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Top 50 Consumer Startup Investors in Africa (June 2026)

The most active venture capital funds and angel investors investing in Africa Consumer startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Africa Consumer startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Future Africa
VC Fund
6 Nigeria, United States, Kenya Seed, Pre-Seed, Series A Financial Services, FinTech, Information Technology $100k–$20M
Golden Palm Investments
VC Fund
5 Nigeria, Egypt, Kenya Seed, Series A, Pre-Seed Information Technology, FinTech, Payments $30k–$15M
Savannah Fund
VC Fund
4 Kenya, United States, South Africa Seed, Series A, Pre-Seed E-Commerce, FinTech, Software $25k–$8M
4Di Capital
VC Fund
4 South Africa, United States, Kenya Seed, Series A, Pre-Seed Software, Financial Services, Mobile $441k–$47M
Ventures Platform
VC Fund
4 Nigeria, United States, Kenya Seed, Pre-Seed Financial Services, FinTech, Internet $100k–$4.4M
FJ Labs
VC Fund
4 United States, Brazil, United Kingdom Seed, Series A, Series B Software, E-Commerce, Financial Services $1.4M–$65M
4DX Ventures
VC Fund
4 Egypt, United States, South Africa Seed, Series A, Pre-Seed FinTech, Financial Services, Logistics $50k–$40M
U.S. International Development Finance Corp
VC Fund
3 India, United States, Kenya Debt Financing, Post-IPO Debt Financial Services, Finance, Banking $5M–$500M
Village Global
VC Fund
3 United States, United Kingdom, India Seed, Pre-Seed, Series A Software, Artificial Intelligence, Financial Services $500k–$23M
JAM Fund
VC Fund
3 United States, Mexico, India Seed, Series A E-Commerce, FinTech, Software $2M–$47M
Justin Mateen
Angel
3 United States, Mexico, United Kingdom Seed, Series A, Pre-Seed Software, E-Commerce, Health Care $400k–$26M
Mercy Corps Ventures
VC Fund
3 Kenya, United States, Nigeria Seed, Pre-Seed, Series A Financial Services, FinTech, Agriculture $100k–$35M
Aruwa Capital
VC Fund
3 Nigeria, United States, France Seed, Series A Retail, FinTech, Big Data $100k–$20M
Goodwell Investments
VC Fund
3 Nigeria, South Africa, Kenya Series A, Series B FinTech, Financial Services, Banking $1.6M–$26M
Musha Ventures
VC Fund
3 United States, Nigeria, Kenya Seed, Pre-Seed, Series A Software, Financial Services, FinTech $125k–$10M
Cem Garih
Angel
3 United States, India, Kenya Seed, Series A, Pre-Seed Financial Services, FinTech, Internet $460k–$38M
Voltron Capital
VC Fund
2 Nigeria, United States, Kenya Pre-Seed, Seed, Angel Financial Services, FinTech, Payments $115k–$6.5M
Chui Ventures
VC Fund
2 Kenya, United States Pre-Seed Fashion, Software, E-Commerce
Persistent
VC Fund
2 Ghana, Germany, Switzerland Seed, Series A Energy, Solar, Renewable Energy
Kevin Ambrosini
Angel
2 United States, Egypt, Kenya Seed, Series B, Series A E-Commerce, Logistics, Supply Chain Management
Samata Capital
VC Fund
2 Kenya, Nigeria Seed, Series A Beauty, Retail, Consumer $1M–$1.4M
DOB Equity
VC Fund
2 Kenya, Rwanda, Tanzania Private Equity, Seed Food and Beverage, Farming, Health Care
Pearl Capital Partners
VC Fund
2 Uganda, Kenya, Malawi Private Equity, Debt Financing, Seed Agriculture, Farming, Food Processing
Launch Africa
VC Fund
2 Nigeria, South Africa, Kenya Seed, Pre-Seed Financial Services, FinTech, Information Technology
Blue Haven Initiative
VC Fund
2 Kenya, United States, Ghana Series A, Series B, Seed Solar, Energy, Health Care $2M–$22M
Renew Capital
VC Fund
2 Uganda, Kenya, Ethiopia Pre-Seed, Seed Mobile Apps, Financial Services, Finance
FirstCheck Africa
VC Fund
2 Kenya, Nigeria, United States Pre-Seed, Seed Consumer, Payments, Financial Services $100k–$4.5M
igniteXL Ventures
VC Fund
2 United States, South Korea, Kenya Seed, Pre-Seed Beauty, Fashion, Software $226k–$8.1M
216 Capital
VC Fund
2 Tunisia, France, United States Seed, Pre-Seed, Angel SaaS, B2B, Software
Golden Ventures
VC Fund
2 Canada, United States, United Kingdom Seed, Series A, Series B Software, Artificial Intelligence, Information Technology $1.5M–$47M
SunFunder
VC Fund
2 The Netherlands, Kenya, Mauritius Debt Financing, Series C Solar, Energy, Renewable Energy $1.5M–$60M
At One Ventures
VC Fund
2 United States, United Kingdom, Canada Seed, Series A, Series B Energy, Manufacturing, Agriculture $2.9M–$70M
Accion Ventures
VC Fund
2 India, United States, Mexico Seed, Series A, Series B Financial Services, FinTech, Finance $500k–$33M
AfricInvest
VC Fund
2 Tunisia, Kenya, Morocco Private Equity, Series A Financial Services, Manufacturing, FinTech $6.5M–$65M
Vumela Fund
VC Fund
2 South Africa, Brazil Seed, Debt Financing Education, Software, E-Commerce $600k–$1.4M
Novastar Ventures
VC Fund
2 Kenya, Nigeria, United Kingdom Series A, Series B Agriculture, Health Care, Internet $1.7M–$42M
Susa Ventures
VC Fund
2 United States, Canada, United Kingdom Seed, Series A, Series B Software, Information Technology, Health Care $2M–$70M
KFW DEG
VC Fund
2 India, Kenya, United States Debt Financing, Grant Financial Services, Energy, FinTech $100k–$570M
Left Lane Capital
VC Fund
2 United States, Germany, Canada Series A, Series B, Seed FinTech, Financial Services, Software $2.5M–$100M
GreenTec Capital Partners
VC Fund
2 Kenya, Nigeria, Morocco Seed, Pre-Seed Information Technology, Retail, Computer $50k–$1M
Patricia Ithau
Angel
2 Kenya Seed, Pre-Seed Beauty, Retail, Fashion
Lynett Capital
VC Fund
2 United States, Kenya, Nigeria Seed, Series A, Pre-Seed FinTech, SaaS, Mobile $120k–$49M
Olugbenga Agboola
Angel
2 Nigeria, Kenya, United States Pre-Seed, Seed, Series A FinTech, Financial Services, Finance $625k–$7.5M
International Finance Corporation
VC Fund
2 India, Brazil, United States Debt Financing, Series B Financial Services, Finance, FinTech $6M–$400M
MNF Ventures
VC Fund
2 Morocco, France, Canada Seed, Series A, Pre-Seed Online Portals, FinTech, Enterprise Software $200k–$1.6M
F6 Ventures
VC Fund
2 Tunisia, France Pre-Seed, Seed E-Commerce, Retail, FinTech $65k–$200k
Speedinvest
VC Fund
2 United Kingdom, Germany, Austria Seed, Series A, Pre-Seed Software, FinTech, Financial Services $549k–$38M
Microtraction
VC Fund
2 Nigeria, United States, Ghana Pre-Seed, Seed, Angel Financial Services, FinTech, Software $25k–$1.3M
TBD Angels
VC Fund
2 United States, Kenya, Hong Kong Seed, Pre-Seed, Angel Software, Health Care, Artificial Intelligence $54k–$6M
Lion’s Head Global Partners
VC Fund
2 Kenya, France, Senegal Debt Financing Renewable Energy, Solar, Energy $2.2M–$11M
Access all 50 investors in Africa Consumer startups.

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Future Africa
VC Fund · San Francisco, California, United States · 6 investments in Africa Consumer startups

Future Africa is a collective of mission-driven founders and funders building unicorns to solve Africa’s biggest challenges. They are build a future where purpose and prosperity are within everyone’s reach.

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Investment focus

  • Industry: Financial Services, FinTech, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Nigeria, United States, Kenya

Investor stats

  • Total investments: 88
  • Round size: Seed $500k–$4M; Pre-Seed $100k–$3.7M; Series A $7M–$20M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Edves — Edves automates the brick and mortal School operations from Student enrollment, Fee Collection, Lesson Note up to Transcript Generation.
  • Releaf Earth — We are industrializing food processing in Africa. We've led 1000+ smallholder farmers to provide food factories with >7.5 million kilograms of quality crops.
  • Nexford University — Transform your career with affordable, flexible degrees and job skills designed for today's workforce. Skip debt and learn at your own pace with Nexford.
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Golden Palm Investments
VC Fund · Accra, Greater Accra, Ghana · 5 investments in Africa Consumer startups

Golden Palm Investments is an investment holding and advisory company.

