Baobab Network, an early stage investor backing startups across Africa, has announced the acquisition of Reflector Marketing, a South African-based strategy and branding agency.
baobab network has been accelerating startups through capacity building and funding since 2019, and recently raised its investment threshold to USD 50,000.Its portfolio includes 50 startups
Meanwhile, Reflector Marketing, founded by Klein Maharaj in 2022, has established itself as a specialized agency that provides strategic marketing, branding, and digital services tailored to the needs of startups.
The company has now been acquired by Baobab Network, which Baobab co-founder Toby Hannington says represents the company's ambitious plans and long-term commitment to investing across Africa. Ta.
“Baobab has made no secret that we want to be the top early investor across Africa. We have been working with the Reflector team since the beginning of 2023, and the move to acquire them is a testament to the work they have already done on our portfolio. We have incredibly ambitious long-term growth plans and the addition of Klein and his team will no doubt accelerate those plans,” said Hannington.
Maharaj and his broader team will join Baobab, with Maharaj assuming the role of director of the accelerator. This integration will enable Baobab to provide comprehensive in-house support to its portfolio companies, further enhancing their growth and investment readiness. Maharaj said he is enthusiastic about the synergy between the two organizations.
“Our goal has always been to help the world’s best startups position themselves, win in the market and raise capital to fuel their growth. Today, as part of Baobab, we , we're thrilled to be dedicated to supporting African entrepreneurs. Baobab already has a phenomenal team that has made a huge impact on Africa's venture ecosystem. We are building the strongest capability team among early stage investors on the continent,” he said.
