DEMO REPORTHarambe Ventures — fictional fund, real report format
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Brouky Report · 19 May 2026

Harambe Ventures

The Editorial Analyst — portfolio velocity, market movements & emerging horizons

Kinshasa, CongoSeed / Series ACentral Africa
Website ↗
119
/ 110 Score
Section 01

At a glance

Sections 2–16 are data; section 17 is an optional written summary when included. Jump in from here.

02Portfolio overviewHealth states, movers, headline score breakdown — orientation before deeper cuts.03Investment mandateTarget regions, stages, sectors and ticket range — the fund's stated forward focus.04Deal flow radarRegional raises outside the book with fit hints; diligence list only.05VC twinsPeers by tags, stage and geography — structure & overlap, not performance league tables.06Portfolio startup twinsSpotlight holdings vs similar companies; read pool size and selection note on the run.07Tag intelligenceTheme momentum, funding shifts and crowding vs the market.08Serial foundersRepeat founders overlapping your sectors — network map, not endorsements.09WhitespaceWhere activity runs ahead of how much you play there — thesis questions, not a mandate.10Taxonomy survivalOutcome mix vs baselines; thin slices move around.11Peer trendsHow peer books look in overlapping buckets — loose mirror, not a formal peer group.12Risk intelligenceTag-level signal concentration — pattern screen, not name-by-name risk work.13Follow-on pipelineNext-stage context and historical conversion flavour — not round predictions.14Exit radarExit examples and category rates where we have coverage.15Geo arbitrageCheque shape by country in our sample — relative only.16Co-investor mapSyndicate overlap and simple health hints from data.17Written summaryFull memo when bundled with export — mirrors sections 2–17; omitted if pipeline did not attach one.
Section 02

Portfolio overview

Snapshot of portfolio health states, movers, headline score and signal flags from our dataset.

Reading guide
What you are looking at

This section is a point-in-time snapshot of this fund’s portfolio as it exists in our database: how many companies fall into each health state (alive, exited, zombie, dead, unknown), what has moved recently, and a small set of high-level signals.

How to use it

Use it the same way you would use a portfolio factsheet in a data room: orientation before you go deeper. The score breakdown, when present, shows how the headline score is composed. It is not a valuation, a mark, or a forecast of fund performance.

What it is not

This is not a complete audit. Coverage depends on ingestion completeness. Treat gaps and “unknown” labels as an invitation to verify off-platform.

Reading tip

If a company appears more than once, that usually reflects multiple investment edges (rounds) in the data model.

12
Portfolio Companies
12 tracked
67%
Healthy
0 alive
0
Zombies
Stagnant > 3 quarters
0
Recently Active (12m)
67%healthy
0 Alive0 Exited0 Zombie0 Dead0 Unknown
Score breakdown
Investment size fit13/15Deal volume26/30Portfolio outcomes35/40Risk adjustment22/25Community feedback23/30
119/140 · matches persisted · Δ 0
Score component
Investment Size Fit
Do your check sizes match the rounds you’re investing in? We reward consistent sizing (and avoid overinvestment gaming).
  • We compare invested amounts vs expected amounts by round type
  • Below 50% fit scores ~0, then scales up to max
  • Designed to stay fair across different stages
13/15

No inputs recorded for this component.

Score component
Deal Volume
Are you consistently active for your dominant stage focus? We reward steady deal cadence rather than spikes.
  • Deals/year vs expected activity for your dominant stage
  • Active-years fairness: new VCs aren’t penalized
  • Blended expectations for mixed strategies
26/30

No inputs recorded for this component.

Score component
Portfolio Outcomes
How your portfolio companies are doing overall. Alive, acquired, and IPO outcomes carry more weight than dead/zombie.
  • Per-startup outcomes are converted to a performance score
  • Exits are weighted positively; dead is negative
  • Aggregated into a portfolio-wide points value
35/40

No inputs recorded for this component.

