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Top 25 VC Funds & Investors in Rwanda (June 2026)

The most active venture capital funds investing in Rwanda startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Rwanda startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Ecosystem Integrity Fund
VC Fund
3 United States, India, Brazil Series A, Series B Energy, Renewable Energy, Software $4M–$45M
TotalEnergies Ventures
VC Fund
3 United States, France, United Kingdom Series B, Series C Energy, Renewable Energy, Transportation $9.3M–$175M
Factor E
VC Fund
3 Kenya, United States, India Seed, Series A, Convertible Note Energy, Renewable Energy, Agriculture $20k–$10M
pledges.com
VC Fund
2 Rwanda Pre-Seed Education $1M–$1M
ODBA
VC Fund
2 Nigeria, United States, United Kingdom Pre-Seed, Seed, Series A FinTech, Financial Services, Education $180k–$3.5M
Acumen
VC Fund
2 United States, India, Kenya Seed, Series A Agriculture, Health Care, Financial Services $300k–$13M
Norrsken Foundation
VC Fund
2 Nigeria, United States, Rwanda Pre-Seed, Seed Financial Services, Health Care, FinTech $125k–$4M
Nestcoin
VC Fund
2 Rwanda, Nigeria, United States Pre-Seed Blockchain, Cryptocurrency, Education $670k–$1M
Ground Squirrel Ventures
VC Fund
2 United States, Kenya, Zambia Seed, Series A Financial Services, FinTech, Finance $400k–$5M
Angaza Capital
VC Fund
1 Nigeria, Kenya, Rwanda Seed, Series B, Venture - Series Unknown Software, Health Care, Electronic Health Record (EHR) $1.2M–$2.5M
NISK Capital
VC Fund
1 Rwanda Seed Financial Services
VestedWorld
VC Fund
1 Nigeria, Kenya, Ghana Seed, Series A, Series B Agriculture, Farming, E-Commerce $1.6M–$20M
Battery Road Digital Holdings
VC Fund
1 Egypt, Singapore, India Seed, Series A E-Commerce, Transportation, Payments $200k–$10M
Good Soil VC
VC Fund
1 Ghana, United Kingdom, Rwanda Seed, Pre-Seed, Series A FinTech, Financial Services, Retail $35k–$940k
DOB Equity
VC Fund
1 Kenya, Rwanda, Uganda Private Equity, Seed Food and Beverage, Farming, Agriculture $1M–$4M
Imbuto Foundation
VC Fund
1 Rwanda Pre-Seed EdTech, Education
Zephyr Acorn
VC Fund
1 Kenya, India, Uganda Seed, Series A, Pre-Seed Financial Services, Banking, FinTech
Bathurst Capital
VC Fund
1 Rwanda Pre-Seed Wellness, Insurance, Health Care
Opes Impact Fund
VC Fund
1 Italy, Kenya, India Seed, Series A Communities, Agriculture, Energy $219k–$910k
International Finance Corporation
VC Fund
1 India, Brazil, United States Debt Financing, Series B Financial Services, Finance, FinTech
Blue Haven Initiative
VC Fund
1 Kenya, United States, Ghana Series A, Series B, Seed Solar, Energy, Health Care $2M–$22M
Leapfrog Ventures
VC Fund
1 United States, United Kingdom Series A, Series B, Series C Software, Analytics, Security
Alphamundi
VC Fund
1 Kenya, Colombia, Ghana Debt Financing, Series A, Series B Agriculture, Renewable Energy, Financial Services
Blockchain Founders Fund
VC Fund
1 United States, United Kingdom, Singapore Seed, Pre-Seed Blockchain, Cryptocurrency, FinTech $200k–$7M
Acacia Venture Capital Partners
VC Fund
1 United States, Mexico, Colombia Seed, Pre-Seed, Series B Software, E-Commerce, Artificial Intelligence $150k–$8.2M
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Investor list

Ecosystem Integrity Fund
VC Fund · San Francisco, California, United States · 3 investments in Rwanda startups

The Ecosystem Integrity Fund (“EIF”) is a venture capital firm that invests in early-stage companies contributing to environmental sustainability. It seeks to demonstrate that there is no trade-off between having a positive impact and achieving outstanding financial returns. The movement toward environmental sustainability is making incrementalimprovements to the largest industries in the world. Over the next several decades, the economy will be transformed by this movement.Sustainability is fundamentally about making things better: more efficient, more functional, less toxic, less costly. This is the next phase of the Industrial Revolution.

