Anyone who is interested in investing in early-stage Somali-owned businesses can apply to become an angel investor with SomBAN. Members must agree to our code of conduct (which includes confidentiality and non-competition), must be comfortable with the risks and norms associated with early-stage equity investing, and must be dedicated to fostering economic growth within the Somali community.

To apply, fill out a membership application form on our “Become an Angel” page. After you submit the application, we’ll schedule a 15-minute call to discuss the network and ensure that your’e a good fit.

Any Somali business owner can apply for funding. We are open to any investment sector, with the exception of directly extractive industries (e.g., mining, oil drilling). Companies will be assessed on the basis of attractiveness of the investment, which includes transparency and integrity of the founding team.

Application submission: Entrepreneurs submit details of their business, which typically includes pitch decks, other marketing materials, and financial records.

Screening: The SomBAN team reviews applications.

Pitch preparation: Selected startups receive guidance to prepare their pitches for the larger angel group.

Pitch meeting: Entrepreneurs present a pre-recorded pitch and do a Q&A with SomBAN investors

Indication of Interest: SomBAN angels express their interest in investing and the likely amount they wish to invest.

Due Diligence: If there’s sufficient interest in the investment (typically around $12K in likely investment), then interested angels conduct a diligence process.

Investment: Funds are pooled into a Special Purpose Vehicle (SPV) and invested using a SAFE-like instrument.

Quarterly reporting: The company provides quarterly reports to angel investors.

Yes, angels must be willing and able to invest at least $1,000 in companies they’re interested in.

No, angels are not required to invest. However, they are expected to be active members of the community - either by investing, by supporting SomBAN companies, or by making high quality referrals for new companies or angels.

These are high-risk equity investments in early-stage companies. Returns are not guaranteed. Angels must evaluate their expected return on a deal-by-deal basis.

There are no fees for joining the network. Any costs associated with forming the SPV or other legal agreements are shared among participating investors.

Beyond funding, SomBAN provides entrepreneurs with operational assistance and fundraising support. Individual angels are not required to commit to post-investment support.