Abel Kipkorir Boreto is an Investment Associate at Novastar Ventures, a leading Nairobi-based venture capital manager dedicated to finding and supporting the next generation of exceptional entrepreneurs that design and execute innovative business models to profitably serve Africa’s mass markets. Abel is passionate about entrepreneurship in Africa and hopes to play his part in transforming the African startup ecosystem through his current investment role.
“ If you have a passion, pursue it. If there are opportunities knocking on your door, grab them. These days, I grab all opportunities I get.”
Abel is the second of five children, born to an agricultural family in rural Nandi County. At the tender age of seven, his parents enrolled him at a boarding primary school. The experience immensely shaped his life by inculcating self-discipline, independence, resilience and academic curiosity. Throughout his primary school life, he was a high achieving pupil and was ranked the top K.C.P.E. pupil in Nandi District in 2001. This paved the way for him to join one of the top high schools in Kenya, Moi High School - Kabarak.
At Kabarak, Abel was consistently ranked among the top students at the school. In 2005, he was ranked the 14th best K.C.S.E. student in Kenya, an outstanding academic feat that secured him a place in KenSAP’s third cohort in 2006 and a place at Harvard College in 2007. At Harvard, Abel interacted with and learned from distinguished professors and brilliant students from around the world. Importantly, Abel immersed himself into the African student community and took up leadership roles (Secretary and Vice President) in the Harvard African Student Association (HASA). It’s at HASA-organized events where Abel had some of the most passionate and intellectually captivating conversations in college.
“ In 2005, he was ranked the 14th best K.C.S.E. student in Kenya, an outstanding academic feat that secured him a place in KenSAP’s third cohort in 2006 and a place at Harvard College in 2007. ”
After graduating in May 2011, Abel joined Bloomberg L.P., where he worked as a Credit Research Analyst for 2.5 years. While working at Bloomberg, Abel teamed up with Kipyegon Kitur, KenSAP ‘04, to start Sarora Dairies Ltd, a milk processing and vending business which provided reliable market access to smallholder farmers in Nandi and Uasin Gishu counties. Abel’s initial idea to start Sarora emanated from an intriguing class he took in his sophomore year. The class, taught by renowned Political Science Professor Robert Bates, covered topics on the political economy of development in rural Africa and specifically the politics of agricultural development and food supply. The topics resonated with his rural agricultural upbringing and got him interested in finding solutions to the politically-inflicted problems afflicting rural smallholder farmers in Africa.
“While working at Bloomberg, Abel teamed up with Kipyegon Kitur, KenSAP ‘04, to start Sarora Dairies Ltd, a milk processing and vending business which provided reliable market access to smallholder farmers in Nandi and Uasin Gishu counties.”
In 2014, Abel left Bloomberg and moved to Kenya to operationalize his Sarora dream. “I had never been a risk-taker in my life. I always imagined a straight-forward professional career. However, against my reticent nature and strong suggestions and inclinations from family and friends, I decided to quit my job at Bloomberg to relocate to Kenya to become a full-time entrepreneur. I had a mental block to all the unsolicited advice against my decision. I felt that "they didn't understand" because they were old or didn’t know what they were talking about.”
Through Sarora Dairies, Abel gained invaluable knowledge and experience that have proven critical in his current role as an Investment Associate at Novastar Ventures. He consistently shares his stories of the entrepreneurship rollercoaster ride with aspiring entrepreneurs - the mishaps, the lucky breaks and the lessons learnt. In addition, Abel is on a team of professionals developing Kikao64, a flexible co-working space in Eldoret aimed at nurturing the entrepreneurial ecosystem in the town by offering discounted working spaces to entrepreneurs, students, athletes and start-ups.
The biggest takeaway from Abel’s entrepreneurial journey in Kenya is that we should not be afraid to take risks and we should take advantage of opportunities when they present themselves. “If you have a passion, pursue it. If there are opportunities knocking on your door, grab them. These days, I grab all opportunities I get. I pull all the strings and all connections I got.” Whether you are looking to be an entrepreneur yourself or working to support entrepreneurs, Abel’s story is one to inspire us all.