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Investment focus

  • Industry: Energy, Renewable Energy, Software
  • Stage:Series A, Series B
  • Geography: United States, India, Brazil

Investor stats

  • Total investments: 66
  • Round size: Series A $4M–$30M; Series B $5.5M–$45M
  • Lead/follow: 74% lead, 26% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Trashie — Trashie provides a textile recycling service with rewards through its Take Back Bag and TrashieCash program.
  • ZeroAvia — ZeroAvia is producing the world's first practical zero emission aviation powertrain, initially targeting 20-seat airplanes to start replacing dirty jet fuel in regional transport
  • Vammo — Leoparda Electric is a company that manufactures electric motorcycles.
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TotalEnergies Ventures
VC Fund · La Défense, Ile-de-France, France · 3 investments in Rwanda startups

TotalEnergies Ventures is the venture capital arm of Total.As part of Total's commitment to a better energy future, TotalEnergies Ventures is focused on finding, funding and fostering high-potential start-ups which will contribute to creating a low carbon future.Current areas of interest include Renewables, Distributed Energy, NewMobility, Energy Access, Energy Storage, Bio-Plastics, Circular Economy, Carbon Capture and Hydrogen.

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Investment focus

  • Industry: Energy, Renewable Energy, Transportation
  • Stage:Series B, Series C
  • Geography: United States, France, United Kingdom

Investor stats

  • Total investments: 93
  • Round size: Series B $9.3M–$175M; Series C $12M–$65M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Autogrid — AutoGrid Systems organizes energy data and employs big data analytics to generate real-time predictions that create actionable data.The company’s suite of flexibility management applications allows utilities, electricity retailers, renewable energy project developers and energy service providers to deliver cheap, clean and reliable energy bymanaging networked distributed energy resources (DERs) in real time and at scale. AutoGrid applications utilize petabytes of smart meter, sensor and third-party data, along with powerful data science and high-performance computing algorithms, to monitor, predict, optimize and control the operations of millions of assets connected across global energy networks.Established at Stanford University in 2011, they have assembled a team of world-class software architects, electrical and computer engineers, data scientists and energy experts who apply cutting-edge analytics and in-depth energy data science to solve the world’s most critical energy problems.
  • 45-8 ENERGY — 45-8 ENERGY is exploring eco-friendly helium for uses in many industries.
  • Ampersand — Ampersand catalyzes and power mass-market electric mobility. By supplying the battery swap network and operating system the company makes sustainable mobility rapidly accessible and affordable for developing markets, to improve livelihoods and the environment. With over a million km already covered by e-motorcycles in Africa using our plug-and-playpowertrain and energy network.
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Factor E
VC Fund · Fort Collins, Colorado, United States · 3 investments in Rwanda startups

Factor E is a finance company that impacts venture builders, dedicated to supporting the people and ideas that will turn the tables in the global battle for sustainable solutions to energy, agriculture, mobility, and waste challenges in emerging and frontier markets. It serves as a conduit between philanthropic and commercial investors throughmarket-driven forces.

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Investment focus

  • Industry: Energy, Renewable Energy, Agriculture
  • Stage:Seed, Series A, Convertible Note
  • Geography: Kenya, United States, India

Investor stats

  • Total investments: 34
  • Round size: Seed $500k–$4.6M; Series A $1.3M–$10M; Convertible Note $20k–$1.1M
  • Lead/follow: 41% lead, 59% follow

Portfolio highlights

  • Roam — The Standard for Electric Mobility in Africa.
  • Ferntech — Take control of your decentralized power system with Odyssey's FernTech software and hardware. Get real-time insights and automate operations with our reliable data collection, system automation, and range of controllers and IoT gateways. Explore the FernTech product suite and see how it works in action. Contact us to learn more.
  • 60Hertz Energy — Unify asset management with asset monitoring, enhance scheduling, and facile communication. Book a Demo Now!
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pledges.com
VC Fund · 2 investments in Rwanda startups

Start a US charity in minutes, without filing any paperwork

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Investment focus

  • Industry: Education
  • Stage:Pre-Seed
  • Geography: Rwanda

Investor stats

  • Total investments: 2
  • Round size: Pre-Seed $1M–$1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • AltSchool Africa — Let's invest in your Future. Learn highly sought after tech skills without hassle. A program designed to arm you with the skills and knowledge required to boldly launch your tech career.
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ODBA
VC Fund · Port Louis, Port Louis, Mauritius · 2 investments in Rwanda startups

We invest in people and stories, which are at the heart of everything we do.

