The Africa Group
The Africa Group is a privately held, boutique advisory and venture capital firm founded in 2009 that delivers bespoke economic-growth and investment advisory engagements across Africa while making equity investments in African startups, operating from Washington DC, Dakar, and Addis Ababa.
- Company typePrivate
- Founded2009
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What The Africa Group does
The Africa Group (TAG) is a privately held boutique advisory and venture capital firm founded in 2009 and domiciled as The Africa Group LLC under New York law. The firm is organized around two complementary activities: (i) customized advisory engagements focused on economic growth and investment across African markets, delivered by teams assembled per mandate, and (ii) equity investments in early-stage African ventures. TAG maintains representative presences in Washington DC, Dakar (Senegal), and Addis Ababa (Ethiopia), giving it a dual-continent footprint linking African markets to North American capital. The co-founders reside across sub-Saharan Africa and North America, with Elias Schulze serving as Managing Partner.
The firm's go-to-market is sales-led and relationship-driven, with no digital marketing or productized distribution. Advisory mandates are described as bespoke, rapid-mobilization engagements grounded in "proprietary intelligence" and "fact-based rigor," with no publicly disclosed pricing. Revenue streams comprise professional services fees from advisory engagements and equity returns from a venture capital portfolio. The portfolio is small and disclosed publicly through a single material transaction: in March 2014, TAG acquired a 25% stake in Telemed Medical Services, an Ethiopian engineering consultancy whose Hello Doctor platform provides phone consultations, ambulance dispatch, and homecare via short code, co-invested alongside a USAID- and DFID-backed development fund and built with BelCash Technology Solutions and Ethiotelecom. TAG also runs The Africa Group Fellowship at Georgetown University's School of Foreign Service (established summer 2010) to support African graduate students.
TAG does not operate a software product, mobile app, or API platform. Its technology posture is advisory — proprietary intelligence on African markets — rather than product-based. No AI/ML capabilities, data assets, patents, or third-party technology integrations are disclosed. Brand identity is protected through three registered trademarks (The Africa Group, TAG, TAG Logo). Operating data is sparse: headcount is undisclosed beyond two named professionals, no funding rounds are recorded for TAG itself, and revenue is not publicly reported, which limits any quantitative assessment of scale or growth.
The Africa Group firmographics
Firmographics- Name
- The Africa Group
- Legal name
- The Africa Group LLC
- Website
- https://theafricagroup.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- The Africa Group is a privately held, boutique advisory and venture capital firm founded in 2009 that delivers bespoke economic-growth and investment advisory engagements across Africa while making equity investments in African startups, operating from Washington DC, Dakar, and Addis Ababa.
- Ownership category
- akta.pro rank
The Africa Group industry classification
Industry- Product category
- Boutique Advisory and Venture Capital
- NAICS
- Management Consulting Services (54161), Portfolio Management and Investment Advice (52394), Miscellaneous Financial Investment Activities (523999)
- SIC
- Services-Management Consulting Services (8742), Investment Advice (6282)
- akta.pro primary industry
- Strategy & Corporate Development Consulting (BPAHACAA)
- akta.pro secondary industries
- Corporate International / Emerging Markets CVC (FSANAHAM), Corporate Innovation & Technology Scouting Units (with investment mandate) (FSANAHAI), Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs) (BPAHAOAG)
Keywords
Where The Africa Group is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
The Africa Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Advisory Services: Boutique advisory services providing customized consulting teams for client engagements focused on economic growth and investment across Africa.
- Venture Capital Investment Returns: Equity investments in African ventures generating returns through growth equity stakes. TAG acquired 25% stake in Telemed Medical Services as part of their venture capital portfolio.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
The Africa Group product offering
Product offeringCore offering
The Africa Group is a boutique advisory and venture capital firm that provides customized consulting teams for client engagements focused on economic growth and investment across Africa. The firm also deploys growth equity capital into African ventures (notably a 25% stake in Telemed Medical Services/Hello Doctor) and supports portfolio companies with technical assistance in governance and compliance.
Product overview
The Africa Group is a boutique advisory and venture capital firm offering investment advisory and financing services. The firm operates through two main activities: advisory services focused on economic growth across Africa, and venture capital investments in African companies. Their portfolio includes The Africa Group Fellowship (an academic scholarship program) and strategic investments in African startups. Their notable investment in Telemed Medical Services provides exposure to Ethiopia's healthcare technology sector through the Hello Doctor m-health platform.
Differentiator
Problem solved
Functional benefit
Products and services
- The Africa Group Advisory Services Boutique advisory services focused on economic growth and investment across Africa. Engagements are customized with teams assembled per client need, emphasizing rapid mobilization, fact-based rigor, and proprietary intelligence. Target clients include African businesses, governments, and investors seeking market entry strategy, investment structuring, and economic growth advisory.
- The Africa Group Venture Capital Investments Growth equity investments in early-stage African ventures, combined with technical assistance in governance and compliance for portfolio companies. Noteworthy investment includes a 25% stake in Telemed Medical Services, developer of Ethiopia's Hello Doctor m-health platform.
- The Africa Group Fellowship Fellowship program established in 2010 to assist select African students in completing their studies at Georgetown University's School of Foreign Service, supporting the firm's commitment to developing African talent.