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Investment focus

  • Industry: Information Technology, FinTech, Payments
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Nigeria, Egypt, Kenya

Investor stats

  • Total investments: 56
  • Round size: Seed $1.8M–$6M; Pre-Seed $30k–$6.5M; Series A $2M–$15M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — last raise in 2014

Portfolio highlights

  • ILLA — ILLA Trucking for Logistics Solutions & Distribution
  • Maplerad — Maplerad is a fast, safe and easy way to send and receive money with friends, family or others you trust. You can receive and send money directly into any Nigerian bank account in minutes using Bitcoin, US Dollars, and Naira.
  • Jetstream Africa — Jetstream monitors inventory and goods-in-transit for trade creditors and banks.
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Savannah Fund
VC Fund · Nairobi, Nairobi Area, Kenya · 4 investments in Africa Consumer startups

Savannah Fund is a seed capital fund specializing in US$25,000-US$500,000 investments in early stage high growth technology (web and mobile) startups in sub-Saharan Africa. Initially focused on East Africa, the fund aims to bridge the early stage/angel and venture capital investment gap that currently exists in Africa. The Fund expects toachieve this objective by combining capital with mentor networks both in the region and from Silicon Valley via an accelerator program and a follow-on independent seed fund.The fund is managed by an experienced and technology savvy team that have founded companies or are actively involved in angel investing or having run successful accelerator programs in past but also understand the unique Subsaharan African environment. They are backed and supported by both local, regional and international networks of angels,venture capitalists whose expertise we can draw on to help startups succeed and scale to fully fledged regional or global companies.They believe in the potential for Africa to become a global technology innovator by creating sustainable for profit companies that create jobs and make an impact.

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Investment focus

  • Industry: E-Commerce, FinTech, Software
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Kenya, United States, South Africa

Investor stats

  • Total investments: 38
  • Round size: Seed $25k–$3M; Pre-Seed $200k–$2.1M; Series A $750k–$8M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $25M in 2021

Portfolio highlights

  • Oze — OZÉ brings African small businesses into the digital era. It is an app that makes it easy for businesses to track sales, expenses, and customer information. The data is analyzed to provide tailored recommendations, reports, and business education. If the entrepreneur needs a little extra support, an OZÉ Coach is just a click away. As they are usingOZÉ to manage their business and learn how to run it better, we are learning about them. Using this data and machine learning, we can predict their credit risk and provide them with affordable capital from our banking partners. With over 20,000 registered users, OZÉ is the largest online community of SMEs in Ghana. The most exciting thing is that OZÉ works; 97% of businesses that have used OZE for at least 9 months are growing or profitable or both!
  • Root — Launch digital and embedded insurance solutions with omni-channel distribution.
  • Afropolitan — Afropolitan is building a Network State to unleash the maximum potential of Africans around the world. Are you interested? Join us with your email.
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4Di Capital
VC Fund · Cape Town, NA - South Africa, South Africa · 4 investments in Africa Consumer startups

4Di Capital is an independent seed- and early-stage technology venture capital firm based in Cape Town, South Africa.Nurture capital is the term that best describes 4Di Capitalâ€:tm:s purpose and philosophy.We understand that in the early days of any business, support, mentoring and access to networks is just as important as seed capital.Using tried and tested international venture capital best practices, adapted for local use, we believe in entrepreneur-friendly finance without frills, and in working as a team with our investments to achieve their true potential.4Di Capital Early-Stage Technology Fund 1 targets startup investment opportunities with high growth potential at the seed- and early-stages in the mobile, enterprise software and web sectors.We look for founder teams with hungry passion, commitment, domain expertise and deep insights into the large market problems they wish to solve with their technology solutions.

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Investment focus

  • Industry: Software, Financial Services, Mobile
  • Stage:Seed, Series A, Pre-Seed
  • Geography: South Africa, United States, Kenya

Investor stats

  • Total investments: 41
  • Round size: Seed $441k–$7.3M; Pre-Seed $3M–$4M; Series A $2M–$47M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Lumkani — AFFORDABLE ALARM SYSTEMS & INSURANCE FOR YOUR HOME OR BUSINESS Whether you are in a township, informal settlement, or suburb, we have the right protection for you. AFFORDABLE ALARM SYSTEMS & INSURANCE FOR YOUR HOME OR BUSINESS Whether you are in a township, informal settlement, or suburb ...
  • Investsure — InvestSure is a technology company that uses its software to enable partner investment platforms to sell its unique Investment Indemnity (insurance) product to their clients. InvestSure provides a full set of APIs that trading platform developers can use to integrate the Investure Investment Indemnity product seamlessly and easily into theirwebsites and mobile applications. Once InvestSure technology is added to a trading platform, it enables users to buy insurance on their shares with a single click. The full process from buying to insurance to settling claims is fully automated.The Investment Indemnity product itself is a unique innovation; it is designed to protect to protect shareholders against any losses in share value caused by actual or perceived fraud committed by management. This enables investors to secure their investments. The cost of the product is low enough to not significantly reduce returns of investors where no insurance event occurs, but to provide significant downside protection where an insured event does occur.
  • CompariSure — Custom, built-for-purpose service and sales chatbot solutions for financial services providers.
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Ventures Platform
VC Fund · Abuja, Federal Capital Territory, Nigeria · 4 investments in Africa Consumer startups

We back founders building the future of Africa. We invest in companies that solve for non-consumption, plug infrastructural gaps and democratise prosperity in Africa, by eliminating the barriers for access and reducing the costs of delivering goods and services.

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Investment focus

  • Industry: Financial Services, FinTech, Internet
  • Stage:Seed, Pre-Seed
  • Geography: Nigeria, United States, Kenya

Investor stats

  • Total investments: 143
  • Round size: Seed $325k–$4.4M; Pre-Seed $100k–$1.3M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • MDaaS Global — At MDaaS Global, we build and operate modern, tech-enabled diagnostic centres in clinically-underserved communities, starting in Nigeria. Our big goal is to create affordable healthcare solutions for Africa's next billion.
  • Brass — Get started with a modern current account
  • LemFi — Send money to India, China, Pakistan, Nigeria, Ghana, Kenya and 30 other countries. Receive and manage your money without stress
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FJ Labs
VC Fund · New York, New York, United States · 4 investments in Africa Consumer startups

FJ Labs is a stage-agnostic investment firm that focuses on marketplaces and consumer facing startups.

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Investment focus

  • Industry: Software, E-Commerce, Financial Services
  • Stage:Seed, Series A, Series B
  • Geography: United States, Brazil, United Kingdom

Investor stats

  • Total investments: 898
  • Round size: Seed $1.4M–$10M; Series A $4.4M–$30M; Series B $12M–$65M
  • Lead/follow: 3% lead, 97% follow
  • Last fund: May invest from a new fund soon — raised $5.5M in 2016

Portfolio highlights

  • Fresha — Find the best salons and spa in your area with Fresha salon booking software. Book now!
  • Metaloop — Metaloop is a scrap trading company that helps businesses from the metal recycling industry to boost revenue without scaling.
  • POC Pharma — POC Pharma is a SaaS company helping the stakeholders in the Pharmacy Channel to digitally manage their go to market strategy.
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4DX Ventures
VC Fund · Brooklyn, New York, United States · 4 investments in Africa Consumer startups

4DX Ventures is a Pan-Africa Focused Venture Capital Firm. Our mission is to connect people, ideas, and capital to create a vibrant African community.

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Investment focus

  • Industry: FinTech, Financial Services, Logistics
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Egypt, United States, South Africa

Investor stats

  • Total investments: 79
  • Round size: Seed $500k–$6.4M; Pre-Seed $50k–$6.5M; Series A $6.6M–$40M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — raised $60M in 2021

Portfolio highlights

  • HoneyCoin — HoneyCoin is a web3/web2 ecosystem of products built in a way that abstracts complexity and brings all the value of web3 and web2 to the forefront.
  • Aether Bio — Aether uses its state of the art platform to rapidly engineer enzymes, enabling our customers to manufacture complex and novel products at fractional cost.
  • Franc — Franc is the easiest way to save & invest. Our app doesn’t require any investment knowledge & our friendly risk quiz helps us understand how much investment risk is right for you. Users can start investing in less than 2 minutes. There is no minimum requirement & no paperwork. It is a seamless digital experience end-to-end. A usersimply chooses a goal, selects an investment strategy, verifies their identity & makes a deposit. Each user is recommended a personalised investment strategy for each investment goal, combining money market & index tracking ETFs. Our helpful calculators assist clients with their budgeting, retirement & targeted savings needs. We also provide free access to our online academy & fun financial literacy quizzes.We know saving is hard & investing can be scary, which is why we create savings groups & challenges so that users can encourage one another. We also run weekly competitions where users can stand a chance to win a cash prize that will boost their investments.
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U.S. International Development Finance Corp
VC Fund · Washington, District of Columbia, United States · 3 investments in Africa Consumer startups

U.S. International Development Finance Corp is America’s development bank.