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Investment focus

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

Investor stats

  • Total investments: 21
  • Round size: Seed $200k–$2M; Pre-Seed $180k–$3.5M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Fleri — Better healthcare for your family back home - Give your loved ones back home in Africa the gift of a better life with a healthcare coverage plan that works.
  • Edukoya — Edukoya builds online education content and offers online tutoring for students and their parents.
  • GetFundedAfrica — GetFundedAfrica's mission is to help Africa’s most promising startups find funding, grow & solve society’s greatest challenges. We do this through a media portal - GetFundedAfrica News; a learning portal - REMSANA; and an investment arm - GFA Ventures
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Acumen
VC Fund · New York, New York, United States · 2 investments in Rwanda startups

Acumen is a nonprofit venture fund that invests in early-stage companies bringing critical services like agriculture, clean energy, education, financial inclusion, healthcare and workforce development to low-income communities in 14 countries across East and West Africa, South Asia, Latin America, and the United States. Since 2001, Acumeninvested $128 million in 128 companies that have transformed the lives of over 308 million low-income people.

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Investment focus

  • Industry: Agriculture, Health Care, Financial Services
  • Stage:Seed, Series A
  • Geography: United States, India, Kenya

Investor stats

  • Total investments: 157
  • Round size: Seed $300k–$4.2M; Series A $1.6M–$13M
  • Lead/follow: 54% lead, 46% follow
  • Last fund: May invest from a new fund soon — raised $2.8M in 2019

Portfolio highlights

  • AgroEknor — AgroEknor provides agricultural research, integration, technology based optimization & global delivery of the agro superfoods.
  • Juhudi Kilimo — Juhudi Kilimo is a social enterprise that provides asset financing and technical assistance to smallholder farmers and small-to-medium agro-businesses.
  • Gulu Agricultural Development Company — GADC was established in northern Uganda in the aftermath of the LRA-instigated war which devastated the region for nearly 20 years.
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Norrsken Foundation
VC Fund · Stockholm, Stockholms Lan, Sweden · 2 investments in Rwanda startups

Norrsken Foundation is non-profit organization solving problems such as poverty, famine, environmental issues and mental health.

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Investment focus

  • Industry: Financial Services, Health Care, FinTech
  • Stage:Pre-Seed, Seed
  • Geography: Nigeria, United States, Rwanda

Investor stats

  • Total investments: 18
  • Round size: Seed $125k–$4M; Pre-Seed $125k–$1.1M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • RYE — RYE is a members-only, low-cost green energy supplier built for businesses with no time to deal with energy suppliers. Always accurate energy or it's free
  • Eden Care Medical — Eden Care Medical is a mobile application that provides medical and health insurance as well as financial services.
  • ORDA — Process orders, accept payments, connect to logistic providers, engage with your customers + more. We equip you with everything you need to grow your business.
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Nestcoin
VC Fund · Tórtola, Castilla-La Mancha, Spain · 2 investments in Rwanda startups

Nestcoin is a web3 application company that builds, operates, and invests in crypto-native products.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Education
  • Stage:Pre-Seed
  • Geography: Rwanda, Nigeria, United States

Investor stats

  • Total investments: 5
  • Round size: Pre-Seed $670k–$1M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Stakefair — Stakefair is an ecosystem of blockchain, crypto and DeFi products.
  • Nandi Labs — Nandi Labs, Home of Nandi Cowry, Digital FESTAC and MoveMint Magazine
  • AltSchool Africa — Let's invest in your Future. Learn highly sought after tech skills without hassle. A program designed to arm you with the skills and knowledge required to boldly launch your tech career.
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Ground Squirrel Ventures
VC Fund · Boston, Massachusetts, United States · 2 investments in Rwanda startups

