The Ghana Angel Investor Network (GAIN) under the auspices of the Venture Capital Trust Fund (VCTF) Ghana, has held the maiden edition of its Diaspora Angel Investor Dialogue (DAID) in the United Kingdom (London).
DAID is a collaborative effort between the VCTF, GAIN, the Ghana Investment Promotion Center and the Ghana High Commission in London. DAID is an informative networking event, which is designed to connect Ghanaians in the Diaspora with increasing investment opportunities back in Ghana.
The event was attended by more than 70 participants consisting of investors, entrepreneurs and stakeholders from the Ghanaian business community in London. In his welcome address, Ghana’s High Commissioner to the United Kingdom, Mr. Victor Emmanuel Smith, made mention of the investment opportunities that abound in Ghana with emphasis on the need to promote entrepreneurship as a tool for rapid development.
According to him, “it is an established fact that entrepreneurship holds the key to unlocking potential, driving innovation, solving society’s problems, and spurring economic growth. Thus, the impact of entrepreneurs in elevating the Ghanaian economy to an admirable height cannot be underestimated”.
The CEO of the Venture Capital Trust Fund (VCTF), Mr. Daniel Duku also introduced the participants to the work of VCTF over the years and how it has impacted the investment environment in Ghana.
Following Mr. Duku’s introduction, participants were given an insight into the current investment environment in Ghana by Mr. Percival Ampomah (Head of Investments – VCTF) with emphasis on some of the achievements of VCTF both past and present.
This allowed the participants to gain a better understanding of Ghana’s investment terrain.
Leticia Browne, Investor Relations GAIN talked about GAIN, lessons learnt and their achievements so far.
This was followed by a presentation on the processes and structures GAIN has in place to support both entrepreneurs and investors.
Participants were introduced to some of the startups in GAIN’s investment pipeline. Ghanaian startups like Dropifi and Slicebiz have been featured in various high profile international programmes such as 500 startups in Silicon Valley, Demo-Africa and the Global Startup Battle. This shows the potential in investing in Ghanaian startup.
GAIN continues to push the agenda for early-stage financing in Ghana and the recent request for diaspora participation will go a long way in connecting much needed financial as well as human capital to local entrepreneurs.
With the success of this event, VCTF and GAIN plan to organise similar awareness campaigns in North America to recruit more diaspora angels for the Network.
Angel investors are individuals who invest in businesses in search of higher returns than they would ordinarily achieve with the traditional asset classes they are exposed to. Mostly, Angels are successful entrepreneurs who have the interest in assisting other entrepreneurs start new business ventures and to grow their businesses.
Traditionally, Angels have been the first external source of financing business proposals after Friends, Family and Founders. Usually the Angel investor is the first external investor and the last before a venture capitalist is attracted to the business prospect.
By Times Reporter