Europe is kind of fragmented. Africa is nascent; we've made a few investments, including four in Egypt. I visit 50-60 cities and 20-25 countries a year. The intent is to be a global fund, which takes time and prioritization.

Most firms do two investments a year. They may talk to between 50 and 100 and do a couple, whereas we're talking to thousands and doing several hundred.

The earlier you invest, the higher that attrition rate is because it's compounded. We have a more scientific method of investment.

Dave McClure Quotes