RCP #9 From building Go1 [$3B] to leading Breega [$700m AUM] in Africa, with Melvyn Lubega

Melvyn Lubega is a Partner at Breega, one of Europe's fastest-growing VC firms ($700m) which recently launched its first Africa-dedicated fund.

This episode was recorded in October 2023.

Timestamps:

00:00 - In this episode

00:50 - Introduction

01:53 - From founder, to angel, then VC

04:37 - Growing Go1 to a $3b edtech giant

07:15 - Breega's DNA and its expansion into Africa

09:47 - Global funds' common mistake in Africa

12:48 - (some funny part)

14:38 - Uganda and the curse of tiny markets

16:51 - This model was doomed to fail1

9:13 - Here's where I see the next opportunity

References:

Go1 - https://techcrunch.com/2022/06/06/go1-nabs-100m-at-a-2b-valuation-to-upgrade-its-curated-enterprise-learning-platform/

Numida - https://techcrunch.com/2022/09/28/yc-backed-fintech-numida-raises-12-3m-led-by-serena-ventures-to-extend-loans-to-msmes-beyond-uganda/

B2B e-com struggling in Africa - https://restofworld.org/2023/africa-b2b-ecommerce-shutdowns-layoffs/

Listen on all platforms:

Youtube - ⁠https://www.youtube.com/@TheRallyCapPodcast

Spotify - ⁠https://open.spotify.com/show/3vUDH5yEH6pvRkqM1TVaxS⁠

Apple Podcasts - ⁠https://podcasts.apple.com/ca/podcast/the-rally-cap-podcast/id1731710244

⁠Where to find Melvyn:

Linkedin: https://www.linkedin.com/in/mlbg/X/Twitter: https://x.com/MelvynLubega

Where to find Kyane:

Linkedin: https://www.linkedin.com/in/kyanekassiriX/

Twitter: https://twitter.com/kyanekassiri

Learn more about Rally Cap: https://techcrunch.com/2022/05/05/rali_cap-gets-backing-from-global-vcs-and-launches-30m-fintech-fund-for-emerging-markets/