Dream Venture Capital (Dream VC) latest training on venture capital for Africans has attracted hundreds of applicants from more than 20 countries, the company says.
“Since opening applications in early March, Dream VC have already had several hundred valid applications already, with applicants from over 20+ different African countries including Nigeria, Kenya, South Africa, Rwanda, Tanzania, Ghana, Zimbabwe, Tunisia, Cameroon, and multiple applicants from countries in Europe, North America and South East Asia,” the company said in a statement.
Education about venture capital industry has historically been absent from curricula at universities, business Schools and wider executive education. Despite this, with a rise in VC funding in Africa, more individuals are thinking how they can join the industry to work for VC funds or invest individually in African startups.
That is why Dream VC, which was launched in 2021, is now actively taking applicants for their 2022 intake. Run by a team of former operators, entrepreneurs and VCs, Dream VC has been growing quickly with their African-markets-focused VC education.
With an aim to “catalyze the next generation of African ecosystem builders” (can link Dream VC page), Dream VC has already had 20+ graduates go on to join top African VC funds, launch syndicates, head up incubators and accelerators and collectively support over 100 plus startups across Africa.
Since March 2022, Dream VC has been engaged in several activities including forging new ecosystem partnerships with GetEquity, GetFundedAfrica and Ghana Tech Lab to drive more stakeholder engagement, and with initiatives including FundTheGap Alliance and Yielding Accomplished African Women to move the needle in VC funding.
Dream VC also went on a Roadshow, speaking at a UK/Nigeria Tech Summit, an Oil & Gas Professionals Conference and with Tech Enthusiasts in partnership with Ecosystem Builders and Enablers in West Africa.
Dream VC also met the media, with over 20 publications covering Dream VC’s activities programs and the opportunities therein. It has also hosted multiple info events, with 3 open-access webinars.
What’s the thinking behind these VC education programs?
“Everyone is talking about investing in the next generation of African startups, but not enough people are talking about empowering the next generation of young African investors” argues Cindy Ai, Co-Founder & Program Director of Dream VC.
The company’s stance, as outlined on their website, suggests that they believe that community is core to the development of a Venture Capital or Angel career on the continent, and this is a centrepiece of the Dream VC programs.
Venture Capital Careers are notoriously hard to get, with less than 10,000 Venture Capital Firms Globally. At the same time, with the rise of startups and new businesses across African markets, the idea of working with multiple startups at once, or investing and participating in the upside, has made the idea of a role within an African-based or African focused VC fund substantially more attractive.
Despite this, there are no direct Venture Capital Institutions or Schools exclusively focused on VC careers in Africa, and limited resources exist for aspiring VCs, whether as individuals or future fund managers, to get started, according to co-founder of Dream VC Mark Kleyner.
“This coupled with the standard practice of recruiting from top global business schools and the existing high hiring costs on the ground mean great candidates are often overlooked” – remarks Mark.