Score component
Venture Signals
Canonical engine output. Points are taken from persisted vc_scores (no drift), with a full trace of signals underneath.
  • Starts at BASE(12), then adds/subtracts risk signals
  • Combines portfolio-level + per-startup signals + hype penalty
  • Trace shows what we observed (not what we “guess”)
22/25

No investor-safe risk display is available for this snapshot.

Score component
User Feedback
Unlocked when enough reviews exist. Aggregated from startup reviews: responsiveness + experience + comments.
  • Responsiveness score (0–10)
  • Experience score (0–10)
  • Comments sentiment (0–10) with guardrails
23/30

No inputs recorded for this component.

Full Portfolio12 companies
StartupCountryCategoryStageStatusRoleRounds
BananaStackCongoSeries AalivePortfolio
SilverbackAIRwandaSeedalivePortfolio
JungleOSUgandaSeries AalivePortfolio
Vine SwingCongoSeedalivePortfolio
ChestBeatKenyaSeries AalivePortfolio
TroopTanzaniaSeedalivePortfolio
GreenCanopyCongoSeries BalivePortfolio
GroomNetRwandaSeedalivePortfolio
ThunderNestUgandaSeries BexitedPortfolio
PeelPayKenyaSeries AexitedPortfolio
FogMountain AnalyticsCongoSeedzombiePortfolio
TermiteIOCameroonPre-SeeddeadPortfolio
Section 03

Investment mandate

This fund's stated investment mandate — target regions, stages, sectors and ticket range.

Reading guide
What you are looking at

A compact view of what the fund says it invests in: the geographies it prioritises, the stages it backs, the primary sectors it focuses on, and its typical ticket size. Data comes from the fund's managed profile and observed portfolio activity.

How to use it

Use it as a quick orientation layer before reading portfolio data — it tells you what the fund thinks it is, which you can cross-check against what it has actually done in sections 4–17.

What it is not

This is not a legal investment mandate and not a binding commitment. It reflects self-stated focus and observed patterns, which may diverge.

Reading tip

If regions or sectors look off, the fund owner can update their managed profile or trigger a context rebuild to refresh this section.

Region
Congo
Stage
SeedSeries A
Section 04

Deal flow radar

Recent regional raises you are not in yet — fit-ranked for discovery only, not a recommendation.

Reading guide
What you are looking at

A discovery list of companies that look like a reasonable thematic, stage, or regional fit given what we know about the fund and the company.

How to use it

Treat this as a sourcing shortlist to research — a way to see where the model thinks adjacent dealflow might sit, not a recommendation to buy, sell, or pass.

What it is not

It is not investment advice, a fairness opinion, or a statement that any company is raising or investable.

Reading tip

If two companies look similar, compare round context and ownership in your own systems.

82fit
Canopy DronesRwandaSeed
Conservation Tech · Drone Delivery, Rainforest Mapping, Aerial Surveys

Autonomous drones that map rainforest canopy density and track primate populations in real-time.

Stage matchGeo overlapConservation thesis
€2.4M
2026-04
Seed
71fit
BambooFiCongoSeed
FinTech · DeFi, Bamboo Assets, Sustainable Finance

Decentralized finance platform backed by bamboo plantation growth certificates.

Geo matchFinTech thesis
€1.8M
2026-03
Seed
65fit
MistCallUgandaSeries A
Communication Tech · Long-Range Comms, Jungle Networks, LoRa

Long-range communication network for areas with no cellular coverage, using tree-mounted relay nodes.

Stage fitInfrastructure thesis
€5.2M
2026-02
Series A
54fit
NestGuardTanzaniaPre-Seed
Security Tech · Territory Monitoring, Anti-Poaching, Smart Sensors

AI-powered perimeter security for wildlife reserves using ground vibration sensors.

Geo adjacentConservation angle
€750K
2026-05
Pre-Seed
48fit
AgriTech · Vertical Farming, Leafy Greens, Primate Nutrition

Indoor vertical farms optimized for high-nutrient leafy greens, originally designed for primate sanctuaries, now serving restaurants.

Thematic overlap
€1.2M
2026-04
Seed
Section 05

VC twins

Other funds that resemble this one on geography, stage and tag overlap — peer map, not a performance ranking.

