The cofounders of ViKtoria Ventures, Stephen Gugu and Yaron Cohen, spent much of their early careers in roles that involved taking startups through investor-readiness courses, capacity building and building their knowledge of entrepreneurial finance. They then used this experience to branch out on their own and create ViKtoria Ventures with the intent of helping local entrepreneurs access capital. Their aim was to bring more investors into Nairobi, bolstering the city’s business ecosystem and introducing the concept of angel investment to Kenyan entrepreneurs. 

In other countries, angel networks are a well-established business practice, but when ViKtoria Ventures was founded in 2012, they were not common in Nairobi. The country’s burgeoning tech scene and business community make it an ideal location for this model. ViKtoria Ventures is proud to say that it won’t accept any investor who would prioritize profit and portfolio diversity over the support the organization provides to its network. This means that the founders have carefully curated who to accept as a member and that they preferred to use their personal funds for early investments than take on investors who didn’t share their vision.

At the outset, ViKtoria Ventures focused solely on tech startups, aiming to support a generation of Kenyan innovators in that industry. As the organization and its connections have expanded, it has broadened its scope and is now agnostic about which sectors it invests in. The firm has also grown its network of angels to around thirty-five, many of whom are international. One of the advantages of ViKtoria Ventures for startups is the connection between company and investor. Many angels take the time to mentor founders, giving their informed insight and even providing access to their own personal network to encourage the success of the business.

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Main photo by Viktoria Ventures