Episode 02 of The Investor Series is live. Riccardo Termini sits down with Luni Libës of Africa Eats, a publicly listed investment company backing businesses that build out Africa's food and agriculture supply chain.
Not a fund
Africa Eats takes minority stakes and holds them, in a model Luni describes as taking lessons from Berkshire Hathaway. It is usually the first investor, writes small first cheques and keeps following on as companies grow. Luni puts total portfolio revenue at around $600,000 a decade ago and $56 million last year, across about two dozen companies.
What makes him pass
Two things above all: no profits, or slow growth. Africa Eats only backs profitable companies growing 50% to 100% a year, and it does not invest in app or AI led businesses. As he put it, "The world is investing in AI. We invested in frozen peas."
Diligence by doing
Rather than a year of questions, companies go through an accelerator, complete homework such as a financial model, a pitch deck and a site visit video, and then receive a small first cheque. "There is no better due diligence than that."
Watch the full conversation and read the key takeaways on the Episode 02 page.
About Malahide Partners. Malahide Partners is a capital advisory firm serving technology companies exclusively, headquartered at 124 City Road, London. The firm advises founders, boards and sponsors on equity and debt raises between $1M and $100M and on M&A, working with family offices, funds and institutional investors across Europe, the GCC and North America. Malahide Partners represents the company and runs the process end to end; it is not an investor or a fund manager.
Media enquiries. enquiries@malahidepartners.com
Sources. The Investor Series, Episode 02, Luni Libës, Africa Eats.
