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Founded in 2011, 88mph is a seed fund and accelerator headquartered in Nairobi, with additional offices in Cape Town and Lagos. The organization focuses on investing in early-stage web and mobile startups that target the African market, particularly in Sub-Saharan Africa. Since its inception, 88mph has supported 43 companies, providing not only capital but also mentorship and resources to help entrepreneurs scale their businesses.
88mph has evolved from a traditional accelerator model to a hybrid approach, combining seed funding with an accelerator program that includes three-month cohorts. The firm has raised over $5 million in total, deploying more than $1.5 million across various portfolio companies through its accelerator. Notable milestones include the successful exit of Mdundo, an African music platform that went public on Nasdaq First North in 2020.
88mph primarily targets early-stage web and mobile companies, providing seed funding and mentorship to help entrepreneurs grow their businesses. The firm invests in startups that demonstrate the potential to scale across Sub-Saharan Africa, focusing on sectors such as consumer technology and SaaS. Check sizes typically reach up to $100,000, allowing startups to refine their business models and attract further investment from angel investors and venture capitalists.
The organization emphasizes the importance of supporting entrepreneurs in developing their businesses to a point where they can operate independently. 88mph's investment strategy is designed to enable startups to thrive in the competitive African market, leveraging the accelerator model to prepare them for future funding rounds.
88mph has built a diverse portfolio of 43 companies since its founding. Notable portfolio companies include:
These companies reflect 88mph's commitment to supporting innovative solutions in the African consumer market.
Kresten Buch: Founder of 88mph, Kresten has been instrumental in shaping the firm's investment strategy and focus on early-stage startups in Africa.
Sylvia Brune: Head of DealWeek in Cape Town, Sylvia oversees deal sourcing and evaluation for the firm.
Nikolai Barnwell: Runs 88mph's Nairobi operations, bringing extensive experience in the African startup ecosystem.
Chris Steyn: Board Member, Chris contributes strategic insights and governance to the firm.
Barbara Darchinger: Head of Design, Barbara focuses on enhancing the user experience for portfolio companies.
Hannah Clifford: Compliance & Governance, Hannah ensures that the firm adheres to regulatory standards.
Chika Nwobi: Founder of L5Lab & 440.NG, Chika brings expertise in technology and entrepreneurship.
Wayne Gosling: Partner at Team Africa Ventures, Wayne provides additional investment insights.
Daniel Guasco: Partner at Team Africa Ventures, Daniel collaborates on investment strategies.
Martin Diessner: Founder at Evercape, Martin offers insights into startup growth.
Neil Emerick: Founder & CTO at Nightsbridge, Neil contributes technical expertise.
Hannes van Rensburg: Founder-investor, Hannes brings a wealth of experience in the investment landscape.
To pitch 88mph, founders should visit their website at 88mph.ac. The firm prefers pitches that include a clear business model, market analysis, and growth strategy. While there is no specific application form mentioned, a well-structured pitch deck is essential.
Response times may vary, but founders should expect to wait for feedback after submitting their pitches. Warm introductions are not explicitly required, but they can enhance the chances of a successful pitch.
88mph runs a single program, the 88mph accelerator, which combines seed funding with mentorship for early-stage startups. The program is designed to help entrepreneurs refine their business models and prepare for future funding rounds. Eligibility typically includes startups in the web and mobile sectors targeting the African market.
To apply for the accelerator, interested founders should visit the 88mph website for more information on the application process and program details.
As of 2021, 88mph's last reported investment was in pawaPay, a payments infrastructure startup, which received seed funding in August. Since then, there has been no public activity or announcements regarding new investments or accelerator cohorts.
In 2015, 88mph publicly announced a break from investing in new African startups, shifting its focus to an experimental one-week program model. This pivot marked a significant change in the firm's operational strategy.
What are 88mph's investment criteria?
88mph invests in early-stage web and mobile startups that target the African market. The firm looks for companies with the potential to scale across Sub-Saharan Africa, particularly in the consumer and SaaS sectors.
How can I apply or pitch to 88mph?
Interested founders can submit their pitches through the 88mph website at 88mph.ac. The firm encourages startups to present their business models and growth potential clearly.
What makes 88mph different from other investors?
88mph combines seed funding with an accelerator model, providing not only capital but also mentorship and resources to help startups refine their business models and prepare for future funding rounds.
What is the geographic scope of 88mph's investments?
The firm focuses on startups based in Sub-Saharan Africa, with a particular emphasis on major cities like Nairobi, Cape Town, and Lagos.
What is the typical check size for investments?
88mph typically invests up to $100,000 in each startup, allowing them to gain the necessary resources to grow and attract further investment.
What kind of post-investment involvement does 88mph have?
88mph provides ongoing mentorship and access to a network of investors and industry experts, helping portfolio companies navigate their growth and funding strategies.
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