Seed round investment in frontier markets and clean energy

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Investment focus

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

Investor stats

  • Total investments: 70
  • Round size: Seed $400k–$3M; Series A $1.8M–$5M
  • Lead/follow: 7% lead, 93% follow

Portfolio highlights

  • Grapevine — Grapevine makes it possible for groups to invite members, collect and distribute donations, establish a community and connect with nonprofits.
  • MindMics — Discover MindMics. The world's most accurate personal heart health monitor and well-being platform. Look after your heart health to live longer and better.
  • Untapped Global — Untapped connects global investors, and foreign capital to opportunities in emerging markets. Delivering competitive returns, and measurable impact for global investors.
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Angaza Capital
VC Fund · Abu Dhabi, Abu Dhabi, United Arab Emirates · 1 investments in Rwanda startups

Angaza Capital is an investment firm that provides funding for ecosystem creation and project developments.

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Investment focus

  • Industry: Software, Health Care, Electronic Health Record (EHR)
  • Stage:Seed, Series B, Venture - Series Unknown
  • Geography: Nigeria, Kenya, Rwanda

Investor stats

  • Total investments: 4
  • Round size: Seed $1.2M–$2.5M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • BFree — BFree focuses its collection processes on sustainably leading customers out of debt by giving them back control over their finances.
  • Ilara Health — Ilara Health helps primary care clinics across Africa deliver better care.
  • Helium Health — Helium Health empowers healthcare providers in Africa with digital tools, financing solutions, and data partnerships. Learn more about our innovative solutions.
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822 industries, 177 countries. Updated daily. Emails and phones included.

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NISK Capital
VC Fund · Nairobi, Nairobi Area, Kenya · 1 investments in Rwanda startups

NISK Capital is a boutique investment banking and advisory firm providing end-to-end services to Small and Medium sized Enterprises (SMEs) across the East African Community (EAC). The company is committed to supporting progress in the East African region. NISK Capital recognizes that the increasing convergence of global markets, local people andregional economies is the fundamental driver of global security and social improvement.

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Investment focus

  • Industry: Financial Services
  • Stage:Seed
  • Geography: Rwanda

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • BeneFactors — BeneFactors Ltd. is a Rwandan factoring company, providing tailored working capital solutions to firms. Factoring is a financial service, where future payments from your buyers are sold to a third party, the factor for cash. They can work with pending invoices or purchase orders for delivery. This means that you can continue working even if yourbuyers take a long time to pay or take on more clients at the same time - allowing you peace of mind as you grow your business.
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VestedWorld
VC Fund · Chicago, Illinois, United States · 1 investments in Rwanda startups

VestedWorld is an early-stage venture capital firm that invests in emerging markets companies that have the potential to generate competitive financial returns while contributing towards the growth and development of the markets in which they are located. The firm supports these businesses through the infusion of capital, active involvement incorporate governance, and by providing direct strategic and operational assistance.

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Investment focus

  • Industry: Agriculture, Farming, E-Commerce
  • Stage:Seed, Series A, Series B
  • Geography: Nigeria, Kenya, Ghana

Investor stats

  • Total investments: 26
  • Round size: Seed $1.6M–$5.9M; Series A $2.5M–$4.4M; Series B $9M–$20M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $187k in 2020

Portfolio highlights

  • BFree — BFree focuses its collection processes on sustainably leading customers out of debt by giving them back control over their finances.
  • Complete Farmer — Complete Farmer connects growers, buyers, and vendors with technology, support, and market access across Ghana and beyond.
  • Jackfruit Finance — Fast, flexible school financing in Kenya. Get working capital, projects, and asset loans designed around school fee cycles and growth needs.
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Battery Road Digital Holdings
VC Fund · Mumbai, Maharashtra, India · 1 investments in Rwanda startups

Battery Road Digital Holdings is a venture capital and private equity firm that focuses on frontier and emerging markets.

