How Africans Can Have a Chance at VC Funding from Serena Williams
Current markets have been acting like yo-yos lately, however with more downswings than upswings, making investing in it less attractive as the discussion quickly turns into how much money is being lost. That said, there's always a good opportunity to invest no matter what the market looks like, and now might be the best time.
Regardless of what the markets look like, it’s always a great time to invest in yourself. And for that reason, this is a callout for entrepreneurs to invest in themselves by shooting their shot to venture capital (VC) firms. And not just any entrepreneurs/startups, but African ones! That's right, Serena Willams herself, who started her VC Serena Ventures in 2014 recently stated during Black Tech Week in Cincinnati that she has an affinity for companies that are located or do business in Africa.
“I’m a big believer in having Black people invest in Africa. That’s really important to me”
In her Inc.com /IncAfrica.com article, Williams also goes on to explain what other attributes she looks for in a company, mainly a promise of growth. That said, pitching VCs isn't always the easiest thing to do, but Serena Ventures make it fairly simple with a contact form directly on their website which you can locate here.
So you have your startup, and you have your contact information, now the question becomes, what do you say? You only get one chance to make a first impression, so you better make it good. Here are 4 tips to keep in mind:
Not a face-to-face pitch
Unlike a pitch done in person where you can wow people with visuals and your personality, reaching out via email is going to look quite different. For starters, you're going to want to keep it to the point. Think of it as an elevator pitch on how your company solves a specific problem. Of course, introduce yourself first.
African Pride
Knowing that Serena Ventures is looking to invest in Africa-focused businesses, this is the time to show off your African pride. Part of a successful pitch is to do your research to make sure you have the type of business the VC investors are looking for.
Know your Numbers
Just like we as individuals don't like to see our investments tank, no VC wants to invest in a sinking ship either. You can't hide your numbers and hope they won't ask, so know your numbers. Preferably ones that show your growth potential.
No Negative-Nancy
Serena Williams herself mentions in the Inc.com article that rejection isn't necessarily a bad thing. So even if your initial pitch isn't successful, don't give up. Your determination to succeed is ultimately what will pave your way as you won't stop until you find a way.
And on that note, go shoot your shot!