After one year of operation, the Young African Catalysts (YAC) venture ecosystem has progressed from the private pilot stage to public beta testing.
Their technology-enabled ecosystem and venture fund use data and networks to democratise access to the African venture ecosystem.
In doing so, they enable young people in Africa to improve their skills, find work, and explore investment opportunities.
YAC was founded by Luke Morsert, Head of Investments at the Pan-African fund Future Africa, and Karl Nchite, former investor and Impact Lead at Dutch impact fund Goodwell Investments, as a mechanism to encourage collaboration among outstanding young Africans in the entrepreneurial ecosystem. Karl Nchite is the Impact Lead at Goodwell Investments right now. Future Africa’s Head of Investments is Luke Morsert.
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How Young African Catalysts has been operating
In a little more than a year, its invite-only venture capital network grew to include the foremost investors under the age of 35 from the 50 premier venture capital funds throughout Africa. In addition, its members share over 250 startup funding agreements with one another.
As a result of their spectacular rise, the company’s founders have been invited to talk on the topic of African venture capital at business schools all over the world, including Oxford, Harvard, and Columbia, as well as the Global Impact Investing Network. In addition, the two have been instrumental in the funding of over a dozen new businesses in nations ranging from Egypt to Mozambique.
“Given the nascent nature of the venture ecosystem in Africa, established, older stakeholders tend to hold a competitive advantage,” says Luke Mostert, one of the co-founders of the company. “At Young African Catalysts, we are looking to empower first-time operators, first-time founders, and first-time venture capitalists with the infrastructure to ignite their journeys.”
Young African Catalysts’ Exit
Aspiring YAC Fellowships are geared toward young professionals who are wanting to break into venture capital or startup operator responsibilities, respectively. After a pilot period of 15 months, YAC currently aims to disrupt the constrained and exclusive recruiting environment that exists inside the venture ecosystem.
Their initial class will focus on the venture capital industry, and the tailored curriculum will be delivered over the course of eight weeks by alumni of the Young African Catalysts programme. Lectures on topics such as pitch deck analysis, financial modelling, valuations, and founder etiquette will be part of the Aspiring YAC Fellowship.
These lectures will take place every other week. Fellows will, in a manner that is unprecedented, work on real-world investments directly from both the venture scouting wing of YAC and the YAC Venture Fund. This will provide them with the opportunity to get practical experience as they continue on their educational path.
After completion of the training, some Aspiring YAC Fellows will be given the opportunity to participate in a three-month internship with one of our partner venture capital firms, during which time both parties will retain the option to pursue full-time employment.
Karl Nchite, co-founder and CEO of the company said, “YAC provides a first-of-its-kind experience that we believe can benefit emerging talent interested in the African ecosystem. Through our vocational fellowships, aspiring fellows have the opportunity to learn from leading African venture capitalists and work collaboratively with African startup founders currently raising capital.”
“This is unique in the fellowship landscape as it allows aspiring talent to learn directly from the professionals that they aspire to emulate. In essence, we’re building the ‘On Deck’ of Africa, but better, and doing so for Africans and by Africans,” he added.
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About Young African Catalysts Fund I
The Young African Catalysts Fund I is scheduled to begin operations in the second half of the year. It will make use of the community and data that are part of the YAC ecosystem in order to invest between $25,000 and $100,000 in enterprises that promote the creation of employment opportunities and infrastructure for the subsequent generation of Africans. This includes new businesses that focus on the cultivation of talent, the digital economy, and environmentally friendly solutions.
Up until this point, Young African Catalysts, Inc. has relied only on its own resources for funding, while the YAC Fund I is currently open to financial contributions.
Visit their website if you want to learn more about YAC or if you want to apply for the Aspiring YAC VC Fellowship.
