Having A Co-Founder Can Make a Difference

On #AfricaTheBigDeal today, the focus is on funds raised by startups with more than one founder.

According to data, “80% of start-up deals in Africa are signed by startups with 2cofounders or more…”

Credits: #AfricaTheBigDeal

At Midlothian Angel Network, we’re always skeptical about founders who want to keep the whole thing to themselves and refuse to bring on board someone who complement their skill set as co-founder. A former boss once told me that the first law of VC investing is to never lose your investors’ money!

I recently asked a sole founder what would happen if he dies, and the kept mute for almost 30 seconds because it has never occurred to him that he’s not immortal. Of course, we walked away from the deal.

Guys, having a co-founder and/or a sustainability plan of how things can shake down if you become sick or unavailable is very important to the future of your business/startup.

Note to #founders: if you try to go it alone, you may never return!

Thank God It’s Monday (THIM). 😊 Thanks Maxime & Max for your insightful piece.

👉 Full analysis: https://lnkd.in/diZBK27

👉 Underlying dataset: https://lnkd.in/dfcVkVP

#startups

#founders

#africa

#data

#cofounders

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Wale Salami

Wale Salami

Co-founder/Executive Director at Midlothian Angel Network. Email me at wale@midloangels.org