D E Wasake, Principal, Inachee Limited

Basic Information


Start ups and early stage businesses

Sector focus:


Amounts provided:

UGX 5,000,000- UGX 10,000,000

Funding type

Venture capital

Means, rather than providing a loan, the fund takes a % of shares in the company

Key criteria

  • Model can be repeated across Africa;
  • Profitable business within 3-5 years (exit period for fund);
  • Strong management

Further information


Tel: +256(0)414 233 700/800

Who is behind the fund?

  • Ashish J. Thakkar; CEO,Mara Group;
  • Alex Rezida, Partner at Nangwala, Rezida & Co. advocates; and
  • Peter Mukiza, Managing Partner in Uganda for Quantum capital.

What is the process like?

1. Submit business plan. The plan should include information consistent with the key criteria for the fund.

2. Introductory meeting. If the fund likes the plan, the investor will meet the fund team.

3. Due diligence. This means the fund “verifies” the information presented in the plan.

4. Term sheet. Document spelling out the basic terms and conditions.

Our view/tips for success?

1. Team: Venture capital funds like Mara know that a great team will develop and implement the idea successfully. If you have no internal capacity, have a professional join you.

2. Executive summary. Investors are busy people and so your summary, usually one page, should have one aim in mind: “Make them eager to turn the pages”.

3. Repeatable model. The fund is looking for good business ideas that will transform Africa. Can the business model be repeatable not only in Uganda but perhaps Kenya, Rwanda, Tanzania?

4. Understand the fund and persons behind it. A core part of a successful business relationship is whether the two parties “connect”. Investors are people and they usually invest if they like the person behind it.

In July, I met Nigel Ball, director of an affiliated entity. He is a very likeable, straight talking professional. I can therefore expect that the rest of the team will be of this nature.

Otherwise, best of luck.


Inachee is not an agent or connected to this entity, it is an independent thought leadership and advisory firm. The information provided is based on our research and experience. Whilst we have taken steps to ensure the accuracy of the information presented here, there can be no guarantee that it will remain accurate.