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Investment focus

  • Industry: E-Commerce, Transportation, Payments
  • Stage:Seed, Series A
  • Geography: Egypt, Singapore, India

Investor stats

  • Total investments: 19
  • Round size: Seed $200k–$3M; Series A $4.4M–$10M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • zypl.ai — We help financial institutions, government entities make more accurate decisions
  • AwanTunai — AwanTunai seek to reinforce Indonesian needs and productivity by providing digital loan for a better financial freedom and capability to micro-entrepreneurs
  • IMAN — One-stop shop for Halal investing
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Good Soil VC
VC Fund · London, England, United Kingdom · 1 investments in Rwanda startups

We are a venture capital firm that partners with founders to build global, market-defying companies. We fund diverse teams across Sub-Saharan Africa and Europe.

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Investment focus

  • Industry: FinTech, Financial Services, Retail
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Ghana, United Kingdom, Rwanda

Investor stats

  • Total investments: 11
  • Round size: Seed $35k–$940k
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Livoh — Livoh is a software firm offering live streaming platform so the content can reach its target market.
  • Zeepay — Zeepay Ghana Limited is a wholly Ghanaian owned Mobile FinancialServices company focusing on providing integrated mobile payments services with mobile wallets targeting the unbanked and banked population with the objective of bringing the unbanked into the financial stream and easing payments and collections for the banked population.Zeepayfacilitates the processing of multiple mobile phone payment transactions, and operates as a aggregator that brings transaction of all players together on one single platform. The company’s core application runs on open source technology, and is designed to integrate all types of payment platforms, banks, merchants, Mobile Network Operators (MNOs), and other companies with subscriber based transactions.
  • STEELO STYLE LTD — Join The Steelo Community
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DOB Equity
VC Fund · Veessen, Gelderland, The Netherlands · 1 investments in Rwanda 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, Agriculture
  • Stage:Private Equity, Seed
  • Geography: Kenya, Rwanda, Uganda

Investor stats

  • Total investments: 49
  • Round size: Seed $1M–$4M
  • Lead/follow: 59% lead, 41% follow

Portfolio highlights

  • FarmWorks — FarmWorks is an agricultural technology company that gives farmers access to farm inputs as well as a market for the produce .FarmWork is to unlock agricultural potential by building clusters of mid-sized farms while working with thousands of small-holder farmers and establishing direct linkage to local and global markets.
  • Ilara Health — Ilara Health helps primary care clinics across Africa deliver better care.
  • Spouts of Water — SPOUTS mission is to manufacture and distribute ceramic water filters to provide everyone in Uganda with safe water.
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Imbuto Foundation
VC Fund · Kicukiro, Kigali, Rwanda · 1 investments in Rwanda startups

Imbuto Foundation Mission is to support the development of a healthy, educated and prosperous society.

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Investment focus

  • Industry: EdTech, Education
  • Stage:Pre-Seed
  • Geography: Rwanda

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Rango Library — The Rango Library, which fights teen pregnancies by educating young people in the district about sexual and reproductive health, won this year's iAccelerator as the best start-up.
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Zephyr Acorn
VC Fund · Nairobi, Nairobi Area, Kenya · 1 investments in Rwanda startups

Zephyr Management is a global emerging markets investment manager, specializing in the creation & management of highly focused private equity and venture capital funds.

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Investment focus

  • Industry: Financial Services, Banking, FinTech
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Kenya, India, Uganda

Investor stats

  • Total investments: 9
  • Lead/follow: no public data

Portfolio highlights

  • Emata — Emata brings digital and affordable financial products to farmers in East Africa.
  • Turaco — Turaco develops simplified insurance and credit solutions through mobile technology to solve the healthcare financing needs. Turaco has simplified insurance products and also provides on-demand health loans, allowing customers to get healthcare at affordable monthly premiums.
  • Power — Putting individuals on the path towards financial health
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Bathurst Capital
VC Fund · Kicukiro, Kigali, Rwanda · 1 investments in Rwanda startups

Bathurst Capital is an investment firm.

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Investment focus

  • Industry: Wellness, Insurance, Health Care
  • Stage:Pre-Seed
  • Geography: Rwanda

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • 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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Opes Impact Fund
VC Fund · Milano, Lombardia, Italy · 1 investments in Rwanda startups

Opes-Lcef is an impact investor that provides catalytic capital to early-stage social enterprises in emerging markets.

