One of the alternative sources of funding for Uganda is the Mara Launch fund. For many Ugandans, especially those starting their business with just a concept, this is a good place to start.
Basic information
Aim: Start-ups and early stage companies
Sectoral approach:All
Quantities Provided: UGX 5,000,000 – UGX 10,000,000
Type of financing: risk capital
It means that instead of providing a loan, the fund takes a % of the shares of the company
key criteria
- The model can be replicated throughout Africa;
- Profitable business within 3-5 years (period of exit from the fund);
- strong management
More information
search online for “Mara Launch Fund”
Telephone: +256(0)414 233 700/800
Who is behind the background?
- Ashish J. Thakkar; CEO, Mara Group;
- Alex Rezida, partner at Nangwala, advocates for Rezida & Co.; and
- Peter Mukiza, Managing Partner in Uganda at Quantum Capital.
How is the proccess?
1. Present business plan.The plan must include information consistent with the key criteria for the fund.
2. Introductory meeting. If the fund likes the plan, the investor will meet with the fund team.
3. Due Diligence.This means that the fund “verifies” the information presented in the plan.
4. Condition sheet. Document detailing the basic terms and conditions.
My opinion/advice for success in accessing funds for your business
1.Equipment:Venture capital funds like Mara know that a great team will develop and implement the idea successfully. If you don’t have internal capacity, have a professional accompany you so that your plan includes a strong team.
2. Executive summary. Investors are busy people, so your usually one-page summary should have one goal in mind: “To make them eager to turn the pages.” To do this, make sure your executive summary captures the key aspects of the document, including equipment, quantity required, process, activities to date, and other information that provides a “snapshot” of your concept.
3. Repeatable pattern. The fund is looking for good business ideas that will transform Africa. Can the business model be repeatable not only in Uganda but maybe in Kenya, Rwanda, Tanzania?
4. Understand the background and the people behind it. A central part of a successful business relationship is whether the two parties “connect.” Investors are people and they tend to invest if they like the person behind it.
In July I met Nigel Ball, director of an affiliated entity. He is a very nice and direct professional. Therefore, I can expect the rest of the team to be of this nature.
Otherwise, best of luck.
Disclaimer
Inachee is not an agent of or connected with this entity, it is an independent thought leadership and advisory firm. The information provided is based on our research and experience. While we have taken steps to ensure the accuracy of the information presented here, we cannot guarantee that it will remain accurate.
