Baobab Network Acquires Marketing Company to Enhance Startup Support
Apr 11, 2024
Enrich Africa
2 minute(s) Read
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Baobab Network, an early-stage investor known for nurturing startups across Africa, has acquired Reflector Marketing, a South African strategy and branding agency.


Since its inception in 2019, Baobab Network has been pivotal in capacity building and has increased its investment offer to $50,000 per startup, supporting a portfolio of 50 startups.


Reflector Marketing, established in 2022 by Klyne Maharaj, has carved out a niche in providing targeted strategic marketing, branding, and digital services specifically designed for startups.


This acquisition, according to Toby Hanington, co-founder of Baobab, embodies the firm's ambitious strategy and commitment to enhancing its support across the African continent.


“Baobab aims to be the premier early-stage investor in Africa. Part of our strategy includes creating additional value for founders beyond just financial investment. Having collaborated with Reflector since early 2023, their acquisition underscores the quality of their contributions to our portfolio companies. Integrating Klyne and his team will accelerate our long-term growth objectives,”

explained Hanington.


READ ALSO - Pan-African Investors Support Zeepay in New Funding Round


With the acquisition, Maharaj will become the director of the accelerator program at Baobab. This move will integrate substantial in-house support to aid Baobab's portfolio companies in their growth and investment pursuits.


Maharaj expressed enthusiasm for the merger, highlighting the potential for enhanced startup support.


“Our mission at Reflector has been to help top-tier startups perfect their market positioning and secure funding. Joining forces with Baobab, which has already made significant strides in Africa’s venture scene, allows us to dedicate our full expertise to supporting African entrepreneurs. Together, we aim to establish the strongest capabilities team of any early-stage investor in the region,”

he said.

Apr 11, 2024
Enrich Africa
2 minute(s) Read
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Reflector
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