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Sale to BlackBerry leaves Movirtu founders unhappy

Rebecca Wanjiku | Oct. 7, 2014
Dispute spurs controversy over VC investments in Africa

The process of maintaining ownership and investment in a company means hiring lawyers and understanding how the VC process works, which is one of the biggest challenges for startups and growing companies, White said.

"Unfortunately, there are few really good startup lawyers active in the African space and even fewer startups with the resources to hire them," White said. "Entrepreneurs go into the negotiations without proper representation, and if they are not careful they can find out later why some of these terms are so important to understand in detail."

Movirtu was intriguing to many African entrepreneurs because the company has its offices in London and was expected to be savvy, in terms of how it negotiated with investors. The company is now expecting to expand outside Africa to other developing and developed countries.


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