African Angel Academy launches 12th cohort to bridge startup funding gap

The African Angel Academy (AAA), a leading training platform for early-stage investors on the continent, has announced the launch of its 12th cohort as Africa continues to grapple with a significant startup financing shortfall.

According to the African Development Bank, early-stage businesses in Africa face an annual funding gap of about $194 billion (Ksh.25 trillion), equivalent to 7% of the continent’s GDP.

Since its establishment in 2020, AAA has trained more than 770 investors from 26 African countries, equipping them with the skills and networks to finance high-potential ventures in sectors such as fintech, agriculture, climate solutions, education, and health technology. Collectively, these investors have facilitated 216 deals worth $53.6 million, including $7.2 million in direct investments from AAA alumni.

The new cohort builds on the momentum of Cohort 11, which attracted over 100 participants from more than 25 countries including Nigeria, Kenya, South Africa, and Egypt. Notably, 60% of those participants were first-time angel investors, while women accounted for 35%—a figure above the global average of 20–30% female representation in angel networks.

“Angel investing in Africa has moved beyond hobby investing; it is now a strategic lever for economic transformation,” said Stephen Gugu, Co-founder of AAA and Director at ViKtoria Ventures. “These investments, often between $1,000 and $50,000, may be small by venture capital standards but can be transformational for early-stage founders.”

Cohort 12 will run in two tracks: Mechanics of Angel Investing (September 17 – October 29, 2025), designed for new investors, and Advanced Angel Investing (November 5 – December 10, 2025), aimed at experienced angels. Both will be delivered fully online through a combination of self-paced modules, live sessions, simulations, and peer engagement.

Programme Manager Fiona Kiruja noted that the academy’s growth has been driven by feedback from its alumni network.

“When we launched AAA, our mission was to bring angel investing out of the shadows. Four years and 11 cohorts later, we’ve refined the programme to make it more dynamic and responsive to the needs of investors across the continent.”

Applications for Cohort 12 are open until September 10, 2025.