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Baobab Network acquires Reflector Marketing to further strengthen its support for African startups
NAIROBI, Kenya and DURBAN, South Africa, April 2, 2024 /PRNewswire/ -- Baobab Network ("Baobab"), an early-stage investor backing startups in Africa, today announced the acquisition of Reflector Marketing, a strategy agency and brand based in South Africa.
Founded in 2022 by Klyne Maharaj, Reflector Marketing has established itself as a specialist agency offering digital, branding and strategic marketing services tailored to the needs of startups. With a diverse clientele spanning five continents, including marquee names like Jem, Opus and Batelle, Reflector has played a pivotal role in helping startups across a range of industries hone their positioning and scale.
Commenting on the acquisition, Toby Hanington, co-founder of Baobab, said the move epitomizes Baobab's ambitious plans and long-term commitment to investing across Africa.
"Baobab has made it no secret that we want to become Africa's leading early-stage investor. To do this, we are always thinking about the value we create for founders, in addition to our equity investment. We have been working with Reflector since early 2023, and "The decision to acquire them is a testament to the work they have already done with our portfolio. We have incredibly ambitious long-term growth plans and the addition of Klyne and his team will definitely accelerate them."
Klyne Maharaj, founder of Reflector Marketing, expressed excitement about the synergies between the two entities:
"Our goal has always been to help the world's best startups consolidate their positioning, win their markets and raise capital to fuel their growth. Now, as part of Baobab, we are excited to focus our efforts exclusively on supporting entrepreneurs in Africa. Baobab already has a phenomenal team that has had a profound impact on Africa's venture ecosystem. Together, we will build the most powerful capabilities team of any early-stage investor on the continent."
Klyne and his broader team will join Baobab, with Klyne taking on the role of Accelerator Director. This integration will enable Baobab to offer comprehensive internal support to its portfolio companies, further enhancing their growth and investment readiness.
Learn more about Baobab here and Reflector Marketing here.
CONTACT: team@thebaobabnetwork.com
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