Reading guide
What you are looking at

Other investors that “look like” this fund under a few stable dimensions: geography, stage, and tag overlap.

How to use it

Use it to place the fund in a peer cluster and understand the syndicate neighborhood you might see in a cap table.

What it is not

It is not a performance benchmark. Similarity does not imply similar returns or portfolio construction.

Reading tip

“Twins” can include funds with different stated strategies if their realized portfolios overlap.

Stage-ahead VCs

Institutional peers operating one stage ahead. Three geographic lenses: Regional (Central Africa), Global, Continental. We never title the third column “Sector”: older responses may only populate that slot from a legacy “sector” field — it maps here as Continental.

RRegional (Central Africa)
No peers in this bucket.
GGlobal
No peers in this bucket.
CContinental
No peers in this bucket.
Angels & angel-like investors

Kept separate from institutional stage-ahead twins.

No similar angels returned.

Next-round fits by portfolio company

Per holding: target stages and suggested VCs — not merged into global twin columns above.

No startup next-stage rows returned.

Same named partners, same stage focus

Syndicate-style overlap peers (again: Regional vs Global vs Continental).

No same-partners peer rows returned.

Region: Central Africa
Section 06

Portfolio startup twins

Each spotlight holding matched to similar market companies — use for patterns; check pool size and method note.

Reading guide
What you are looking at

Portfolio startup twins spotlight individual holdings and surface market companies that resemble them on taxonomy, stage, and signals.

How to use it

Use it as pattern recognition across your book: for each highlighted name, read why the twins look alike and how those comparables are evolving.

What it is not

This is not a pipeline of deals to execute, nor verification that any twin is raising.

Reading tip

If selection_method differs between runs, ordering and richness can shift — cross-check candidate pool size.

We spotlight 2 live portfolio holdings and surface market companies that resemble them on taxonomy, stage, and signals.

Selection method · gemini

Selected BananaStack (highest activity) and SilverbackAI (fastest-growing category) for twin analysis.

alive · Series A
Pool: 23

Primary: Primate Tech

Banana LogisticsSupply ChainTropical AgricultureB2B SaaS
Colombia · Series A · alive
DB 0.78 · stage +0 · #1 in blend
Supply ChainTropical Agriculture
Why similar

Both optimize supply chains for perishable tropical goods in challenging terrain. Tropical Routes focuses on cocoa; BananaStack on bananas. Similar unit economics and last-mile challenges.

Trajectory

Tropical Routes closed Series A at $4.2M, 3x revenue growth YoY. Now expanding from Colombia to Ecuador and Peru.

Partnership / ecosystem

Potential integration: BananaStack's inventory system + Tropical Routes' delivery network could create a pan-tropical logistics platform.

Cautions

Different regulatory environments. Colombia's export infrastructure is more mature than Central Africa's.

Ghana · Seed · alive
DB 0.65 · stage +5 · #2 in blend
Supply ChainBlockchain
Why similar

Both tackle post-harvest loss in tropical fruit supply chains. FruitChain uses blockchain provenance; BananaStack uses ML demand forecasting.

Trajectory

Early traction: 12 farms onboarded, $180K ARR. Strong team from Cocoa Board backgrounds.

Partnership / ecosystem

BananaStack could license FruitChain's provenance layer to satisfy European import traceability requirements.

Cautions

FruitChain is still at Seed — execution risk is higher. Blockchain approach adds complexity that farms may resist.

alive · Seed
Pool: 15

Primary: Conservation Tech

Artificial IntelligenceWildlife TrackingComputer VisionDeep Learning
South Africa · Series A · alive
DB 0.82 · stage +8 · #1 in blend
Computer VisionWildlife Tracking
Why similar

Near-identical thesis: both use computer vision to identify and track individual animals. WildLens started with elephants; SilverbackAI with gorillas.

Trajectory

WildLens raised $6M Series A, deployed across 14 national parks. Their model now covers 28 species. Revenue from park services and NGO contracts.

