KENYA  – Baobab Network, an early-stage investor that backs startups across Africa, has announced the acquisition of Reflector Marketing, a strategy and branding agency headquartered in South Africa.

The financial details of the transaction were not disclosed.

The Baobab Network has been accelerating startups with capacity building and fundraising since 2019, and recently upped its standard investment to US$50,000. Its portfolio includes 50 startups

The acquisition of Reflector Marketing comes at a time when early-stage investors are under pressure to have portfolio companies with solid business cases beyond just venture capital cheques. 

In Reflector Marketing, Baobab states that it will help its portfolio companies with specialised in-house marketing, branding, and digital services, amplifying their potential for success and further funding.

Through the acquisition, the Reflector Marketing team will join Baobab to provide portfolio companies with in-house digital marketing support. 

Klyne Maharaj, founder of Reflector Marketing, will assume the role of director of Baobab Network’s accelerator. 

According to Toby Hanington, co-founder of Baobab, the move is evidence of Baobab’s ambitious plans and long-term commitment to investing across Africa.

“We’ve worked with the Reflector team since early 2023, and the move to acquire them is a testament to the work they’ve already done with our portfolio,” he said.

In the past, digital marketing, which comprises elements such as Search Engine Optimisation (SEO), social media marketing, product strategy, pitch deck preparation and branding, has been the go-to marketing medium for startups. 

This is because of its affordability compared to traditional marketing, relevance to target customers of startups, and its ability to adapt to the changing interests of the target market.

According to Maharaj, the acquisition is in line with its mission to enable the growth of startups via digital marketing. 

“Our goal has always been to help the world’s best startups nail their positioning, win their markets, and raise capital to fuel their growth.”

In a bold move to fortify Africa’s burgeoning tech landscape, Baobab Network announced last year its ambition to invest in 1,000 start-ups across the continent by 2033.

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