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Investment focus

  • Industry: Communities, Agriculture, Energy
  • Stage:Seed, Series A
  • Geography: Italy, Kenya, India

Investor stats

  • Total investments: 43
  • Round size: Seed $219k–$910k
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • Refolo — Refolo is a type B social cooperative that sees social agriculture as having a dual impact: social and environmental. Refolo was created with the aim of creating an agro-ecological and social corridor that runs through the province of Brescia from north to south with the hope that administrations and other communities will come together to generatea positive impact on the environment and the community.Refolo operates in an area located between the municipalities of Brescia, Collebeato, Villa Carcina and Montirone, territories that share the presence of agricultural areas that over the years have been abandoned due to their unsuitability for intensive agriculture and lack of interest by new generations and that are now ready to start again.
  • 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.
  • Sistema.bio — Sistema.bio is a biodigester with biogas appliances. High efficiency biodigesters transform organic waste into renewable biogas.
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International Finance Corporation
VC Fund · Washington, District of Columbia, United States · 1 investments in Rwanda startups, 49 in the past 12 months

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: 353
  • Lead/follow: no public data

Portfolio highlights

  • ACCIONA — At ACCIONA we offer sustainable solutions to the most urgent challenges facing the planet, such as global warming, energy needs and water shortages
  • Yondr Group — We are Yondr, a global developer, owner and operator of hyperscale data centers. Our mission is: global capacity responsible delivery.
  • Lagos Free Zone — Lagos Free Zone provides exceptional infrastructure facilities and services.
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Access 48,091 investors

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

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Blue Haven Initiative
VC Fund · Cambridge, Massachusetts, United States · 1 investments in Rwanda 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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Leapfrog Ventures
VC Fund · Menlo Park, California, United States · 1 investments in Rwanda startups

They believe that the most successful company in any industry gains a disproportionately higher return for its shareholders. their mission is to help their portfolio companies Leapfrog their competitors and achieve industry-leading levels of competitive and market performance as quickly as possible.They are all experienced operating executivesof technology companies as well as successful venture investors. They can recognize the patterns that signal opportunities or risks in a small, high growth company. They have the resources and relationships to help entrepreneurs create the key alliances that will allow them to achieve victory early and convincingly. Every entrepreneur wants an investor who can help build the business. What does this mean? Certainly it is about advice and experience. These are the intangibles. Then there are the tangibles - the introductions to key customers and strategic partners, the access to distribution channels, the assistance in attracting and recruiting key executives - these are the immediate advantages that help Leapfrog the competition. They have built an extensive network of relationships which can be called upon to accelerate the success of their portfolio companies. When you work with them, you work with all of them, not just a single partner. All the partners work closely with all their companies to ensure that all of their collective resources are being matched to the immediate needs of their portfolio companies.

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Investment focus

  • Industry: Software, Analytics, Security
  • Stage:Series A, Series B, Series C
  • Geography: United States, United Kingdom

Investor stats

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

Portfolio highlights

  • exuus ltd — Exuus is a finTech company that inspire resilience and enable communities to achieve their optimal satisfaction.
  • C9 Inc. — C9 delivers predictive sales and marketing applications that increase revenue, generate more precise forecasts and mitigate pipeline risk. By combining data science with products that improve sales and marketing execution, C9 enables leading companies like Yahoo!, Pitney Bowes and Google to drive predictable growth. C9 is located in San Mateoand is backed by the Mayfield Fund, InterWest Partners and Leapfrog Ventures.
  • Zebit — Zebit grants a max of $2,500 in credit to consumers without hidden fees. Due to cash constraints or lack of credit access, consumers typically turn to high-cost off-line financing methods (payday loans, rent-to-own, in-store financing) with payments that can total over 3 times the purchase value. Zebit grants credit to shop thousands of productsto buy now and pay over time. By combining consumer income data with sophisticated risk analytics, and allowing members to shop name brand products in a closed marketplace, Zebit provides the benefits of internet commerce (product selection, lower prices, and mobile-shopping convenience) that disrupts a $25 billion high-cost, off-line installment financing industry.
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Alphamundi
VC Fund · Zürich, Zurich, Switzerland · 1 investments in Rwanda startups

AlphaMundi Group Ltd is a commercial entity based in Switzerland and exclusively dedicated to Impact Investing: profitable investments that generate substantial net benefits to society. It was founded in 2007 by a group of partners with extensive experience in the financial industry as well as responsible investments, microfinance andphilanthropy.AlphaMundi provides debt and equity financing to scalable social ventures in strategic sustainable human development sectors such as microfinance, affordable education, fair trade agriculture and renewable energy. AlphaMundi is currently investing out of its impact debt fund, SocialAlpha Investment Fund (SAIF) - Bastion, domiciled in Luxembourg. AlphaMundi also manages co-investments for SAIF-Bastion investors and third parties.​AlphaMundi partners believe that Impact Investing is a new tool for development that can enhance more classical responsible investment approaches (which often lack impact ​measurability) and complement charitable solutions (which often lack financial viability). To this extent, the firm also contributes to the emergence of Impact Investing through education events, publications and industry associations. Impact investments are now being integrated by leading US and European banks, pension funds, foundations and family offices into traditional investment portfolios, as primarily decorrelated, illiquid and profitable financial assets.

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Investment focus

  • Industry: Agriculture, Renewable Energy, Financial Services
  • Stage:Debt Financing, Series A, Series B
  • Geography: Kenya, Colombia, Ghana

Investor stats

  • Total investments: 20
  • Lead/follow: no public data

Portfolio highlights

  • Finaktiva — Finaktiva is the number one financial ally of Colombian entrepreneurs. We offer flexible and agile online financial solutions (loans in various forms, factoring and confirming) adjusted to the requirements of the companies. We also offer a range of non-financial tools through our platform to help SMEs´ grow. Our customers are typically businesseswith innovative business models, double-digit growth rates that have a positive impact in their communities.
  • AgriCapital — AgriCapital is a financial service firm that provides store credit, productive credit, credit installments, and accompaniment services.
  • Ampersand — Ampersand catalyzes and power mass-market electric mobility. By supplying the battery swap network and operating system the company makes sustainable mobility rapidly accessible and affordable for developing markets, to improve livelihoods and the environment. With over a million km already covered by e-motorcycles in Africa using our plug-and-playpowertrain and energy network.
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Blockchain Founders Fund
VC Fund · Singapore, Central Region, Singapore · 1 investments in Rwanda startups

We Focus Exclusively On Adding Value To Blockchain & Emerging Technology Projects With Real World Applications.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, FinTech
  • Stage:Seed, Pre-Seed
  • Geography: United States, United Kingdom, Singapore

Investor stats

  • Total investments: 204
  • Round size: Seed $550k–$7M; Pre-Seed $200k–$2M
  • Lead/follow: 14% lead, 86% follow
  • Last fund: Likely still investing — raised $75M in 2022

Portfolio highlights

  • Hivello — Hivello is a Decentralized Physical Infrastructure Network aggregator. Contribute resources, connect with Web3 protocols, and effortlessly generate passive income.
  • ZOTH — Unified platform for yield, payments, cards & compliance, serving retail & institutional users.
  • MonkeyLeague — MonkeyLeague is a video game company. They develop PC and console-based NFT games. The company offers a turn-based, play-and-earn multi-player soccer game that provides monkey NFTs of genetic composition formulated from 32 traits.
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Acacia Venture Capital Partners
VC Fund · Shanghai, Shanghai, China · 1 investments in Rwanda startups

Acacia is a cross border investment manager, specialising in private market investments. The team is composed of a diverse and international group that is primarily based in Shanghai.

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Investment focus

  • Industry: Software, E-Commerce, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series B
  • Geography: United States, Mexico, Colombia

Investor stats

  • Total investments: 17
  • Round size: Seed $150k–$8.2M; Pre-Seed $500k–$500k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Menza — Menza is a data analytics platform that generates interactive dashboards and proactive insights using AI.
  • Reacher — Reacher is an AI platform that streamlines creator discovery, outreach, campaign management, and analytics for TikTok Shop affiliates.
  • Karumi — Karumi is an AI agent that joins a live video call with your prospects to deliver personalized product demos, 24/7, in any language.
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VC funding in Rwanda at a glance

Stats across 69 deals from 74 investors.

74
investors
in Rwanda startups
69
deals
in Rwanda startups
$350k
median round
in Rwanda startups
43%
lead investors
lead at least one round
25%
Grant
most common funding stage

Access all 74 VC funds in Rwanda startups.

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