Partnership / ecosystem

SilverbackAI's gorilla-specific models could plug into WildLens' multi-species platform as a specialist module.

Cautions

WildLens is one stage ahead and expanding fast. SilverbackAI needs to differentiate beyond species focus or risk being absorbed.

Section 07

Tag intelligence

How your portfolio tags move on activity, funding and crowding versus the broader market.

Reading guide
What you are looking at

A thematic and momentum view built on tags that appear in this portfolio: activity, funding, year-over-year change, and how crowded a tag is.

How to use it

Use it to see concentration risk and narrative heat.

What it is not

It is not a GICS-style sector taxonomy, and not a full market-sizing exercise.

Reading tip

High crowding means a lot of capital and attention already hunting in the same label bucket.

TagDeals PYDeals TAYoYEUR PYTotalCrowdingTrend
Conservation Tech4731+52%€89.0M1568 VCshot
Banana Logistics128+50%€24.0M383 VCsgrowing
Primate Wellness96+50%€15.0M284 VCsgrowing
Canopy Infrastructure1815+20%€42.0M677 VCsstable
Rainforest IoT1411+27%€31.0M445 VCsgrowing
Anti-Poaching Systems69-33%€8.0M316 VCscooling
Carbon Credits3428+21%€120.0M18922 VCsstable
Tropical Agriculture2219+16%€55.0M9511 VCsstable
Tree-to-Tree Logistics31+200%€4.5M72 VCshot
Nest Architecture54+25%€9.0M183 VCsgrowing
Section 08

Serial founders

Repeat founders whose profile overlaps your sectors or geographies — a network map, not endorsements.

Reading guide
What you are looking at

A list of repeat founders whose profile is close enough to the fund’s focus to be worth a sourcing and network map.

How to use it

Use it as a diligence and conversation backplane: which repeat builders overlap with the fund’s world.

What it is not

It is not an endorsement, and not a list of “best founders.”

Reading tip

Read why a founder is listed: overlap with categories or regions can be more informative than a raw relevance number.

3 startups · Congo, Rwanda
78fit
Exit: ThunderNest (acquired by Canopy Holdings)
Conservation Tech
2 startups · Kenya, Tanzania
65fit
Exit: PeelPay (acquired by MobileMango)
FinTech
3 startups · Rwanda, Uganda
58fit
Climate Tech
2 startups · Congo
44fit
Health Tech
Section 09

Whitespace opportunities

Themes with market activity versus how much capital you already have there — prompts “should we be here?” questions.

Reading guide
What you are looking at

Themes or tag buckets where, relative to a simple benchmark, there may be strategic room.

How to use it

Use it as a strategic question generator: “If we run this strategy, should we be here?”

What it is not

It is not a list of guaranteed opportunities; a low score does not mean a theme is bad.

Reading tip

Cross-check with the fund’s own thesis and portfolio construction rules.

TagYoY GrowthActive VCsDeals PYScoreIn Portfolio?
Gorilla Genomics+145%2488No
Bamboo Materials+67%3779No
Mist Harvesting+85%1372No
Primate EdTech+42%2565No
Canopy Solar+33%4961Yes
Jungle Acoustics+28%2455No
Volcanic Soil Analytics+19%3648Yes
Section 10

Taxonomy survival rates

Outcome mix by category vs regional and global baselines — comparative health, not a forecast.

Reading guide
What you are looking at

A rough outcome mix by sector compared with regional and global baselines from the same data universe.

How to use it

Use it to see whether the fund’s book, in a given bucket, leans healthier or harsher than what we typically observe elsewhere.

What it is not

It is not a time-to-exit model, not a mark-to-mark, and not a full hazard rate analysis.

Reading tip

Differences in the definition of “zombie” or “exited” between systems can move rates by several points.

CategoryRegional HealthGlobal HealthAlive ΔExit ΔHealth Δ
Conservation Tech78%65%+8pp+5pp+13pp
FinTech62%71%-5pp-4pp-9pp
Climate Tech74%68%+3pp+3pp+6pp
Health Tech55%63%-6pp-2pp-8pp
AgriTech69%58%+7pp+4pp+11pp
Section 12

Risk intelligence

Tag-level rollup of observable risk-style signals — concentration view, not company-level covenant work.

