Home   >   NEWS & VIEWS   >   News

  • Ivorian startup financing: launch of an investment fund in Abidjan

    Sep 29th, 2017

    Canadian businessman Jean-Marc Larouche, founder of Ivoire Angels, an investment fund, launched on Wednesday in Abidjan the activities of its structure to finance active start-up projects at a ceremony in the Chamber of Industry and Commerce of Côte d'Ivoire.Ivoire Angels operates as "Business angels" (angel investor). It is made up of 25 men and women investors specializing in their fields who evaluate innovative business projects and high commercial potential.

    The main thing is the business project, insisted Mr. Larouche, arguing that the start-up or the entrepreneur should have certain qualities, among others a vision, conviction, integrity, relational intelligence.All sectors are mainly concerned with "products that respond to local problems" and may be of interest to outside companies, he said, adding that the investor "takes 6.5% of the amount invested".

    Ivoire Angels plans to finance active projects of young entrepreneurs in Côte d'Ivoire from 5 to 250 million FCFA.Selected projects are funded through a process. The contractor whose file is selected makes a pitch (presentation) of his project, before meeting the interested members for the validation and negotiation of the investment terms.As for the Business angels, the investor injects his own funds into a project with potential for growth. It takes a financial risk alongside the entrepreneur to develop an idea or an activity.

    The investor brings his expertise, his network of contacts. On the other hand, it acquires a share of the company's capital until disengagement takes place after three to five years, either by an exit from the capital, redemption of shares, sale, merger, acquisition or introduction in stock exchange.