Temi Marcella Awogboro, General Partner at Magic Fund on the growth of Africa's startup ecosystem, how she helps startups grow, the role of investors in creating corporate governance, and how to manage the relationship with co-founders.

Our guest for today’s episode, Temi Marcella Awogboro, is a partner at Magic Fund and previously led the creation of one of Nigeria’s largest private hospitals.

She has also been investing in startups for over a decade. In this conversation, she shares her thoughts on the potential of fintech in Nigeria, managing the co-founder relationship and several other topics.

Show Notes

0:38 –  Temi's childhood

2:11 – Studying Economics and getting into Goldman Sachs

5:53 – Temi's view of the changing tech ecosystem in Africa

8:19 – How Temi uses her experience as an investor and operator to help startups

11:04 – Instituting corporate governance and the role of investors

14:40 – Governance in early-stage startups

17:34 – Managing co-founder relationship and how to allocate equity to co-founders

19:34 – Temi's earliest investments

23:00 – Juggling her role as a mother, investor, and entrepreneur

25:35 – Advice for founders building a team

29:08 – When is the right time for a startup founder to step aside as CEO?

31:26 – The types of companies Magic Fund backs

32:03 – Do we have too many fintech startups?

35:23 – Sectors that excite Temi

38:38 – Profit or Scale