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Investment focus

  • Industry: Financial Services, Finance, Banking
  • Stage:Debt Financing, Post-IPO Debt
  • Geography: India, United States, Kenya

Investor stats

  • Total investments: 96
  • Round size: Post-IPO Debt $33M–$500M; Debt Financing $5M–$468M
  • Lead/follow: 74% lead, 26% follow
  • Last fund: Likely still investing — raised $300M in 2024

Portfolio highlights

  • Kodak — A global technology company providing industry-leading products and services for commercial print, packaging, publishing, manufacturing and entertainment.
  • Bayport Management — Bayport Management Limited, through its subsidiaries, provides retail financial services in the Republic of Mauritius and internationally.
  • Freshtohome — Freshtohome is an online grocery store that sells a range of seafood and meat to its users.The website’s range of products include fish, poultry, mutton, steaks, and fillet. Fish consists of shell, freshwater, and marine. Furthermore, it enables suppliers to supply their seafood and meat to the website.Freshtohome was launched in 2015 by ShanKadavil and is based in Bangalore.
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Village Global
VC Fund · San Francisco, California, United States · 3 investments in Africa Consumer startups

Early stage venture capital backed by some of the world's best entrepreneurs.

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Investment focus

  • Industry: Software, Artificial Intelligence, Financial Services
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, United Kingdom, India

Investor stats

  • Total investments: 315
  • Round size: Seed $1.9M–$11M; Pre-Seed $500k–$3.5M; Series A $8M–$23M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $125M in 2021

Portfolio highlights

  • Mesh — Business entity identity verification radically simple, trusted, and portable, ensuring seamless interactions in the B2B Ecommerce, Marketplaces, Real Estate Technology, Construction | Mesh.
  • VeriSIM Life — Make confident decisions about drug development, quickly and efficiently, using a decision-engine that takes your toughest translational questions and generate actionable insights to guide your next steps.
  • Forethought — Leverage human-centered AI to transform your customer service experience. Resolve cases faster, predict and prioritize tickets, and assist support agents.
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JAM Fund
VC Fund · Las Vegas, Nevada, United States · 3 investments in Africa Consumer startups

JAM Fund operates as a venture capital firm investing in visionary founders disrupting large spaces. It is Tinder Founder Justin Mateen's venture capital firm.

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Investment focus

  • Industry: E-Commerce, FinTech, Software
  • Stage:Seed, Series A
  • Geography: United States, Mexico, India

Investor stats

  • Total investments: 117
  • Round size: Seed $2M–$10M; Series A $10M–$47M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • Whop — Create a business or unlock new streams of income.
  • Fun — Fun offers the highest converting rails to execute blockchain actions. Optimize your funding rails, reach new customers, and reduce costs.
  • Last Energy — Last Energy is creating a new system for the development and delivery of small modular nuclear power plants. Combining proven reactor technology with a first-of-its-kind delivery model and fully modular plant design, Last Energy aims to decarbonize energy production and increase access to clean, affordable power.
Show all investments...

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
Justin Mateen
Angel · Los Angeles, California, United States · 3 investments in Africa Consumer startups

Justin Mateen is the Cofounder and former CMO of Tinder, the world's largest dating platform. In 2021, and 2022 Business Insider ranked Mateen as the best early stage investor in the US, placing him at the number 1 spot on the top 100 list of US Seed Investors both years. In 2020, Forbes included Mateen on their list of the decade's top10 tech entrepreneurs. Fast Company has listed him as one of the most creative people in business.Founded in 2012, Tinder is the highest grossing app on Apple's app store since 2017 and was valued at over $40 Billion dollars in 2021.

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Investment focus

  • Industry: Software, E-Commerce, Health Care
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Mexico, United Kingdom

Investor stats

  • Total investments: 144
  • Round size: Seed $1M–$9.5M; Pre-Seed $400k–$3.9M; Series A $6.8M–$26M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • Whop — Create a business or unlock new streams of income.
  • Slash — Tens of thousands of online businesses use Slash to track their profits, earn cash back, and get faster payouts from platforms like GOAT and Amazon. No LLC required, no account fees, no minimum balance, and no credit checks.
  • Somethings — Somethings connects teens with a Certified Peer Specialist Mentor who provide a safe, trustworthy space to feel their best and combat loneliness.
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Mercy Corps Ventures
VC Fund · Portland, Oregon, United States · 3 investments in Africa Consumer startups

Mercy Corps Ventures invests in and catalyzes venture-led solutions to increase the resilience of underserved individuals and communities. Founded in 2015 as the impact investing arm of global development agency, Mercy Corps, supports over 57 early-stage ventures to scale and raise over $515 million in follow-on capital. Their portfolio centersaround resilience-building solutions in adaptive agriculture and food systems, inclusive climate fintech, and climate-smart technologies so that those living in frontier markets can withstand disruption and plan for the future. Through capital and support, piloting new approaches, action-oriented insights, and rigorously managing impact, they catalyze the ecosystem toward smarter, more impactful investments.

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Investment focus

  • Industry: Financial Services, FinTech, Agriculture
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Kenya, United States, Nigeria

Investor stats

  • Total investments: 69
  • Round size: Seed $330k–$5.3M; Pre-Seed $100k–$7M; Series A $2.5M–$35M
  • Lead/follow: 16% lead, 84% follow

Portfolio highlights

  • Agruppa — Agruppa leverages mobile phone technology to empower small food vendors in low income neighborhoods by providing them with fruits and vegetables at wholesale prices.
  • Meridia — De-risk the sourcing, procurement, trading & compliance of commodities under the EUDR.
  • PowerLabs — PowerLabs is an energy and climate technology research and implementation company whose goal is to use intelligent energy to build a world where human output is boundless.
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Aruwa Capital
VC Fund · Lagos, Lagos, Nigeria · 3 investments in Africa Consumer startups

Aruwa Capital Management is a Lagos-based, female-founded and led growth equity impact fund.

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Investment focus

  • Industry: Retail, FinTech, Big Data
  • Stage:Seed, Series A
  • Geography: Nigeria, United States, France

Investor stats

  • Total investments: 20
  • Round size: Seed $100k–$3M; Series A $11M–$20M
  • Lead/follow: 80% lead, 20% follow
  • Last fund: Likely still investing — raised $20M in 2022

Portfolio highlights

  • AgroEknor — AgroEknor provides agricultural research, integration, technology based optimization & global delivery of the agro superfoods.
  • Fastizers — Fastizers Food and Confectionery Limited is a newly formed food production firm in Nigeria that has been approved by the National Agency for Food and Drug Administration and Control (NAFDAC).
  • OmniRetail — OmniRetail is a consumer goods distribution platform that solves the inefficiencies of traditional trade by digitizing key stakeholders through its products.
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Goodwell Investments
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 3 investments in Africa Consumer startups

Goodwell Investments is a pioneering investment firm focused on financial inclusion, fintech and inclusive growth in sectors providing

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Investment focus

  • Industry: FinTech, Financial Services, Banking
  • Stage:Series A, Series B
  • Geography: Nigeria, South Africa, Kenya

Investor stats

  • Total investments: 47
  • Round size: Series A $1.6M–$12M; Series B $2M–$26M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • OmniRetail — OmniRetail is a consumer goods distribution platform that solves the inefficiencies of traditional trade by digitizing key stakeholders through its products.
  • Hinckley Recycling — Hinckley Recycling is dedicated to the responsibility of being a good steward of the environment and will in all circumstances aspire to constantly emphasize awareness of the natural environment, whilst maintaining a level of proficiency which demonstrates bona fide leadership in all spheres of the environment.
  • Agent Banking Company — Agent Banking Company provides digital technology solutions that enable access to banking services through bank-approved agents.
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Musha Ventures
VC Fund · New York, New York, United States · 3 investments in Africa Consumer startups

Seed capital for technology startups globally.

