4 episodes
The Rally Cap Podcast Kyane Kassiri
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- Business
Join host Kyane Kassiri of Rally Cap VC in a series of conversations with top VCs and founders in Africa, the Middle East, and emerging markets at large.
This is a humble contribution to the regional podcasting scene, sharing with the world some of the current conversations across the local VC industry.
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RCP #4 Bridging Africa, LatAm & Asia with $800m+ for fintech, with Johan Bosini [Quona Capital]
Johan Bosini is a partner at Quona Capital, a $800 million pan-emerging-markets fintech VC firm.
Timestamps:
(1:58) Quona overview in numbers
(4:05) Imposter syndrome and self-assessment
(5:08) Investing in LatAm vs Africa: different mental models
(8:07) Lose-lose situation: too many VCs backing a model/space
(10:38) Africa & LatAm: similar [but delayed] growth trajectories
(12:49) Do not expand across continents! [for most startups]
(13:49) Fintech 1.0, Fintech 2.0, Fintech 3.0
(17:21) Thesis behind investing in Sava [Brex for Africa]
(19:25) Thesis behind investing in Orda [Toast for Africa]
(21:57) Not enough digital banks???
(23:11) African multi-billion dollar exits: is the dream still alive?
(24:09) Crazy founder story
References:
Yoco - https://techcrunch.com/2021/07/27/south-african-payments-startup-yoco-raises-83m-series-c-led-by-dragoneer/
Sava - https://techcrunch.com/2022/06/30/sava-a-spend-management-platform-for-african-businesses-gets-2m-pre-seed-backing/
Orda - https://techcrunch.com/2022/11/29/orda-raises-millions-to-digitize-african-restaurants-with-its-cloud-based-operating-system/
Listen on all platforms:
Youtube - https://www.youtube.com/@TheRallyCapPodcast
Spotify - https://open.spotify.com/show/3vUDH5yEH6pvRkqM1TVaxS
Apple Podcasts - https://podcasts.apple.com/ca/podcast/the-rally-cap-podcast/id1731710244
Where to find Johan:
LinkedIn: https://www.linkedin.com/in/johanbosini/
Twitter: https://twitter.com/JohanBosini
Where to find Kyane:
Linkedin: https://www.linkedin.com/in/kyanekassiri/
Twitter: https://twitter.com/kyanekassiri
Learn more about Rally Cap: https://techcrunch.com/2022/05/05/ral...
Check out our Climate Newsletter: https://rallycapclimate.medium.com/ -
RCP #3 Rare European VC success in emerging markets, with Enrique Martinez-Hausmann [Speedinvest]
Enrique Martinez-Hausmann is a principal at Speedinvest, a €1 billion European VC firm, with a stellar track record in Africa, the Middle East, and emerging markets at large.
Timestamps:
(1:54) Speedinvest's key success factors in emerging markets
(5:54) Portfolio winners, in numbers
(7:14) Using a different lens for emerging markets vs. Europe
(9:18) Embracing lending models while others shy away from it
(11:18) Funding predatory lenders?
(13:26) Raising debt in emerging markets
(15:26) The inherent risk of VC-backed lending businesses
(17:47) Becoming a 'VC on steroids' by writing LP checks
(18:48) Investing in an M-Pesa challenger
(20:22) Too much VC money destroyed this vertical in Africa
(23:07) Early career mistake?
(24:09) Where to keep looking after 30 investments?
References:
Wayflyer - https://www.prosus.com/news-insights/...
ShopUp - https://techcrunch.com/2021/09/06/com...
Moove - https://techcrunch.com/2023/08/10/moo...
Listen on other platforms:
Apple Podcasts: https://podcasts.apple.com/ca/podcast...
Youtube: https://www.youtube.com/@TheRallyCapPodcast
Where to find Enrique:
LinkedIn: / enrique-martinez-hausmann-463220129
Where to find Kyane:
Linkedin: / kyanekassiri
Twitter: / kyanekassiri
Learn more about Rally Cap: https://techcrunch.com/2022/05/05/ral...
Check out our Climate Newsletter: / rallycapclimate -
RCP #2 Building a profitable $12m ARR company in 30 months, with Omair Ansari [CEO @ Abhi]
Omair Ansari is the co-founder and CEO of Abhi, one of the fastest-growing fintech companies in South Asia and the Middle East.
Timestamps:
(1:36) Quick background on Omair and Abhi
(2:32) Abhi's performance in numbers
(4:12) Dirtiest MVP and figuring out the market need
(6:12) Early Wage Access is a tax on the poor?
(08:19) The moment when numbers went exponential
(11:58) Does SME lending scale?
(13:34) Key factor for a successful market expansion
(15:44) Preferring mercenaries over missionaries
(18:37) From equity to off-balance sheet lending
(19:22) Structuring debt instruments in emerging markets
(21:52) Winning market share in down markets
(23:15) Early mistakes: no more missionaries
(25:07) Bottleneck for growth and Abhi2.0
References:
Figopara - https://www.t-vine.com/turkiyes-risin...
Creditas - https://techcrunch.com/2022/01/25/bra...
LendingTree - https://www.cnbc.com/2014/08/01/lendi...
Listen on other platforms:
Apple: coming soon
Spotify: coming soon
Where to find Omair:
LinkedIn: / omair-ansari-40494329
Where to find Kyane:
Twitter: / kyanekassiri
Linkedin: / kyanekassiri
Learn more about Rally Cap: https://techcrunch.com/2022/05/05/ral...
Check out our Climate Newsletter: / rallycapclimate -
RCP #1 $205m African VC fund, with Lexi Novistke [GP @ Norssken22]
Lexi Novitske is a General Partner at Norssken22, who just launched Africa's second-largest VC fund.
Timestamps:
(1:05) How to raise a $205m fund during a global downturn
(3:50) Current growth stage valuations and how to deal with unreasonable prices
(5:38) Growth deals that require restructuring
(9:44) Debt requirements for growth-stage companies
(11:28) Norrsken's thesis in financial services
(13:27) Thesis behind investing in Shara
(14:18) Overfunded fintech models
(15:53) Thesis behind investing in Sabi
(18:37) Living in Lagos
(20:36) Thinking like a growth stage investor vs. early stage investor
References:
Sabi - https://techcrunch.com/2023/05/19/afr...
Shara - https://www.crunchbase.com/organizati...
Listen on other platforms:
Apple: coming soon
Spotify: coming soon
Where to find Lexi:
Twitter : / anovitske
LinkedIn: / lexi-novitske-cfa-a5054a4
Where to find Kyane:
Twitter: / kyanekassiri
Linkedin: / kyanekassiri
Learn more about Rally Cap: https://techcrunch.com/2022/05/05/ral...
Check out our Climate Newsletter: / rallycapclimate