Reading guide
What you are looking at

A tag roll-up of risk-style signals across portfolio companies — a concentration and pattern view.

How to use it

Use it to structure questions in diligence about where stress would show up first.

What it is not

It is not a statement that any company will fail, and not legal or compliance advice.

Reading tip

A high risk score in a tag often means clustering, not a single “bad” company.

SectorCosHypeReg.VolatileFlipBridgeFollow-onTier-1Risk
Carbon Credits318%22%12%5%8%45%30%24
Conservation Tech48%12%6%2%5%62%38%11
Banana Logistics24%6%8%3%4%55%25%8
Primate Wellness25%3%4%1%3%70%42%6
Rainforest IoT311%8%10%4%12%38%20%14

Hype = hype cycle exposure · Reg. = regulatory risk · Volatile = volatile sector · Flip = churn signal · Bridge = bridge round dependency · Follow-on = has indicator · Tier-1 = tier-1 backing

Section 13

Follow-on pipeline

Companies at plausible next-stage financings plus historical conversion context — not predictions of raises.

Reading guide
What you are looking at

A framing of reserve deployment: companies plausibly at a next financing stage, with historical conversion patterns by category.

How to use it

Use it in conversations about reserves, pacing, and pro-rata discipline.

What it is not

It is not a prediction of who will raise, at what price, or with whom leading.

Reading tip

If data is sparse in a category, conversion should be read qualitatively.

Conservation Tech · Computer Vision, Wildlife Tracking
Series A€6.0M2026-Q3
FinTech · Payments, Last-Mile Delivery
Series A€4.5M2026-Q4
TroopTanzania
HR Tech · Collaboration, Remote Work
Series A€3.8M2027-Q1
GroomNetRwanda
Social Networking · Community, Trust Networks
Series A€3.2M2027-Q2
Conversion rates (your stage → next)
CategoryRateReached / At stage
Conservation Tech42% /
FinTech35% /
Climate Tech28% /
Section 14

Exit radar

Exit-like examples and category exit rates in our data — calibrate narratives, watch coverage gaps.

Reading guide
What you are looking at

A view of exit-like outcomes and exit rate patterns in categories relevant to the portfolio.

How to use it

Use it to set expectations on how often exits appear in a theme or geography in our data.

What it is not

It is not a list of the fund’s actual realized exits unless those companies are in our set with updated status.

Reading tip

Compare count to time held in the real portfolio outside this system.

Recent exits
CompanyCountryCategoryStatusDate
UgandaPropTechacquired2025-09
KenyaFinTechacquired2025-06
Exit rates by category
CategoryRateExits / Total
FinTech18%11 / 61
PropTech15%6 / 40
Conservation Tech12%4 / 33
Climate Tech8%3 / 38
Section 15

Geographic arbitrage

Median round shape and stage mix by country — relative lens on deal structure, not macro advice.

Reading guide
What you are looking at

A relative comparison of deal size and stage mix by geography in our data.

How to use it

Use it to reality-check expansion stories.

What it is not

It is not macroeconomic advice, FX forecasting, or a map of where to move next.

Reading tip

A country with a higher median check is not “better” for every strategy.

Congo28 deals
StageDealsAvg RoundMedian RoundTotal Capital
Pre-Seed8€350K€280K€2.8M
Seed14€1.2M€950K€16.8M
Series A6€4.5M€3.8M€27.0M
Rwanda22 deals
StageDealsAvg RoundMedian RoundTotal Capital
Pre-Seed5€420K€380K€2.1M
Seed12€1.5M€1.2M€18.0M
Series A5€5.2M€4.8M€26.0M
Uganda18 deals
StageDealsAvg RoundMedian RoundTotal Capital
Seed11€980K€850K€10.8M
Series A7€3.8M€3.2M€26.6M
Kenya45 deals
StageDealsAvg RoundMedian RoundTotal Capital
Pre-Seed10€500K€420K€5.0M
Seed22€1.8M€1.5M€39.6M
Series A13€6.2M€5.5M€80.6M
Section 16

Co-investor quality map

Who shows up beside you in data — syndicate neighbourhood and simple overlap metrics.

