#34: Dazzle Angels on Investing in Zebras instead of Unicorns

In this episode of The Idealists. (formerly Grit & Grace), host and entrepreneur Melissa Kiguwa interviews Charlotte Luzuka and Lee Zuks, two of the four co-founders of Dazzle Angels, South Africa's first female-focused angel fund. They chose their name because a group of Zebras is called a Dazzle and after you hear how they describe the potential of African entrepreneurs, you'll understand why they root for Zebras instead of Silicon Valley Unicorns. In this episode, Charlie and Lee share how, from the ground up, they are building South Africa's women's angel investment ecosystem. 

*Note: The article mentioned in the podcast refers to wives in Botswana being given the right to own property alongside their husbands (https://www.reuters.com/article/us-botswana-women-landrights-trfn/botswana-opts-to-make-land-owners-of-wives-with-new-law-idUSKBN2682XF) 

Also, African solo women founders have raised 0.3% of funds raised on the continent. All-female founding teams 0.4%. This excludes mixed teams with female co-founders (https://thebigdeal.substack.com/p/of-men-and-men)

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In the episode: 

– Lee begins the episode by describing the South African investment ecosystem and why her and her three co-founders founded Dazzle Angels. 

– Charlie and Lee then provide their investment thesis and why Dazzle Angels seeks to invest in zebras instead of unicorns. 

– Charlie shares what a Minimum Viable Investment Framework is and how they are using it to grow their portfolio. 

– Charlie and Lee break down the founders' learning curve and the infrastructural gaps they notice entrepreneurs face as they try to scale. 

– Charlie and Lee end the episode explaining why owning assets is a major tool for women to achieve self-sufficiency. They also describe their vision for a Pan-African women angel investor ecosystem.

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