German drinks maker Jägermeister’s venture arm is expanding its bets on Africa and other emerging markets, where it sees strong growth in consumer tech shaping nightlife and live entertainment.
Driving the news
Best Nights VC made its first African investment earlier this year in Nairobi-based HustleSasa, a ticketing and events platform that’s expanding into lending and live event hosting.
- The move marks a springboard into Africa, where a young, tech-savvy population and vibrant music scene are creating fertile ground for consumer innovation.
- Jägermeister already counts Africa among its fastest-growing markets, with sales in South Africa and Kenya.
Why it matters
Best Nights VC backs startups that fuel nightlife, entertainment, and social occasions where people might consume Jägermeister. That puts Africa’s music and events industries — from Afro house to rap — directly in its sights.
“Consumer trends will no longer come from the US or the UK. They are coming more and more from emerging markets,” — Lorrain de Silva, managing director, Best Nights VC.
Zoom out
Corporates are increasingly eyeing Africa’s cultural industries.
- Sony Ventures launched a $10M fund in 2023 for African music, film, gaming, and animation.
- The NBA created a men’s basketball league to grow the sport across the continent.
Between the lines
Africa’s startup market offers investors less crowded opportunities. While Western live event planning is fragmented across dozens of providers, African startups often bundle ticketing, payments, insurance, and communications into one platform.
- HustleSasa, for example, is positioning itself as a pan-African commerce platform for event creators, with ambitions to scale into 15 countries.
How Best Nights invests
- Its six-person team remains Berlin-based and only co-invests with local institutional investors to navigate cultural and ecosystem dynamics.
- Beyond capital, the fund brings expertise in nightlife and consumer culture, and hosts founder-investor networking events in markets like Nairobi.
What’s next
Best Nights VC is pursuing similar plays in Latin America, India, and Southeast Asia, targeting music and nightlife-driven consumer sectors.
“We’re following a global agenda but with a very strong focus on emerging markets,” de Silva said.
Source: Global Corporate Venturing
