Alternative funding sources for Uganda: TBL Mirror Fund
Disclaimer
I am not an agent or connected to this entity. The information provided below is independent and based on my research and experience. While I have taken steps to ensure the accuracy of the information presented here, I cannot guarantee that it will continue to be accurate.
Basic information
Target client of the fund: “Late start-up” companies or “early to mid stage” companies.
Sector focus: Small and Medium Enterprises (SMEs) in various sectors with a focus on IT/Telecom, Healthcare, and Consumer Goods.
Quantities provided: €250,000 to €3 million.
Type of financing: risk capital (It means that instead of giving a loan, the fund takes a % of the shares of the target company)
Key Criteria:
- Potential to be a top player in your field;
- Profitable in a sizeable/growing market over 5-7 years (fund exit period);
- Qualified and committed entrepreneurs backed by solid management;
- comply with ethical standards, have a good environmental policy and working conditions;
- It will allow a seat on the board of directors of the fund, as well as its participation in management.
More information:
Search online for fund information or call Tel: +254 (0)20 2019374
Who is behind the background?
Private investors and development finance institutions based primarily in Europe. The fund is managed by TBL Invest LTD, which is based in Nairobi and has a representative in Uganda.
What is the application process like?
1. Submit business plan.Make sure it meets your key criteria;
2. Introductory meeting(s). If the fund likes the plan, the investor will meet with the fund team;
3. Terms sheet. A Document detailing the basic terms and conditions; Y
4. Due Diligence.This means that the fund “verifies” the information presented in the plan.
What are my views/tips to be successful in accessing the capital?
1.Equipment:Venture capital funds like TBL back “late start-ups” with a track record. His key indicator is a good team with solid experience. If you do not have in-house capacity, please have a professional accompany you.
2. Disruptive strategy. They are looking for a business that can quickly become number 1 or 2 in their respective field. It means having a strategy to go head-to-head with existing market leaders. The plan must clearly show how this will be achieved.
3. Ethical model. Some of the fund’s key sponsors are based in the Netherlands and this is the norm. Your plan should reflect these principles.
While I’ve provided the tips above, you should be aware that some basic key information applies to all apps. This includes things like the plan that includes an executive summary, that it is error-free, that it is in an easy-to-read format, and the like.
Otherwise, best of luck.