Gabon’s first angel network is building more than a portfolio
Building a startup ecosystem takes more than funding. In Gabon, GAIN is working to bring together the investors, expertise and connections young businesses need to grow.
In a groundbreaking development for Gabon's nascent tech ecosystem, the Gabon Angel Investor Network (GAIN) has disbursed a total of 67.3 million FCFA (118,000 dollars) across four startups. This impressive feat is a testament to the growing importance of business angels in the region, especially considering the limited presence of traditional venture capital in Central Africa.
As of 2025, Gabon has only seen a single venture capital operation, valued at around 1 million dollars, compared to Cameroon's eight operations worth 26 million dollars. Central Africa, as a whole, has only recorded 10 operations and 27 million dollars, making it the smallest venture capital market on the continent.
Founded in 2021 by five visionary founders, GAIN made its maiden investment in 2022. Since then, the network has injected a total of 67,345,000 FCFA (118,000 dollars) into four startups, witnessing a significant increase in the average ticket size from 11.5 million FCFA (19,000 dollars) to 25 million FCFA (43,000 dollars). While these figures may seem modest in comparison to Nigerian venture capital standards, they represent a crucial step towards building a thriving startup ecosystem in Gabon.
One of the unique aspects of GAIN is its approach to sourcing investors. The network initially tapped into the networks of its founders, with co-founders Fabrice Nze Bekale and Vanessa Adande being the only original members still on board. In 2024, GAIN experienced a significant boost in membership, with the number of members nearly doubling to 36 within 18 months.
Notably, half of these members are women, a statistic that Adande attributes to her efforts in building trust and confidence among women investors. She explained that women are often hesitant to invest due to the perceived risks, and thus, she personally approached them to demystify the process and assuage their concerns. Adande also highlighted the importance of a pipeline of startups in attracting investors, noting that female entrepreneurs are more likely to secure funding when there are other women in the investment group.
Written by urgent.news from TechCabal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
