#66, Doing venture investment in Africa. How to validate your assumptions. Steve Grin, Managing Partner at Lateral Capital

Building The Future Podcast

Steve Grin is the Managing Partner at Lateral Capital, a firm that invests in early and growth stage opportunities in sub-Saharan Africa. Their Fund backs technology-enabled businesses that profitably solve significant pain points across critical infrastructure verticals: financial services, energy, healthcare, and education. Steven is a seasoned entrepreneur and investment professional with twenty years of experience investing as a principal and fund manager across the globe. He has extensive experience in real estate development, energy, and venture investing. Prior to co-founding Lateral, Steven was a Director in the Office of the President of Guyana where he held responsibility for the implementation of their low-carbon development strategy and the execution of large-scale initiatives in the energy and infrastructure sectors. Steven graduated from the School of International and Public Affairs at Columbia University and has a B.A. in Finance and Philosophy from New York University. In this episode you’ll learn: How he got into the business of venture capital How did he make the transition in his career from real estate investing? According to Steve, “Big ideas hit brick walls fairly quickly”. Find out what he meant What are the market gaps and opportunities in Africa? How did Lateral Capital start? Where were the initial funds sourced from? The importance of SMEs to every economy. What is Lateral Capital’s thesis about? What is the basis for the thesis behind Lateral Capital? What they have learnt and invalidated about investing in Africa? What is the length of time an investor should be expecting returns? Steve has some reservations about the 220 investment model, find out what they are. What is the best way to do venture in Africa? Other ways to get returns on investment without selling it. What kind of LPs do they target and what are the terms of their fund? The growth drivers for your business. Distinction and importance of financial, human and physical capital in a business. And more Selected links from this episode Building The Future Podcast Season 3 is sponsored by Flutterwave Flutterwave drives growth for banks and businesses across Africa through digital payment technology. You can learn more about their activities