Quantifiable outcome
- Hello Doctor platform launched as first and only m-health facility in Ethiopia providing phone consultations, ambulance dispatch, and homecare via short code
Companies that use The Africa Group
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles2 records
The Africa Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
The Africa Group partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- BelCash Technology Solutions PLCcoreBelCash Technology Solutions PLC, a leading technology platform provider in Ethiopia, signed an exclusive agreement with Telemed to develop and launch Hello Doctor, the m-health platform providing phone consultations, ambulance dispatch, and homecare services via short code.
- Doctor on DemandminorDoctor on Demand, a California-based telemedicine company launched around the same time as Hello Doctor, represents a similar business model that Telemed's Hello Doctor platform follows in the Ethiopian context.
- Georgetown University School of Foreign ServiceminorThe Africa Group established The Africa Group Fellowship in 2010 to assist select African students in completing their studies at Georgetown University's School of Foreign Service, demonstrating commitment to developing African talent.
Scale indicators3 records
Recent moves5 records
Expansion highlights5 records
The Africa Group competitors and assessment
Company assessmentDirect peers
- Genesis Analytics: Pan-African advisory and consulting firm providing strategy, economic development, and policy advice across the continent. Comparable to TAG's advisory arm because both serve African businesses, governments, and development institutions with similar boutique consulting mandates.
- Helios Investment Partners: Pan-African private equity firm investing across multiple sectors and geographies in Africa. Highly comparable to TAG because both operate Africa-focused capital allocation plus strategic advisory, targeting similar growth-stage companies and institutional capital partners.
- Novastar Ventures: Africa-focused venture capital firm investing in early- and growth-stage businesses serving East and West African consumers. Comparable to TAG because both pursue Africa venture investment with a development-oriented lens and similar geographic concentration.
- Partech Partners: Global venture capital firm with a dedicated Africa fund backing African tech-enabled startups at seed and growth stages. Comparable to TAG because both provide capital plus strategic value-add to African growth-stage ventures.
- TLcom Capital: Africa-focused venture capital firm backing tech-enabled businesses across the continent. Comparable to TAG's VC arm because both deploy growth equity into African startups, including in markets like Ethiopia and Nigeria, and provide operational support to portfolio founders.
- Actis: Emerging-markets private equity firm with a major Africa practice investing in growth-stage ventures and providing strategic guidance. Directly comparable to TAG's growth-equity plus advisory model targeting African economic development.
Broad incumbents
- McKinsey & Company: Global management consulting firm with a dedicated Africa practice serving governments, multilaterals, and corporates on economic growth strategy. Comparable to TAG because both compete for African economic-growth advisory mandates, but McKinsey operates at vastly larger scale and is not Africa-specialist.
- Bain & Company: Global management consulting firm serving corporates and investors on strategy and transactions, with active engagement in African private equity due diligence and growth strategy. Comparable to TAG because both compete for corporate strategy and investor advisory mandates, though Bain is not Africa-specialist.
Regional players
- CardinalStone Capital Advisors: West African investment advisory and asset management firm headquartered in Lagos with presence across Nigeria and Ghana. Comparable to TAG because both provide investment advisory and capital advisory services to African corporates and institutions, though CardinalStone's footprint is more concentrated in Anglophone West Africa.
Emerging players
- Acumen: Impact investment fund backing early-stage social enterprises across East and West Africa in health, energy, and agriculture. Comparable to TAG's Telemed investment because both deploy catalytic capital into African health-tech platforms and partner with USAID/DFID-aligned development funders.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights7 records
Customer concentration
The Africa Group social profiles
Digital presenceThe Africa Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Africa Group leadership team
Management profileNumber of profiles
Profiles2 records
The Africa Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Africa Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Africa Group
What does The Africa Group do?
The Africa Group is a boutique advisory and venture capital firm that provides customized consulting teams for client engagements focused on economic growth and investment across Africa. The firm also deploys growth equity capital into African ventures (notably a 25% stake in Telemed Medical Services/Hello Doctor) and supports portfolio companies with technical assistance in governance and compliance.
Is The Africa Group a public or private company?
The Africa Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was The Africa Group founded?
The Africa Group was founded in 2009. It employs 11 to 50 people.
Where is The Africa Group based?
The Africa Group is headquartered in Chicago, United States, in the North America region.
How does The Africa Group make money?
Two revenue lines are on record. Advisory Services are the primary driver. The others are venture Capital Investment Returns.
Who are The Africa Group's main competitors?
Direct peers on record are Genesis Analytics, Helios Investment Partners, Novastar Ventures, Partech Partners, TLcom Capital and Actis. Broad incumbents are McKinsey & Company and Bain & Company. CardinalStone Capital Advisors is listed as a regional player. Acumen is listed as an emerging player.
Does The Africa Group have an API?
No public API is recorded for The Africa Group.
What industry is The Africa Group in?
The Africa Group's product category is Boutique Advisory and Venture Capital. Its primary akta.pro industry code is BPAHACAA, Strategy & Corporate Development Consulting, with a secondary code of FSANAHAM, Corporate International / Emerging Markets CVC. Its NAICS code is 54161 and its SIC code is 8742.