LO
Ladi Okonkwo
Managing Partner · Dubai
Fifteen years in banking and payments across the Gulf and Africa. Previously built the merchant acquiring business at a tier-one bank; sits on four boards.
Deal process
Nine steps from first email to exit.
Most firms have a process. Fewer explain it. Here is ours, including the step where we say no and the step where we keep investing.
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01
Origination
We source through our own network of operators, angels and portfolio founders, plus direct inbound. There is no warm-introduction requirement at Zoom Ventures — a clear email with a deck reaches an investor.
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02
Screening
An analyst and a partner review the deck and any data room against our thesis. We reply either way within five working days. If it is not a fit, we try to say why and who else to speak to.
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03
First meeting
Forty-five minutes with the partner who would own the investment. We want to understand the insight, the customer and why now — not to walk through the deck slide by slide.
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04
Diligence
Two to four weeks of customer references, cohort analysis, unit economics, legal review and market mapping. We share our questions in writing and expect the same candour in return.
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05
Investment committee
Two partners and an external adviser review a written memo with the bear case stated first. The decision is invest, pass, or revisit with specific milestones. No committee by ambush.
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06
Term sheet & close
Plain-vanilla preferred equity, standard pro-rata, no pay-to-play, no participating liquidation preference. We send the term sheet before exclusivity and close in four to six weeks.
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07
Onboarding
A 90-day plan agreed with the founder: three priorities, one hiring decision, one pricing decision. We assign a partner and an operating adviser from day one.
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08
Follow-on
Half the fund is reserved. We exercise pro-rata in the next round when the company is performing, and we can lead a bridge if the market closes. We do not abandon a company at the first difficult quarter.
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09
Exit
Exit work starts two years before a process: clean cap table, audited accounts, a management team that can survive diligence. We sell to strategic buyers, growth funds or via secondary, whichever returns capital fastest.
Typical terms
What our term sheet says, in advance.
Terms are negotiated, but the shape does not change much. If your round requires something outside these boundaries, we will tell you early rather than at signing.
Instrument
Preferred equity
SAFEs on convertible notes only where local law makes preference impractical.
Liquidation preference
1x non-participating
No participating preferred, no multiple stacks across rounds.
Board
1 seat or observer
Never a board majority at seed; founder control preserved.
Pro-rata
Full pro-rata
We participate in future rounds proportional to ownership.
Founder vesting
4 years / 1-year cliff
Credit for time already served is negotiable.
What we do not ask for
No pay-to-play
No participating preference, no redemption rights, no founder repurchase at cost.
After the wire
What a partner actually does between board meetings.
Support is not a platform deck. It is a partner with a phone who knows your numbers, plus a small operating bench we pay for — not a directory of service providers.
- Hiring. We run first-round screens for senior commercial and finance roles and share our network of operators who have done it in-market.
- Pricing and unit economics. A quarterly review of cohort retention, contribution margin and payback — with a written action list.
- Next round. We introduce the five or six funds most likely to lead your Series A, and we share our own memo to save you the re-telling.
- Governance. Board packs seven days ahead, minutes within three, and a clear cap-table process for every issuance.
11 board seats
held today by four investment partners. Every portfolio company has a named partner and a
written 90-day plan.
Investment team
Four partners. No associates between you and the decision.
The person who meets you first is the person who writes the memo, takes the board seat and signs the follow-on.
WK
Wanjiru Kamau
Partner · Johannesburg
Operator turned investor. Scaled a pay-as-you-go solar business to 90,000 households before joining; leads energy and climate investments.
TN
Thabo Nkosi
Partner · Johannesburg
Ten years in Southern African logistics and commerce. Founded and sold a middle-mile delivery business; leads our Southern Africa portfolio.
AS
Aisha Suleiman
Partner, CFO · Dubai
Runs fund operations, valuation and LP reporting. Former audit partner covering financial institutions across the Gulf and Africa.
Founder FAQ
The questions we are asked most.
Do I need a warm introduction?
No. Our inbound inbox is read by the investment team, not a filter. Send a deck
of ten to fifteen slides, your current metrics and what you are raising to
[email protected]. A referral helps, but it is not required and it does not replace evidence.
What should the first email contain?
One paragraph on the problem and the insight, one on traction with actual numbers,
the round size and use of funds, and a deck. If you have a data room, link it. We reply within
five working days either way.
Will you sign an NDA before I share my deck?
Generally no at deck stage — we see too many companies in adjacent spaces. We
will sign a mutual NDA before receiving source code, customer contracts or detailed financials
in diligence.
How much equity do you need?
We target 8–15% fully diluted at entry. We do not require board control, and we
do not ask founders to give up more than 20% in a seed round.
Do you invest outside your three regions?
Occasionally, when a company in another emerging market is introduced by a
founder or co-investor we trust, and we have an operating partner who can support it. The thesis
still has to hold.
What happens if you pass?
We tell you why, in writing, and where possible we introduce you to two or three
firms whose thesis is a better fit. Several companies in our portfolio came back a year later
after a pass.
Can I raise from you and another lead in the same round?
Yes. We are comfortable as a co-investor and often prefer a strong lead with
sector depth. We will not require you to drop another investor as a condition of our cheque.