5 months ago we posted: What sets elephants apart is that they can grow to be huge, that they grow steadily and rather quickly, and that most of all, while they have the mystique like a unicorn, they are real, not mythical.
How fast do our elephants grow?
Above are the actual revenues from four of the largest companies in the Africa Eats portfolio. The eight largest companies are expected to each earn over $1 million in 2021.
Ten others will earn between $100,000 and $999,999. Many of their growth rates look similar, with expectations that most of this group will be above $1 million in annual revenues in 2022 or 2023.
Of course the whole portfolio isn’t flawless. We work in food/ag and thus deal with floods and droughts along with the plethora of issues that have come along with the pandemic.
But as a whole, revenues continue to climb at a rate that more than doubles every 18-24 months. And in aggregate, revenues for the whole portfolio reached $12 million for for the first three quarters of 2021, on track to grow more than 50% year over year from 2020, more than double the aggregate in 2019.