US-based international early-stage start-up accelerator Expert DOJO, said to be the third most active in the country, has put aside US$5-million to invest in early-stage African start-ups this year, with a target of between 20 and 50 new investments.

Expert DOJO said it will dedicate an Africa-only cohort this September 2021 to start-ups targeting the African market, and start-ups can apply for US$100K in funding and participate in a three-month virtual accelerator.

The company’s investment criteria include:

• Pre-Series A, tech-enabled start-ups

• Main operations based in Africa

• Proven and scalable product, beyond the MVP-stage

• Capital-efficient with a clear revenue model

• Validated market demand, with at least ~$5K MRR

Expert DOJO said its Africa investment portfolio includes Akiba Digital, BokDoc, Klasha, KovaDx, Marj3, StarNews Mobile, and ThankUCash.

“One of the first African start-ups we invested in was StarNews Mobile, a brilliant founder named Guy Kamgaing who has twenty-plus years of experience working for African telcos,” says Brian Mac Mahon, Founder & CEO of Expert DOJO.

Since then, StarNews has grown to over 10M mobile subscribers across Africa and raised US$2.4-million in funding to date, joined Snap Inc's Yellow Accelerator, and successfully launched in Cameroon, Congo, Côte d'Ivoire, and South Africa, with plans to expand into Benin, Ghana, Nigeria, Rwanda, and Senegal later this year.

“We were completely blown away, and StarNews inspired us to invest further in Africa,” says Mac Mahon. “One commonality we’ve seen throughout our Africa portfolio is these founders’ focus on growth from day one, with extraordinary resilience, grit, and most importantly, results. We’ve witnessed these start-ups take the tools and resources provided in the DOJO accelerator and scale at super speed, well beyond industry standards.”

Expert DOJO has assembled an entire Africa-dedicated team plus cross-functional experts and EIRs. Victoria Mehran, Venture Partner at Expert DOJO, leads this team.

Using Mehran’s network, relationships, and experience, Expert DOJO says it has brought on the best individuals possible who have deep on-the-ground experience, resources, and track record of operating successful start-ups in Africa, as well as running large multinational corporations across Africa.

Expert DOJO says it provides each start-up with:

• Seed Investment: $100,000 USD for 7% equity

• Virtual Accelerator: Three months of structured, strategic support

• Global Network: Investors and corporate stakeholders to assist with marketing, distribution, and sales

• Ecosystem: Pan-African partnerships and entrenched network of local entrepreneurs and innovators

• Silicon Beach Headquarters: 10,000 square foot tech hub in Santa Monica, California serves as an international bridge for start-ups scaling globally

With a valuation of US$32-million, Expert DOJO aims to close the global inequities in venture capital funding: “We’re investing in founders who represent the diverse society we live in, and not just the privileged Silicon Valley elite,” says Mac Mahon.

“We know that inherent bias exists in the world and we aim to overcome bias by supporting, educating, and really focusing founders on growth. We make growth part of every moment of their lives, every day, throughout our three-month accelerator program and beyond.”