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Investment focus

  • Industry: Software, Financial Services, FinTech
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Nigeria, Kenya

Investor stats

  • Total investments: 140
  • Round size: Seed $125k–$4.9M; Pre-Seed $300k–$3.2M; Series A $2.5M–$10M
  • Lead/follow: 3% lead, 97% follow

Portfolio highlights

  • nGrow.ai — Boost revenue and engagement
  • HoneyCoin — HoneyCoin is a web3/web2 ecosystem of products built in a way that abstracts complexity and brings all the value of web3 and web2 to the forefront.
  • Orca Fraud — Orca empowers fraud fighters with effective tools to combat fraud
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Cem Garih
Angel · London, England, United Kingdom · 3 investments in Africa Consumer startups

Investor

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Investment focus

  • Industry: Financial Services, FinTech, Internet
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, India, Kenya

Investor stats

  • Total investments: 32
  • Round size: Seed $2.5M–$6M; Pre-Seed $460k–$1M; Series A $5M–$38M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • TuMeke Ergonomics — Computer vision joint tracking for ergonomic risk assessments. Automate assessments so you can focus on implementing solutions.
  • Troop — Troop is an app for retail investors to vote, organize shareholder resolutions and activist campaigns. Sign up for early access today.
  • Moment — Engineering the future of fixed income with the world's leading financial institutions.
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Voltron Capital
VC Fund · 2 investments in Africa Consumer startups

On a mission to back the most extraordinary entrepreneurs out of Africa solving important problems in large markets.

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Investment focus

  • Industry: Financial Services, FinTech, Payments
  • Stage:Pre-Seed, Seed, Angel
  • Geography: Nigeria, United States, Kenya

Investor stats

  • Total investments: 29
  • Round size: Seed $1.7M–$4M; Pre-Seed $115k–$6.5M
  • Lead/follow: 3% lead, 97% follow

Portfolio highlights

  • Lengo — Lengo is an AI based intelligence platform that offers a large database on consumer goods for companies in the FMCG sector.
  • Bujeti — Bujeti is the finance control centre for African businesses. Manage expenses, automate payments, and issue corporate cards for total control and visibility.
  • Maad — Maad is Francophone Africa's fastest-growing B2B marketplace, based in Dakar, Senegal. Our tech-driven solution allows retailers to order products from our one-stop shop and benefit from working capital loans
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Chui Ventures
VC Fund · Delaware, Ohio, United States · 2 investments in Africa Consumer startups

Investing in Africa | Chui Ventures is an investment company that seeks to back exceptional African companies at the early stage of their growth.

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Investment focus

  • Industry: Fashion, Software, E-Commerce
  • Stage:Pre-Seed
  • Geography: Kenya, United States

Investor stats

  • Total investments: 5
  • Lead/follow: no public data

Portfolio highlights

  • Shop Zetu — Shop the latest trendy fashion, beauty and accessory brands in Kenya online! Discover affordable clothing, footwear, accessories, beauty products and more. Order today from Shop Zetu.
  • Socium — Socium Job these are companies that recruit and offer real career opportunities to all those who share their values ​​and wish to invest in their development.
  • Uncover — Dermatologist-tested K-Beauty formulas powered by African botanicals for melanin-rich skin. Shop SPF 50 sunscreen, serums & kits with free Kenya shipping.
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Persistent
VC Fund · Zürich, Zurich, Switzerland · 2 investments in Africa Consumer startups

Africa's Climate Venture Builder - We believe in the power of climate-positive economic development in Africa. For the last decade, we have been working hand in hand with exceptional entrepreneurs, investing both financial and human capital to build successful climate ventures on the continent. Our companies offer competitive financial returns required to drive lasting impact.

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Investment focus

  • Industry: Energy, Solar, Renewable Energy
  • Stage:Seed, Series A
  • Geography: Ghana, Germany, Switzerland

Investor stats

  • Total investments: 22
  • Lead/follow: no public data

Portfolio highlights

  • EcoNetix — We help companies reduce emissions, offset with high-integrity carbon projects, and communicate impact transparently to achieve compliance certainty, climate
  • Hohm Energy — We make the process of going solar simple. Generate your free, custom solar proposal and get matched with an accredited solar provider in under 5 mins.
  • Circadian Technologies GmbH — AI-driven VPP unlocking revenue for telecom towers.
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Kevin Ambrosini
Angel · New York, New York, United States · 2 investments in Africa Consumer startups

Kevin Ambrosini is Chief Strategy Officer at Payoneer, a publicly-traded fintech with $80bn volume (+21% year-over-year), $1bn revenue and 28% adj EBITDA margins [2024]. Previously, Kevin was the Head of Global Strategy & GM, North America at Alibaba.com, where he helped take the business from revenue of $800m and 4% annual growth to $3bn and30% annual growth over 4 years. Kevin join Alibaba through its acquisition of OpenSky, where he was Co-founder and CFO. Kevin graduated from the University of California, Berkeley.

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Investment focus

  • Industry: E-Commerce, Logistics, Supply Chain Management
  • Stage:Seed, Series B, Series A
  • Geography: United States, Egypt, Kenya

Investor stats

  • Total investments: 7
  • Lead/follow: no public data

Portfolio highlights

  • MaxAB — The Region's Leading Retailer Super App At MaxAB, we change how the supply chain works through our B2B food & grocery e-commerce platform At MaxAB, we change how the supply chain works through our B2B food
  • buywith — buywith is a video commerce platform enabling retailers and brands to transform their e-commerce into engaging shoppable videos and dynamic video-led experiences, including an AI-powered digital studio for creating video ads for retail media at scale.
  • Taager — Taager is a social e-commerce platform enabling online merchants with end-to-end logistics.
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Samata Capital
VC Fund · 2 investments in Africa Consumer startups

CREATING a More Inclusive Future Samata Capital accelerates equal access to capital and opportunity for talented entrepreneurs in emerging markets. We inten ...

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Investment focus

  • Industry: Beauty, Retail, Consumer
  • Stage:Seed, Series A
  • Geography: Kenya, Nigeria

Investor stats

  • Total investments: 3
  • Round size: Seed $1M–$1.4M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • ReelFruit — On a mission to inspire delightfulness by offering the tastiest snacks in town.
  • Uncover — Dermatologist-tested K-Beauty formulas powered by African botanicals for melanin-rich skin. Shop SPF 50 sunscreen, serums & kits with free Kenya shipping.
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DOB Equity
VC Fund · Veessen, Gelderland, The Netherlands · 2 investments in Africa Consumer startups

DOB Equity is a private equity firm specializing in growth capital and buy-and-build strategies in small and medium companies.

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Investment focus

  • Industry: Food and Beverage, Farming, Health Care
  • Stage:Private Equity, Seed
  • Geography: Kenya, Rwanda, Tanzania

Investor stats

  • Total investments: 41
  • Lead/follow: no public data

Portfolio highlights

  • Kwara — Kwara turns analog credit unions into modern digital banks.
  • Power — Putting individuals on the path towards financial health
  • Eden Care Medical — Eden Care Medical is a mobile application that provides medical and health insurance as well as financial services.
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Pearl Capital Partners
VC Fund · Kampala, Kampala, Uganda · 2 investments in Africa Consumer startups

Pearl Capital Partners is a specialist agriculture investment firm that has been investing in small and medium sized East African agribusinesses since 2005. Pearl Capital Partners investments generate financial returns for our investors while creating significant social impact. Pearl Capital Partners success is derived from working with ambitiousmanagement teams, providing supportive investment structures and specialist expertise that create high-growth agribusinesses.

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Investment focus

  • Industry: Agriculture, Farming, Food Processing
  • Stage:Private Equity, Debt Financing, Seed
  • Geography: Uganda, Kenya, Malawi

Investor stats

  • Total investments: 36
  • Lead/follow: no public data

Portfolio highlights

  • Enimiro — Enimiro is creating an online farming platform in form of a mobile App to connect Ugandan smallholder farmers with local investors to increase harvest while enabling urban people to invest into farming and earn proceeds at just a click of a button.
  • Kamp Feed — Kamp Feed is a food producer of nutritional animal feeds that specializes in pelleted animal feeds.
  • Newman Foods — Newman Foods is an agro-processing company that manufactures, exports, and supplies a comprehensive range of fresh agricultural products. Newman Foods Ltd is a Kampala-based agro-processing company whose primary business is producing and marketing branded consumer foods sold through retail stores in the local and the regional market, as well asaggregation and export of fresh fruits and vegetables (FFV) to the European market.
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Launch Africa
VC Fund · Ebène, Plaines Wilhems, Mauritius · 2 investments in Africa Consumer startups

Launch Africa is a leading Pan-African VC fund solving the significant funding gap in the Seed and pre-Series A investment landscape in Africa

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Investment focus

  • Industry: Financial Services, FinTech, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Nigeria, South Africa, Kenya

Investor stats

  • Total investments: 160
  • Lead/follow: no public data

Portfolio highlights

  • Zazuu — Zazuu is a platform for sending money across the border.
  • Gigmile — Gigmile provides financial services. They provide gig workers with core services and an affordable lease on productive assets that is tailored to their earnings to enable them to succeed in the mobility industry as entrepreneurs.
  • REasy — Top up locally, pay suppliers globally, and manage international shipments with REasy. Fast, secure, and designed for African businesses expanding worldwide.
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Blue Haven Initiative
VC Fund · Cambridge, Massachusetts, United States · 2 investments in Africa Consumer startups

Blue Haven Initiative is an innovative family office dedicated to putting wealth to work for market returns and positive social and environmental change.