Reading guide
What you are looking at

A map of the syndicate environment: which other investors show up in cap tables with this fund.

How to use it

Use it to test stories about access and reputation.

What it is not

It is not a “good investor / bad investor” list.

Reading tip

If you have policy constraints on co-investors, use this as a first pass for pattern, then verify in cap tables.

InvestorCountrySharedTotal Inv.ScoreAlive %Zombie %Tags
Silverback CapitalRwanda42810882%7%Conservation Tech, Climate Tech
Gorilla FundCongo31910279%11%Primate Wellness, Banana Logistics
Jungle FundUganda3229573%9%FinTech, Mobility
Savanna VenturesKenya2358877%6%AgriTech, Payments
Orangutan EquityIndonesia2317668%13%Tropical Agriculture, Conservation
Bonobo PartnersBelgium1447175%8%Climate Tech, Social Impact
Baobab CapitalSouth Africa1528271%10%Developer Tools, Cloud
Section 17

Written summary

Long-form memo that mirrors the report’s themes — optional read; numbered sections above stay the audit trail.

Reading guide
What you are looking at

When the export includes one, this is a structured narrative memo grouped into the same areas as sections 2–15.

How to use it

After scanning the headline tables, or before meetings if you want paragraph context.

What it is not

Not legal, tax or investment advice; not authoritative when it conflicts with the tables.

Reading tip

Opening bold framing line (if present) summarises tension only — reconcile every claim with sections 2–15.

Written summary — Harambe Ventures

Same storyline as sections 2–15 in prose. Optional companion, not source of truth.

Spans 14 of the numbered data blocks in this report. Conflicts resolve in favour of the tables.

Portfolio Health and Position

Harambe Ventures maintains a robust portfolio of 12 companies with a 67% alive rate, placing the fund in the 84th percentile among Central African VCs. The fund's score of 119/140 reflects strong deal volume, healthy portfolio outcomes, and positive community feedback. Two successful exits (ThunderNest and PeelPay) in 2025 demonstrate the fund's ability to generate liquidity events even in a frontier market.

The portfolio leans toward conservation technology and jungle infrastructure, themes that are seeing accelerating global interest (Conservation Tech +52% YoY deal growth). GreenCanopy's progression to Series B marks the fund's most mature active position.

Strategic Concerns
1.
Carbon Credits concentration risk: With a risk score of 24, the fund's carbon credit exposure carries elevated hype and regulatory risk. The European carbon market's regulatory uncertainty could impact GreenCanopy's revenue model directly.
2.
FogMountain Analytics zombie status: This Seed-stage investment has shown no meaningful progress. A structured review should determine whether to provide bridge funding or write down the position.
3.
Health Tech underperformance: Regional health tech survival rates (55%) lag the global benchmark (63%) by 8 points. ChestBeat needs to demonstrate product-market fit before the Series B window.
Action Items
1.
Prepare SilverbackAI for Series A: The company's conservation AI thesis is validated by WildLens's $6M raise at the same stage. Target a $6M round in Q3 2026. Map warm introductions to Orangutan Equity and Bonobo Partners who share the conservation tech thesis.
2.
Review FogMountain Analytics within 30 days: Document a hold/support/exit recommendation. If the team cannot show a path to $100K ARR by Q4, begin wind-down procedures.
3.
Evaluate Gorilla Genomics whitespace: This emerging tag shows 145% YoY growth with only 2 active VCs. Identify 3-5 companies in the space within 60 days. BananaStack's agricultural data could provide a warm entry point.
4.
De-risk carbon credit exposure: Review GreenCanopy's dependence on voluntary carbon markets. Encourage diversification into biodiversity credits (emerging EU framework) as a hedge against regulatory shifts.

Confidential — not for redistribution