and should take 5 minutes. You can be assured that we will treat the responses anonymously. We will keep you updated about the results through our media channels. If you would like to receive a copy of the full report, or if any questions remain, please email us: ben@vc4a.com.

As always, your participation is most appreciated.

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* 1. What is your gender?

Female

Male

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* 2. What is your age?

Under 25

25 - 34 years

35 - 44 years

45 - 54 years

55 - 64 years

65+ years

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* 3. Which country do you consider your headquarters?

Country:

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* 4. Have you invested in companies in Africa?

Yes

If 'yes' in which countries?

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* 5. If so, how many years have you been investing in Africa?

No experience

1 - 5 years

6 - 10 years

11 - 15 years

15 - 25 years

25+ years

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* 6. What are your main reasons for investing in African companies?

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* 7. Please indicate which type of investor you are

Angel investor

Government Institution/Program

Venture Capital Fund

Social Impact Fund

Private Equity

SME lender

NGO

Other

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* 8. In case you are an angel investor, are you a member of an angel network?

Yes (which network?)

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* 9. Which sector(s) have you invested in and/or which sectors would you consider? (you can select multiple)

Agriculture

Information, Communication & Technology

Sanitation & Waste Management

Real Estate

Healthcare

Education

Transportation

Wholesale & Retail

Finance & Banking

Other (please specify)

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* 10. How many investments have you made in African companies?

0 investments

1 - 5 investments

6 - 10 investments

> 10 investments

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* 11. What is your average investment size?

Less than USD 25K

USD 25K to USD 99K

USD 100K to USD 499K

USD 500K and more

What is the total amount you have invested to date (in USD)?

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* 12. What is your preferred form of investment? (1 is most preferred and 4 is less preferred, you can't use the same number twice)

Equity

Debt

Hybrid

Case by case

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* 13. Please rank the following venture characteristics when investing? 1 is most important and 8 is least important.

Quality of the management team

Gender entrepreneur

Prior entrepreneurial experience

Affinity with the sector

Market size

Social impact

Exit opportunities

Financial performance

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* 14. How do the following country factors influence your investments?

	Very important	Important	Moderately important	Little importance	No importance
Personal affinity	Personal affinity Very important	Personal affinity Important	Personal affinity Moderately important	Personal affinity Little importance	Personal affinity No importance
Laws for investment protection	Laws for investment protection Very important	Laws for investment protection Important	Laws for investment protection Moderately important	Laws for investment protection Little importance	Laws for investment protection No importance
Political stability	Political stability Very important	Political stability Important	Political stability Moderately important	Political stability Little importance	Political stability No importance
Economic growth	Economic growth Very important	Economic growth Important	Economic growth Moderately important	Economic growth Little importance	Economic growth No importance
Taxation policy	Taxation policy Very important	Taxation policy Important	Taxation policy Moderately important	Taxation policy Little importance	Taxation policy No importance

Other (please specify)

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* 15. Have you exited one or more of your investments?

Yes, more than 5 times

Yes, 1 - 5 times

The questions below are not required but will be of great help to improve our services to you as investor.

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* 16. Are you familiar with the VC4Africa 'Pro Account' Investor service?

Yes - I am a paying Pro Account user

Yes - I am familiar with the service, but don't use it

No - I am not familiar with the Pro Account investor service

If you know it, what do you think about the service?

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* 17. Please indicate which of the following services create value for you

	Very important	Important	Moderately important	Little importance	No importance
Personal introductions to entrepreneurs	Personal introductions to entrepreneurs Very important	Personal introductions to entrepreneurs Important	Personal introductions to entrepreneurs Moderately important	Personal introductions to entrepreneurs Little importance	Personal introductions to entrepreneurs No importance
Dedicated technical assistance	Dedicated technical assistance Very important	Dedicated technical assistance Important	Dedicated technical assistance Moderately important	Dedicated technical assistance Little importance	Dedicated technical assistance No importance
Structured reporting post deal	Structured reporting post deal Very important	Structured reporting post deal Important	Structured reporting post deal Moderately important	Structured reporting post deal Little importance	Structured reporting post deal No importance
Access to first loss guarantee	Access to first loss guarantee Very important	Access to first loss guarantee Important	Access to first loss guarantee Moderately important	Access to first loss guarantee Little importance	Access to first loss guarantee No importance
Templates for due diligence, term sheets, etc.	Templates for due diligence, term sheets, etc. Very important	Templates for due diligence, term sheets, etc. Important	Templates for due diligence, term sheets, etc. Moderately important	Templates for due diligence, term sheets, etc. Little importance	Templates for due diligence, term sheets, etc. No importance
Co-Investing support	Co-Investing support Very important	Co-Investing support Important	Co-Investing support Moderately important	Co-Investing support Little importance	Co-Investing support No importance
Standardized financial statements	Standardized financial statements Very important	Standardized financial statements Important	Standardized financial statements Moderately important	Standardized financial statements Little importance	Standardized financial statements No importance
Due Diligence support	Due Diligence support Very important	Due Diligence support Important	Due Diligence support Moderately important	Due Diligence support Little importance	Due Diligence support No importance
Dedicated investor networking events	Dedicated investor networking events Very important	Dedicated investor networking events Important	Dedicated investor networking events Moderately important	Dedicated investor networking events Little importance	Dedicated investor networking events No importance
1-page investment summaries	1-page investment summaries Very important	1-page investment summaries Important	1-page investment summaries Moderately important	1-page investment summaries Little importance	1-page investment summaries No importance
Screened deal flow + Results screening	Screened deal flow + Results screening Very important	Screened deal flow + Results screening Important	Screened deal flow + Results screening Moderately important	Screened deal flow + Results screening Little importance	Screened deal flow + Results screening No importance

Other (please specify)

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* 18. How can we improve VC4Africa and make your life easier?

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* 19. Leave your contacts details below in case you want to receive free access to the Venture Finance in Africa results (worth USD 79.99):

Email Address