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Investment focus

  • Industry: Solar, Energy, Health Care
  • Stage:Series A, Series B, Seed
  • Geography: Kenya, United States, Ghana

Investor stats

  • Total investments: 23
  • Round size: Series A $2M–$11M; Series B $12M–$22M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • M-KOPA — M-KOPA is the global leader for “pay-as-you-go” energy services for off-grid customers. M-KOPA was established in 2011. Following 2 years of piloting and development, M-KOPA began commercial sales in Kenya in October 2012. M-KOPA expanded to Uganda in 2013 and commences operations in Tanzania in late 2014. Their team includes over 500 staff andwe sell our product through more than 1000 retail agents and shops. The founders of the company are experienced mobile technology innovators who believe in the huge potential of transformative, affordable products designed for underserved consumers. While excellent technology is a pre-requisite, technology alone does not solve for customer needs. Success comes when smart technology is combined with a commitment to on-going, on-the-ground delivery. To that end, M-KOPA is beginning to license its technology to experienced and reputable third parties in markets outside of East Africa (licensing queries should be sent to licensing@m-kopa.com). M-KOPA has developed a proprietary, patented technology platform that combines embedded GSM + mobile payments to revolutionize asset financing in emerging markets. The M-KOPAnet platform has been designed and built from the ground up by our talented team of software engineers, who continue to innovate and improve the system every day. It offers the powerful combination of accounting + customer relationship management + inventory tracking in one complete system. Aside from enabling our business operations to scale at record speed, the M-KOPAnet™ platform captures and processes huge volumes of data, enabling us to improve our proposition, customer service, and security in real-time.
  • TIBU Health — TIBU Health is a disruptive HealthTech logistics company that provides high-quality healthcare services.
  • BlueMark — BlueMark is the leading provider of impact intelligence and independent verification for the sustainable and impact investing market.
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Renew Capital
VC Fund · Addis Ababa, Adis Abeba, Ethiopia · 2 investments in Africa Consumer startups, 11 in the past 12 months

Renew Capital is an Africa-focused investment firm that addresses critical gaps for Africa’s growing businesses and connects them to a global network of impact investors.

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Investment focus

  • Industry: Mobile Apps, Financial Services, Finance
  • Stage:Pre-Seed, Seed
  • Geography: Uganda, Kenya, Ethiopia

Investor stats

  • Total investments: 26
  • Lead/follow: no public data

Portfolio highlights

  • Bosso — Bosso projects and realizes automation and robotic solutions for the growth of your business.
  • Chpter — Chpter is a software development company that offers fast billing and checkout to help start, run, and grow a business.
  • Level Africa — Digital Investment Marketplace for Africa
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FirstCheck Africa
VC Fund · Lagos, Lagos, Nigeria · 2 investments in Africa Consumer startups

FirstCheck Africa is an early believer for a generation of African women in tech. We invest early, with high conviction, in high-growth female-led startups with category-leadership potential.

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Investment focus

  • Industry: Consumer, Payments, Financial Services
  • Stage:Pre-Seed, Seed
  • Geography: Kenya, Nigeria, United States

Investor stats

  • Total investments: 9
  • Round size: Seed $1M–$4.5M; Pre-Seed $100k–$3M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Jumba — Jumba is the trusted digital partner for hardware stores. Through tech, we support hardware stores to grow. Get cement at unbeatable prices. Access cement LPOs even at midnight. Get inventory on credit through Jengwa.
  • Uncover — Dermatologist-tested K-Beauty formulas powered by African botanicals for melanin-rich skin. Shop SPF 50 sunscreen, serums & kits with free Kenya shipping.
  • Cleva — For anyone with global financial needs, A US-based dollar account in your name to receive, hold, and save USD.
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igniteXL Ventures
VC Fund · Palo Alto, California, United States · 2 investments in Africa Consumer startups

WELLNESS TO THE WORLD igniteXL Ventures is a global seed fund investing in game-changing founders at the intersection of technology, beauty

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Investment focus

  • Industry: Beauty, Fashion, Software
  • Stage:Seed, Pre-Seed
  • Geography: United States, South Korea, Kenya

Investor stats

  • Total investments: 18
  • Round size: Seed $1M–$8.1M; Pre-Seed $226k–$1.8M
  • Lead/follow: 22% lead, 78% follow
  • Last fund: Likely still investing — raised $10M in 2021

Portfolio highlights

  • buywith — buywith is a video commerce platform enabling retailers and brands to transform their e-commerce into engaging shoppable videos and dynamic video-led experiences, including an AI-powered digital studio for creating video ads for retail media at scale.
  • Maeva — Maeva is a science-backed metabolic wellness brand built for people on GLP-1 medications — and anyone committed to a smarter weight-loss journey. Founded by Steven and Dean Neiger after Steven's own firsthand experience with GLP-1 therapy, Maeva was created to solve a real gap: when you're eating less, your body still needs completenutrition. Muscle loss, energy dips, hair thinning, and digestive discomfort shouldn't be the price of progress. Our Daily Nutrition Shakes — formulated separately for women and men — deliver 20–25g of plant protein, clinically dosed functional ingredients, and zero sugar, dairy, soy, or maltodextrin. Every product in our lineup is made in an NSF-certified, cGMP, FDA-registered U.S. facility and third-party tested for heavy metals and microbial safety. We don't believe in fairy-dust dosing or empty promises. Every ingredient is included at a level that actually works — so you can stay strong, energized, and feeling like yourself while you slim down.
  • Uncover — Dermatologist-tested K-Beauty formulas powered by African botanicals for melanin-rich skin. Shop SPF 50 sunscreen, serums & kits with free Kenya shipping.
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216 Capital
VC Fund · Tunis, Tunis, Tunisia · 2 investments in Africa Consumer startups

Our DNA is rooted in a passionate belief in the potential of Africa, a relentless drive for innovation, and an unwavering commitment to impact. We are not just investors; we are builders of a better future, one investment at a time.

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Investment focus

  • Industry: SaaS, B2B, Software
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Tunisia, France, United States

Investor stats

  • Total investments: 23
  • Lead/follow: no public data

Portfolio highlights

  • Juridoc.tn — Juridoc.tn is an interactive legal document database providing access to Tunisian regulatory texts. It serves as a platform for legal services, offering a comprehensive collection of updated legal documents.
  • Talenteo Inc. — Talenteo is an innovative SaaS solution for HR and payroll management, designed to simplify and automate company processes with an intuitive, AI-powered approach. It empowers SMEs and mid-market companies to streamline employee management, payroll, time tracking, and talent development. Talenteo enhances operational efficiency, minimizesadministrative errors, and enables businesses to focus on growth.
  • ProXalys — BENGKULUTOTO Adalah Platform game online terbaik dan terpercaya di Indonesia. Nikmati pengalaman bermain seru, aman, dengan berbagai pilihan hiburan berkualitas tinggi kapan saja!
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Golden Ventures
VC Fund · Toronto, Ontario, Canada · 2 investments in Africa Consumer startups

Golden Ventures is a leading seed-stage venture capital fund, based in Toronto and investing across North America. We back bold teams and their transformative ideas.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: Canada, United States, United Kingdom

Investor stats

  • Total investments: 183
  • Round size: Seed $1.5M–$7.5M; Series A $5.9M–$32M; Series B $14M–$47M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • Cybrid — The Cybrid software development kit & cloud-based platform can enable you to launch crypto trading within weeks, for minimal fees. Save millions in headcount, legal, and operational costs, compared to building your own platform from scratch.
  • BenchSci — BenchSci is the world leader in AI-Assisted Reagent Selection and Experiment Design. Our preclinical R&D SaaS platform uses machine learning to help pharmaceutical companies increase their research velocity.
  • Shakudo — Shakudo unites all of the data tools and services you need into a single comprehensive data platform, allowing your team to develop and deploy analytics-based solutions with ease.
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822 industries, 177 countries. Updated daily. Emails and phones included.

