How We Decide Which African Startups Make It to a Screening Call

Africa’s startup ecosystem is alive with energy. Markets are opening. Talent is everywhere. And founders are solving real, gritty, high-stakes problems — from logistics and energy to edtech and embedded fintech.

But while capital has grown, the bar for raising it is higher than ever. Not because investors are less interested. But because building in Africa is harder than most outsiders realize — and success demands a different kind of founder.

At Ingressive Capital, we’ve seen hundreds of early-stage deals from across the continent. And over time, we’ve come to recognize a clear pattern: There are specific, predictable, often ruthless filters that determine who gets to a screening call — and who doesn’t.

So instead of gatekeeping, we’re sharing them. These are the non-negotiables.

If you’re raising venture capital in Africa and wondering why no one’s getting back to you — this might be the most useful thing you read all week.

1. ✅ Indigenous Founders Only

If you're building for Africa, at least one founder must be African. Not just a regional GM or local face — but a meaningful equity holder and decision-maker.

Why? Because proximity to chaos matters.

Only someone who’s lived through a 3-day licensing delay in Lagos, faced power cuts mid-pitch in Accra, or watched an entire customer segment disappear overnight due to regulation — truly knows how to operate here.

We welcome diaspora founders, too. But without lived African experience at the top, the risks multiply.

2. 💻 Must Be Tech or Tech-Enabled (And No, a Website Isn’t ‘Tech’)

We back scalable tech companies. That means real tech: software, hardware, platforms, data layers — not manual services with a digital veneer.

What we’re looking for is productized growth at scale.

If your competitive edge doesn’t come from tech — pricing power, defensibility, or automation — it’s not a venture play.

3. 🌍 Pan-African or Africa-to-the-World Ambition

If your company can only work in one city or one customer segment — it’s not VC-backable.

We fund startups with regional or global potential. Whether it’s a multi-country roadmap or exporting African IP globally, scale has to be part of your DNA.

Even Paystack had expansion plans in place before the Stripe deal. We don’t expect you to be in five markets at seed. But we do need to believe that’s where you're headed.

4. 📊 Valuation Has to Make Sense for Stage

We love bold. We don’t love delusion.

A $12M valuation at pre-revenue may fly elsewhere, but not here. Early-stage venture only works if there’s real upside at entry.

It’s better to raise $400K at $3M, show traction, then grow your cap. Raising too high, too early locks you out of your own growth.

5. 🚀 MVP or Nothing

Ideas don’t get funded. A deck isn’t traction.

We need to see something working — even if it’s ugly, no-code, or duct-taped together. Real founders build before they pitch.

No MVP = no venture round. You’re not “too early” — you’re pre-start.

6. 🦍 A $1B+ Market Opportunity

We don’t chase nice businesses. We chase venture-scale outcomes — that means massive TAM, clear growth potential, and a believable path to capturing a slice of it.

You don’t have to fake it — but you do have to show your math.

7. 🧠 Early Traction or an A+ Team

You either have something working, or someone incredible building it.

A few LOIs? Great. $1K in MRR? We’ll listen. No traction? Then your team better be stacked — think Paystack alum, Jumia engineers, or ex-operators from scaleups who’ve been to war before.

8. 🧱 A Real Moat (Not Just First-Mover Advantage)

You’re not early. You’re exposed.

In Africa, if you win, someone will clone you — fast. We need to know what stops them.

Licenses? Proprietary tech? Distribution channels? Network effects? If your answer is “we’ll work harder,” you’re already losing.

🎯 Final Word: It’s Not About Being Perfect — It’s About Being Built for This

These filters aren’t here to exclude great founders. They’re here to help us find them — faster.

Because Africa’s next breakout companies will be messy, brave, creative, and built by operators who understand the terrain better than anyone else.

So if you're solving a real problem, in a real market, with the mindset and resilience to scale through chaos — we want to hear from you.

Let’s build it together.

👉 Apply to Ingressive Capital for funding