By Brittni Abiolu, Founder & Managing Director, VentureHue
The Inaugural Black Angel Forum in Detroit was a historic gathering that brought together Black angel investors and Black-led angel organizations from across the country. Coupled with the Creating Conscious Collisions Road Show, this event was a powerful convergence of minds dedicated to fostering entrepreneurial success for women of color. As an attendee, I was inspired by the depth of knowledge shared and the collaborative spirit that permeated the event. Here are my top takeaways from this groundbreaking forum:
Building Relationships with Other Angel Investors: One of the key themes of the forum was the importance of relationship-building among angel investors. Collaboration and collective effort create a supportive ecosystem where angels can leverage each other’s strengths. By forming angel syndicates with those who share similar interests and investment theses, we can amplify our impact and drive more substantial outcomes for the startups we support.
Knowledge Sharing Among Angels: The forum emphasized the value of sharing best practices and insights among angel investors. By openly discussing what has worked and what hasn’t, we can collectively improve our investment strategies. This exchange of knowledge not only enhances our individual decision-making but also fortifies the broader angel investing community.
Strong Due Diligence is Crucial for Better Returns: Good due diligence was highlighted as a cornerstone of successful angel investing. It starts with evaluating the founding team—assessing their experience, competence, and background. Additionally, understanding the company’s industry and its potential for market capture is vital. Rigorous due diligence increases the likelihood of selecting high-potential startups and securing better returns.
Diversify Your Angel Investments: Seasoned angels at the forum recommended diversifying investments across a minimum of 15 companies. Given the inherent risks of angel investing, spreading capital across multiple ventures mitigates risk and increases the chances of generating significant returns. This strategy is essential for building a resilient investment portfolio.
Africa: An Emerging Market for Angel Investor: Africa was identified as a burgeoning market ripe for angel investment. The continent is a hotbed of innovation, with thriving sectors such as Fintech, Transportation and Logistics, Energy & Water, Agriculture & Food, and Climatech. Angel investors are increasingly recognizing Africa’s potential and the opportunities it presents for impactful investments.
Women Entrepreneurs in Detroit are Building Gazelles and Unicorns: The Creating Conscious Collisions Road Show showcased the remarkable potential of women entrepreneurs in Detroit. Founders like Kaleena Eugene-Louis (Zero to Wear), Chinonye Akunne (ILERA Labs ), Anjali Patwardhan (CircNova), and Deidre Roberson (The Lab Drawer) are solving significant problems and creating generational wealth. These women are leading companies in high-growth sectors such as software, consumer packaged goods (CPG), and biotech, demonstrating Detroit’s vibrant entrepreneurial ecosystem.
The Inaugural Black Angel Forum and the Creating Conscious Collisions Road Show were more than just events—they were catalysts for change. By fostering relationships, sharing knowledge, emphasizing due diligence, encouraging diversification, spotlighting emerging markets, and celebrating the achievements of women entrepreneurs, these gatherings underscored the power of collective action in driving entrepreneurial success. As angel investors, we have the opportunity to make a lasting impact, and it begins with the insights and connections forged at such transformative events. I’m looking forward to 2025!