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SunFunder
VC Fund · Nairobi, Nairobi Area, Kenya · 2 investments in Africa Consumer startups

SunFunder is a specialist financing company dedicated to pioneering and scaling clean energy and climate investments in emerging markets.

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Investment focus

  • Industry: Solar, Energy, Renewable Energy
  • Stage:Debt Financing, Series C
  • Geography: The Netherlands, Kenya, Mauritius

Investor stats

  • Total investments: 19
  • Round size: Series C $20M–$60M; Debt Financing $1.5M–$50M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: May invest from a new fund soon — raised $60M in 2020

Portfolio highlights

  • BioLite — BioLite designs off-grid personal scale energy products for cooking, charging, and lighting. Perfect for camping, fishing, tailgating, power outages, and more.
  • Yellow — Yellow enables a distributed network of sales agents to serve rural households with life-changing products and services through a digital technology platform called Ofeefee.
  • d.light — Founded in 2007 as a for-profit social enterprise, d.light manufactures and distributes award-winning solar lighting and power products designed to serve the more than 2 billion people globally without access to reliable electricity. Through five distribution hubs in East Africa, West Africa, India, Southeast Asia, and the United States, d.lighthas impacted over 65 million lives with its products. d.light is dedicated to providing the most reliable, affordable, and accessible solar lighting and power systems for the developing world, with the goal of reaching 100 million people by 2020. For more information, visit www.dlight.com.
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At One Ventures
VC Fund · San Francisco, California, United States · 2 investments in Africa Consumer startups

At One Ventures finds, funds, and grows teams to catalyze a world where humanity is a net positive to nature.

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Investment focus

  • Industry: Energy, Manufacturing, Agriculture
  • Stage:Seed, Series A, Series B
  • Geography: United States, United Kingdom, Canada

Investor stats

  • Total investments: 71
  • Round size: Seed $2.9M–$15M; Series A $6.6M–$45M; Series B $17M–$70M
  • Lead/follow: 45% lead, 55% follow

Portfolio highlights

  • Relectrify — Unlocking extra lifetime and performance of batteries via advanced battery management (BMS) technology.
  • Inlyte Energy — Inlyte Energy is a company that creates batteries for grid storage. Inlyte Energy's grid battery uses the most abundant commodities - iron and salt - to create an energy storage solution with the unique combination of high efficiency, long lifetime, competitive energy density, and exceptional safety.
  • Blue Energy — Blue Energy is a nuclear power plant company that provides reliable, clean, and abundant electricity.
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Accion Ventures
VC Fund · Washington, District of Columbia, United States · 2 investments in Africa Consumer startups

Accion Ventures is an investment strategy that today pursues early-stage investments as part of Accion Impact Management.

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Investment focus

  • Industry: Financial Services, FinTech, Finance
  • Stage:Seed, Series A, Series B
  • Geography: India, United States, Mexico

Investor stats

  • Total investments: 127
  • Round size: Seed $500k–$6.5M; Series A $2.6M–$33M; Series B $8M–$30M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • Kuunda — Kuunda provides consulting, liquidity management, data insight tools enabling users to fulfill financial needs through a digital platform.
  • Lami — Lami is an end-to-end digital insurance platform and API that enables companies across sectors to offer insurance products. Its API allows underwriters to connect with consumer-facing companies that can provide embedded insurance as a value add for existing customers, many of whom are uninsured.
  • Cashinvoice — Cashinvoice connects supply chain stakeholders and digitises invoice-to-cash processes to unlock working capital trapped within supply chains and accelerate business growth
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AfricInvest
VC Fund · Tunis, Tunis, Tunisia · 2 investments in Africa Consumer startups

AfricInvest was founded in 1994 and is part of Integra Group, an investment and financial services company based in Tunisia.Uniquely positioned as one of the most experienced private equity investors on the continent, AfricInvest has dedicated investment teams focused on North Africa and Sub-Saharan Africa, and employs 66 professionals based inseven offices.AfricInvest manages USD1 billion across 16 funds and benefits from strong, long-term support from both local and international investors, including leading development finance institutions in the United States and Europe.Having co-founded the African Venture Capital Association (AVCA) as well as the Middle East North Africa Private Equity Association (MENAPEA) and the Euromed Capital Forum, the firm is an active promotor of the private equity industry in the region.Since 1994, AfricInvest has invested in 135 companies across 25 African countries in a variety of high growth sectors and maintains a broad network of high quality executives across Africa, offering extensive expertise in key growth industries, including financial services, agribusiness, consumer/retail, education and healthcare.

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Investment focus

  • Industry: Financial Services, Manufacturing, FinTech
  • Stage:Private Equity, Series A
  • Geography: Tunisia, Kenya, Morocco

Investor stats

  • Total investments: 106
  • Round size: Series A $7M–$65M; Private Equity $6.5M–$21M
  • Lead/follow: 64% lead, 36% follow

Portfolio highlights

  • ArabyAds — ArabyAds offers a suite of enterprise-level B2B ecommerce automation platforms that deliver the most promising, responsive and performance-oriented digital advertising technologies.
  • Promamec — Since 1981, Promamec has been producing and distributing medical devices in Morocco: equipment, medical equipment or consumable
  • Aerobotics — Powerful insights for precision growing and crop insurance
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Vumela Fund
VC Fund · Hyde Park, Newtownabbey, United Kingdom · 2 investments in Africa Consumer startups

Vumela was established in 2009 by FNB Business Banking and Edge Growth. The objective was to create an innovative model for the development of a sustainable and a financially and operationally independent investment business which invests in high growth small, medium and micro size enterprises with good economic and impact returns.Vumela wascapitalised in 2010. Within the first four years, we’d invested R90 million into eight high growth SMEs, and created a total of 400 jobs. They launched their second fund in 2015, after a further investment of R100 million from FirstRand and R127 million from the Jobs Fund. Within the first year of launching this second fund, we’ve committed R43 million to five investments that are expected to create over 1800 new jobs.The first fund of its kind in South Africa, Vumela’s main goals are to invest in and develop entrepreneurial companies in order to help alleviate poverty in South Africa by creating jobs, and to generate a return for its beneficiaries: the Shalamuka Foundation and the FirstRand Group.

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Investment focus

  • Industry: Education, Software, E-Commerce
  • Stage:Seed, Debt Financing
  • Geography: South Africa, Brazil

Investor stats

  • Total investments: 20
  • Round size: Seed $600k–$822k; Debt Financing $854k–$1.4M
  • Lead/follow: 80% lead, 20% follow
  • Last fund: May invest from a new fund soon — raised $14M in 2015

Portfolio highlights

  • Rentoza — We champion giving you access, affordability and flexibility to explore tech on your own terms
  • Mia Healthcare
  • ProfitShare Partners — Business funding solutions with ProfitShare Partners. We specialise in Short Term Asset Finance to help empower SMEs.
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Novastar Ventures
VC Fund · Nairobi, Nairobi Area, Kenya · 2 investments in Africa Consumer startups

For the many, not just the few. For good.

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Investment focus

  • Industry: Agriculture, Health Care, Internet
  • Stage:Series A, Series B
  • Geography: Kenya, Nigeria, United Kingdom

Investor stats

  • Total investments: 64
  • Round size: Series A $1.7M–$15M; Series B $3.5M–$42M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: May invest from a new fund soon — raised $108M in 2020

Portfolio highlights

  • Soko — SOKO produces innovative, ethical jewelry and accessories from sustainable materials in Nairobi, Kenya
  • Ignitia — Ignitia provides hyper-local weather updates, via SMS, based on GPS location. Since our commercial launch in 2015, we have established partnerships to work with small-scale farmers. We send daily, monthly and seasonal rain forecasts to help farmers avoid adverse impacts of an ever-changing climate.Unlike other regions, rain in the tropics isproduced by small-scale systems where convection is a driving force. These convection forces can appear much more quickly and without seemingly any notice to the untrained eye. Ignitia's technology is specifically designed to predict this kind of weather.
  • Moniepoint — Moniepoint provides an all-in-one payments, banking and operations platform for businesses and their customers.
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Susa Ventures
VC Fund · San Francisco, California, United States · 2 investments in Africa Consumer startups

A seed-stage VC fund investing in founders building value & defensibility through data, network effects, & economies of scale.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 276
  • Round size: Seed $2M–$7.2M; Series A $6.9M–$26M; Series B $14M–$70M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • Viz — The Viz.ai Intelligent Care Coordination Platform is the most widely used AI-powered solution to connect multidisciplinary beyond neurovascular, improving outcomes for patients and hospital economics.
  • MycoWorks — MycoWorks is engaged in the creation of sustainable design solutions with advanced biomaterials. The company’s proprietary custom-engineered material is sustainable, versatile, and animal-free, and feels and performs like leather. Their first product, Reishi, and the proprietary platform to make it, Fine Mycelium, are a groundbreaking approach tobiomaterials that delivers unparalleled versatility and unmatched performance in strength, durability, and hand feel. The perfect intersection of art and science, Reishi is the only natural material that performs like cowhide leather and is engineered to meet the highest quality standards.MycoWorks was founded by Sophia Wang and Philip Ross in 2013 and is based in Emeryville, California.
  • Centaur Labs — Centaur Labs offers accurate and scalable medical data labeling across a variety of modalities and data formats including CT, ultrasound, image, video, text and many more.
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KFW DEG
VC Fund · Cologne, Nordrhein-Westfalen, Germany · 2 investments in Africa Consumer startups

KFW DEG offers financing, advice and support to private sector enterprises operating in developing and emerging-market countries. Their customers can rely on their expertise: They can benefit from their market knowledge, their 21 locations worldwide, and their international network. For entrepreneurial success and development.

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Investment focus

  • Industry: Financial Services, Energy, FinTech
  • Stage:Debt Financing, Grant
  • Geography: India, Kenya, United States

Investor stats

  • Total investments: 111
  • Round size: Grant $100k–$1.1M; Debt Financing $10M–$570M
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • Etana — PT Etana Biotechnologies Indonesia (Etana) is an emerging producer of high-quality, affordable and innovative biopharmaceuticals to treat a range of metabolic, autoimmune and other major life-threatening diseases, including cancer. Nathan Tirtana. Legend Capital. UOB Venture Management. Innovent Bio
  • IPT PowerTech — IPT PowerTech coverage, coupled with our extensive expertise in supply chain management, field implementation, and power systems, has made us one of the most capable companies in handling the most complicated and versatile projects in the MEA region and its neighboring countries.
  • Fourth Partner Energy — Top renewable energy company in India offering solar, wind, and hybrid solutions for commercial & industrial sectors.
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Left Lane Capital
VC Fund · Brooklyn, New York, United States · 2 investments in Africa Consumer startups

Left Lane Capital is a venture capital and seed-growth equity firm that invests in high-growth internet and consumer technology businesses that are fundamental to the human condition and spirit – where customers maintain a long-term relationship with the product, platform, or service.

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Investment focus

  • Industry: FinTech, Financial Services, Software
  • Stage:Series A, Series B, Seed
  • Geography: United States, Germany, Canada

Investor stats

  • Total investments: 145
  • Round size: Seed $2.5M–$18M; Series A $9M–$33M; Series B $20M–$100M
  • Lead/follow: 63% lead, 37% follow
  • Last fund: Likely still investing — raised $1.4B in 2022

Portfolio highlights

  • AnswersNow — Personalized tele-ABA therapy for your child with autism spectrum disorder.
  • Diamond Standard — Invest in diamonds. Each Diamond Standard Coin and Bar contains an equivalent scarcity of carat, cut, color, and clarity. Diversify your portfolio.
  • Good Health Company (Clinic) (GHC) — We have the Perfect Solution here for Hair fall treatment, Beard Growth, Performance Wellness, Weight loss. Buy Health Care Products & complete wellness platform for Men in India
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GreenTec Capital Partners
VC Fund · Frankfurt, Hessen, Germany · 2 investments in Africa Consumer startups

GreenTec Capital Partners is Germany's premier investor into African start-ups and SMEs. GreenTec invests through its unique Results4Equity model, acting as a co-founding partner that is only compensated on business success.

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Investment focus

  • Industry: Information Technology, Retail, Computer
  • Stage:Seed, Pre-Seed
  • Geography: Kenya, Nigeria, Morocco

Investor stats

  • Total investments: 24
  • Round size: Pre-Seed $50k–$1M
  • Lead/follow: 83% lead, 17% follow
  • Last fund: May invest from a new fund soon — raised $1.2M in 2017

Portfolio highlights

  • Ecodudu — Ecodudu is a waste-to-value company. It uses a proprietary innovation to recycle organic waste into high-protein animal feed and organic fertilizer using the black soldier fly. It harnesses insects (nature’s recycling agents) to address global issues which include waste management, demand for protein, and environmental conservation.
  • Asilimia — Asilimia is a simple, fun mobile app for sending money through M-PESA quickly and without any transaction fees. Simply deposit money to your M-PESA, download Asilimia and send money for free to any other M-PESA account.
  • ShapShap — ShapShap enhances delivery experience through its commission-based marketplace by assigning efficient orders to drivers to ensure their sustainability and scalability.
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Patricia Ithau
Angel · 2 investments in Africa Consumer startups

Patricia Ithau

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Investment focus

  • Industry: Beauty, Retail, Fashion
  • Stage:Seed, Pre-Seed
  • Geography: Kenya

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Shop Zetu — Shop the latest trendy fashion, beauty and accessory brands in Kenya online! Discover affordable clothing, footwear, accessories, beauty products and more. Order today from Shop Zetu.
  • Uncover — Dermatologist-tested K-Beauty formulas powered by African botanicals for melanin-rich skin. Shop SPF 50 sunscreen, serums & kits with free Kenya shipping.
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Lynett Capital
VC Fund · San Francisco, California, United States · 2 investments in Africa Consumer startups

Lynett Capital is an early stage investment firm dedicated to the empowering technology companies.

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Investment focus

  • Industry: FinTech, SaaS, Mobile
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Kenya, Nigeria

Investor stats

  • Total investments: 26
  • Round size: Seed $120k–$3.1M; Pre-Seed $500k–$2.7M; Series A $3M–$49M
  • Lead/follow: 0% lead, 100% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Juxta — Juxta builds first-of-its-kind software that helps hospitals optimize the flow of patients, staff, and resources throughout their facilities. By incorporating intuitive geospatial programs into everyday operations, Juxta equips admin with a suite of unique analytics that help them make valuable choices for their hospitals.
  • Ribbon — Go live with an inheritance center that your members deserve
  • Luminate Medical — Luminate Medical is developing LILY, the world's first pain-free and portable solution to prevent hair loss caused by chemotherapy.
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Olugbenga Agboola
Angel · San Francisco, California, United States · 2 investments in Africa Consumer startups

Olugbenga Agboola is based out of San Francisco, California, and is the Founder and Chief Executive Officer of Flutterwave. Olugbenga previously worked at Access Bank as a Head of Digital Factory and Innovation. Olugbenga Agboola attended EC-Council University. Olugbenga Agboola has been a Certified Ethical Hacker and a Security Analyst.

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Investment focus

  • Industry: FinTech, Financial Services, Finance
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Nigeria, Kenya, United States

Investor stats

  • Total investments: 28
  • Round size: Seed $1.5M–$7.5M; Pre-Seed $625k–$3.7M
  • Lead/follow: 4% lead, 96% follow

Portfolio highlights

  • Klump — Use Klump to buy now and pay later in instalments for up to 12 months! Businesses accept payments, increase conversion rates, and boost revenue. The Easy Life! Try it now.
  • Curacel — Curacel creates APIs & tools that enable businesses to embed insurance in digital channels and to administer claims cost-effectively.
  • Lorum Finance
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International Finance Corporation
VC Fund · Washington, District of Columbia, United States · 2 investments in Africa Consumer startups

A strong and engaged private sector is indispensible to ending extreme poverty and boosting shared prosperity. That's where IFC comes in - we have more than 60 years experience in unlocking private investment, creating markets and opportunities where they are needed most.

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Investment focus

  • Industry: Financial Services, Finance, FinTech
  • Stage:Debt Financing, Series B
  • Geography: India, Brazil, United States

Investor stats

  • Total investments: 501
  • Round size: Series B $6M–$45M; Debt Financing $20M–$400M
  • Lead/follow: 59% lead, 41% follow

Portfolio highlights

  • Konfio — Konfio provides digital banking, payments, and software tools designed to boost small and mid-size enterprise's growth and productivity. It offers working capital loans, a corporate credit card, a loyalty program, and business productivity software tools.The company was founded in 2013 by David Arana and Francisco Padilla and isheadquartered in Mexico City.
  • TerraPay — TerraPay, a mobile-first international payment network, has been founded with the vision to send money to any mobile. TerraPay interconnects financial services providers -- mobile wallet service providers, money transfer operators, banks and payment platforms – to create a “one network” for secure and seamless transnational movement of funds. Thenetwork facilitates a broad transaction set including interpersonal transfers, e-payments and government disbursements.TerraPay is platform agnostic and supports standard open APIs for integration with any mobile wallet provider. Through a single connection, partners gain access to a global payment network enabling rapid services up-scaling whilst minimizing Opex and Capex investments. As a fully regulated financial intermediary services network, TerraPay offers services beyond principal core transaction, routing and processing functions and assumes end-to-end responsibility for, regulatory compliance foreign exchange management and funds settlement.
  • Roojai — Get a car insurance quote online in less than 2 minutes. Roojai.com car insurance policy provides top service at low price. Monthly instalment available.
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MNF Ventures
VC Fund · Casablanca, Grand Casablanca, Morocco · 2 investments in Africa Consumer startups

MNF Ventures is a venture capital fund based in Morocco, investing in Seed, Pre-Series A and Series A startups. Tickets size can go up to USD 1M. We invest in tech startups operating in Fintech/Insurtech, EdTech, Regtech, HealthTech, Biotech, EnergyTech Cybersecurity, SaaS... Startups have either to be based in Morocco, or be based worldwideif at least one of the founders is a Moroccan citizen. MNF Ventures manages Maroc Numeric Fund and Maroc Numeric Fund II.

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Investment focus

  • Industry: Online Portals, FinTech, Enterprise Software
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Morocco, France, Canada

Investor stats

  • Total investments: 32
  • Round size: Seed $200k–$1.6M; Series A $250k–$700k
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — raised $20M in 2018

Portfolio highlights

  • Damanesign — Damanesign operates as a digital trust solutions startup. Damanesign is a startup that is seizing new legislation opportunities on digital trust in Morocco to provide users with the utmost safety in documentation.
  • Atlan Space — Building Artificial Intelligence to autonomously pilot any fixed wing drone, to monitor and take measures over very large areas
  • OnePay — OnePay is a fintech startup that operates as a distributor of means of payment and aggregator of payment and value-added services in electronic transactions.
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F6 Ventures
VC Fund · Tunis, Tunis, Tunisia · 2 investments in Africa Consumer startups

Flat6Labs is the MENA region’s leading seed and early stage venture capital firm, currently running the most renowned startup programs in the region. Annually, Flat6Labs invests in more than 100 innovative and technology-driven startups enabling thousands of passionate entrepreneurs to achieve their daring ambitions and ultimately becoming theirinstitutional co-founders.

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Investment focus

  • Industry: E-Commerce, Retail, FinTech
  • Stage:Pre-Seed, Seed
  • Geography: Tunisia, France

Investor stats

  • Total investments: 42
  • Round size: Seed $65k–$200k; Pre-Seed $65k–$81k
  • Lead/follow: 67% lead, 33% follow
  • Last fund: May invest from a new fund soon — raised $10M in 2019

Portfolio highlights

  • WeMove — WeMove is a fitness marketplace for daily gym passes. They develop innovative solutions that meet your sports issues.
  • Bako Motors SAS — Bako Motors SAS is a motor vehicle manufacturing company that develops solar electric vehicles. manufacturer of electric vehicles with the goal of creating long-term fixes for rural areas' transportation issues with regard to people, cargo, and machinery. The business makes electric cars as well as solutions for clean energy generation andstorage that are infinitely scalable, providing users with inexpensive and environmentally friendly e-mobility.
  • Insight Plus — Insight Plus is a foreign exchange platform that specializes in interconnecting global exchanges into one eco system.
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Speedinvest
VC Fund · Vienna, Wien, Austria · 2 investments in Africa Consumer startups

Speedinvest is a globally active European venture capital firm built on a simple belief: many move more. From six offices across EMEA, our sector-focused investment teams back relentless founders from pre–Seed to Growth with long-term conviction, providing day-one access to our global network of corporate customers, experts, industry leaders, andtop-tier follow-on investors to scale smarter and faster. Building lasting companies like Bitpanda (Austria), Moove (Nigeria), Gigs (U.S.), Tide (UK), ARX Robotics (Germany), Wayflyer (Ireland), GoStudent (Austria), Seqera Labs (Spain), and Cylib (Germany) — together. Big ideas may start with one. But scaling and winning take The Power of More.

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Investment focus

  • Industry: Software, FinTech, Financial Services
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United Kingdom, Germany, Austria

Investor stats

  • Total investments: 528
  • Round size: Seed $823k–$8M; Pre-Seed $549k–$3.8M; Series A $3.7M–$38M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — raised $384M in 2022

Portfolio highlights

  • Findery — Find and leave notes anywhere in the world, discover local knowledge, hidden secrets, and exciting stories. Share your travel knowledge, geoblog, or local news!
  • MinersAI — Unlock valuable insights from intricate geological data with Miners AI. Our AI-driven platform empowers exploration teams to make informed decisions and optimize mining operations.
  • Primer — Primer is the first open automation platform for payments, enabling you to build end-to-end payment flows with no code, and a checkout developers love.
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Microtraction
VC Fund · Lagos, Lagos, Nigeria · 2 investments in Africa Consumer startups

We invest in Africa's most remarkable teams with technical founders at the earliest stage of their venture

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Investment focus

  • Industry: Financial Services, FinTech, Software
  • Stage:Pre-Seed, Seed, Angel
  • Geography: Nigeria, United States, Ghana

Investor stats

  • Total investments: 103
  • Round size: Seed $25k–$1.3M; Angel $30k–$50k; Pre-Seed $50k–$1.1M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Accounteer — Accounteer is a cloud accounting platform for small businesses. Business owner can create invoices, track expenses and follow up on their finances with ease. Accounteer integrates with external services like banks, e-invoicing platforms and e-commerce. Future proof your business today by subscribing for a free Accounteer trial account.
  • LemFi — Send money to India, China, Pakistan, Nigeria, Ghana, Kenya and 30 other countries. Receive and manage your money without stress
  • ThankUCash — ThankUCash is a technology company powering rewards and loyalty for African banks and businesses. ThankUCash helps merchants grow revenue by connecting them to customers within and outside of their locations while retaining acquired customers using a data analytics-powered reward system where customers earn cash rewards for every transaction madeboth offline and online.
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TBD Angels
VC Fund · Boston, Massachusetts, United States · 2 investments in Africa Consumer startups

TBD Angels is a group of like-minded angel investors who thrive on sharing advice, guidance, and capital with talented entrepreneurs. TBD Angels provide critical advice and connections to jumpstart the companies it invests in.

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Investment focus

  • Industry: Software, Health Care, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Angel
  • Geography: United States, Kenya, Hong Kong

Investor stats

  • Total investments: 72
  • Round size: Seed $334k–$6M; Angel $54k–$200k; Pre-Seed $200k–$2.1M
  • Lead/follow: 3% lead, 97% follow

Portfolio highlights

  • Penny Finance — Get a tailored financial & investing plans, track your money making, learn about personal finances & get new insights, all in the Penny Finance investing app for women.
  • Yuva Biosciences — Using cutting edge mitochondrial science to develop cosmeceuticals and pharmaceuticals.
  • Cayuga Biotech — Cayuga Biotech is a startup developing novel hemostatic drugs and devices to reduce uncontrollable bleeding which is a leading cause of death from traumatic injuries. The company's polyphosphate-based drug accelerates the body's own clotting process to contain clotting at the injury site and thus minimize the risk of side effects. Cayugais developing drugs for indications that treat traumatic hemorrhage as well as rare bleeding disorders.
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Lion’s Head Global Partners
VC Fund · London, England, United Kingdom · 2 investments in Africa Consumer startups

A global investment banking, asset management and advisory firm focused on delivering value to our clients in emerging and frontier markets

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Investment focus

  • Industry: Renewable Energy, Solar, Energy
  • Stage:Debt Financing
  • Geography: Kenya, France, Senegal

Investor stats

  • Total investments: 11
  • Round size: Debt Financing $2.2M–$11M
  • Lead/follow: 64% lead, 36% follow
  • Last fund: May invest from a new fund soon — raised $41M in 2021

Portfolio highlights

  • Baobab+ — Baobab+ is a social business committed to providing access to energy and digital. We commercialize innovative products with financing solutions that meet the needs of local populations.
  • Yellow — Yellow enables a distributed network of sales agents to serve rural households with life-changing products and services through a digital technology platform called Ofeefee.
  • Decentral Energy — Decentral Energy creates, owns, and manages renewable energy assets. Decentral provides customers with risk-free, completely financed solar energy solutions.
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