AAA Seeks Investors to Bridge $194B Funding Gap

The African Angel Academy [AAA] has opened applications for its 12th training cohort, aimed at expanding Africa’s pool of early-stage investors.

Africa’s startups face a $194 billion annual funding gap, according to the African Development Bank. AAA is helping close this gap by training more than 770 investors from 26+ countries over the past five years. Alumni have facilitated 216 deals worth $53.6 million, with $7.2 million invested directly by angels trained through the program.

African Angel Academy
Stephen Gugu of ViKtoria Ventures and Fiona Kiruja of the African Angel Academy [AAA] introduce the redesigned AAA Cohort 12 program. The program is curated to equip Africa’s next generation of angel investors with the skills, networks, and confidence to back the continent’s boldest startups. Applications are open until September 10, 2025.

“Angel investing in Africa is no longer a side activity it’s a strategic driver of growth,” said Stephen Gugu, Co-founder of AAA. “The cheque sizes may be small, but they’re often transformative for founders.”

Cohort 12 offers two tracks Mechanics of Angel Investing [17th Sept – 29th Oct, 2025] and Advanced Angel Investing [5th Nov – 10th Dec, 2025] delivered online through self-paced modules, live masterclasses, and peer networking.

“When we started in 2020, our goal was simple: make angel investing accessible,” said Fiona Kiruja, Programme Manager. “This new cohort is more flexible, practical, and tailored to the needs of today’s investors.”

AAA’s trainers include leading African investors such as Alexandra Fraser, David van Dijk, Michelle Matthews, Sewu-Steve Tawia, SG Laubscher, and Gugu.

Applications for Cohort 12 are now open.

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