# Norsad Capital

> Norsad Capital is a VC fund backing Financial Services and Finance. See 10 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Gaborone, Botswana
- Total investments: 10
- Last investment: Aug 2023
- Lead investor: 50%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/norsad-finance-limited/
- Website: https://norsadcapital.com/

Norsad Capital is a VC fund in Gaborone focused on Financial Services and Finance. Norsad provides financing to mid-market growth companies that contribute towards building a better Africa. Norsad Capital is an impact investor and private credit provider offering debt and mezzanine finance to mid-market growth companies in Africa.

## Contacts

5 contacts available for Norsad Capital. Shizune tracks 2 team members at Norsad Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/norsad-capital?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Debt Financing | $4.6M–$30M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Financial Services | 9 | 90% |
| Finance | 5 | 50% |
| FinTech | 2 | 20% |
| Credit | 1 | 10% |
| Retail | 1 | 10% |

17 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Debt Financing | 9 | 90% |
| Post-IPO Debt | 1 | 10% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| South Africa | 3 | 30% |
| Zimbabwe | 2 | 20% |
| Kenya | 1 | 10% |
| Botswana | 1 | 10% |
| Mauritius | 1 | 10% |

7 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Oteng Sebonego | Investment Director | 0 | https://shizune.co/investors/profile/oteng-sebonego |
| Zubair Suliman | Investment Director | 1 | https://shizune.co/investors/profile/zubair-suliman |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| First Finance | First Finance is a financial services provider that provides a wide range of general purpose financial services across the country. | $8M | Debt Financing | Aug 24, 2023 |  |
| Bayport Management | Bayport Management Limited, through its subsidiaries, provides retail financial services in the Republic of Mauritius and internationally. | $10M | Post-IPO Debt | Jan 01, 2023 |  |
| Watu | Watu is an asset fintech firm focused on providing affordable and flexible financing access for people. | $5M | Debt Financing | Dec 19, 2022 |  |
| CABS | CABS offers financial products and services including transaction and savings accounts, mobile banking, loans and investment services. | $10M | Debt Financing | Nov 22, 2022 |  |
| Bridge Taxi Finance | Bridge Taxi Finance offers bridge parts, accessories, vehicle management, bridge services, and panel services. | $9.9M | Debt Financing | Feb 22, 2022 |  |
| RH Bophelo | RH Bophelo is a pan-African investment company with a focus on the healthcare sector. The company's mission is to make healthcare more accessible and affordable across Africa. They offer their facilities to governments and other organizations to assist in healthcare delivery. The company also has an investment arm, which aims to raise fundsfor further expansion and development of their healthcare services. | $6.3M | Debt Financing | Jan 01, 2022 |  |
| FBC Holdings | FBC Holdings is a diversified financial services group. | $10M | Debt Financing | Jan 01, 2022 |  |
| Terramar | Terramar distributes food, beverages, and other fast-moving consumer goods to serve the informal and formal markets. It also offers services including import, retailing, wholesaling, and distributing of frozen, chilled, and ambient consumer goods from Portuguese and South African procurement centers as well as from a variety of local suppliers. | $7.5M | Debt Financing | Jan 01, 2022 |  |
| onafriq | MFS Africa is the largest mobile money inter-operability hub in Africa, which connects mobile network operators across the continent through a single API. In addition to mobile remittance services, the MFS Africa API enables merchant payment, bulk payment, bank-to-wallet transfers, and an array of other cross border digital payments services. | $30M | Debt Financing | Nov 10, 2021 |  |
| ExpressCredit | ExpressCredit is a financial solutions company that provides online and offline consumer lending and loan services. | $4.6M | Debt Financing | Jan 01, 2021 |  |

10 of 10 investments shown.

## Co-investors
- [AHL Venture Partners](https://shizune.co/investors/profile/ahl-venture-partners) — VC Fund, 1 deal together
- [Lendable](https://shizune.co/investors/profile/lendable-2) — VC Fund, 1 deal together

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### Similar country
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## FAQ

### What does Norsad Capital invest in?

Norsad Capital invests primarily in Financial Services, Finance and FinTech startups, most often at Debt Financing and Post-IPO Debt stage. Most of the 10 investments tracked by Shizune back companies in South Africa. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Norsad Capital's check size?

Norsad Capital typically joins rounds of $4.6M–$30M at Debt Financing. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Norsad Capital participates in.

### How do I contact Norsad Capital?

Public channels for Norsad Capital include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Norsad Capital?

The team at Norsad Capital includes Oteng Sebonego (Investment Director) and Zubair Suliman (Investment Director). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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