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Top 50 VC Funds & Investors in Zambia (August 2026)

The most active venture capital funds investing in Zambia startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Zambia startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Ground Squirrel Ventures
VC Fund
5 United States, Kenya, Zambia Seed, Venture - Series Unknown Financial Services, FinTech, Finance $125k–$48M
Enygma Ventures
VC Fund
3 South Africa, Zambia, Swaziland Seed, Pre-Seed Financial Services, Lending, Beauty $150k–$1M
EDFI ElectriFI
VC Fund
3 United States, Kenya, France Debt Financing, Series A Energy, Solar, Renewable Energy $110k–$30M
UNDP
VC Fund
2 South Africa, United States, Egypt Grant, Seed, