Last week, Future Africa revealed its plans to establish an office in Tel Aviv, Israel, with Caleb Zipperstein, a former associate director at Israeli venture capital firm OurCrowd, joining as a venture partner. The move is unconventional as many African startups typically look toward Europe or Asia for capital. We spoke with Future Africa co-founder, Iyin Aboyeji, and Caleb Zipperstein to learn about the motivations behind this decision.
Exploring New Frontiers
Iyin explained that Caleb’s expertise and connections in Israel, including his political insights and experience with OurCrowd, were critical factors. Caleb’s deep understanding of Israel’s venture ecosystem made him the perfect partner to spearhead the move. Additionally, Iyin emphasized the potential for learning from Israel’s strengths in security, agriculture, and venture capital to address similar challenges in Africa.
Building on Hidden Connections
According to Iyin, Israel and Africa share longstanding but underappreciated ties in technology sectors like cybersecurity and agriculture. Caleb highlighted specific collaborations, such as Netafim’s $60 million irrigation project in Rwanda and funding for African companies like Tala and Zipline from Israeli VCs. These connections, combined with Israel’s growing unicorn ecosystem, make Tel Aviv a promising base for Future Africa to forge new relationships with Israeli limited partners (LPs).
A Global Vision
Future Africa’s presence in Israel marks the start of a larger global expansion strategy. Iyin shared plans to establish offices in Dubai and London, reinforcing Future Africa’s mission to become a global investment powerhouse focused on Africa. The Tel Aviv office represents a stepping stone to attract more investors who align with Future Africa’s vision of solving real-world problems with technology.
The Thriving Israeli Tech Ecosystem
Caleb described Israel’s tech ecosystem as maturing rapidly, with a record number of IPOs and unicorns emerging. Despite a shift toward growth-stage investments, early-stage opportunities remain, creating potential for collaboration with African markets. Caleb believes Israel’s entrepreneurial culture and history of solving complex problems make it an ideal partner for Africa’s burgeoning tech ecosystem.
Strengthening the African Investment Story
To draw Israeli investors, Caleb plans to showcase success stories from the African startup scene, such as Paystack’s acquisition and Flutterwave’s achievements. The rapid growth of African VC-backed companies highlights the immense opportunities for high-reward investments in the region.
Looking Ahead
As Future Africa continues its global expansion, Caleb’s role will extend beyond Israel to other markets, including Dubai and Europe. With over 300 global investors already onboard, Future Africa is building a robust network to drive African innovation on a global scale.
Through this initiative, Future Africa aims to deepen ties between the African and Israeli tech communities, leveraging Israel’s innovative ecosystem to propel Africa’s growth.
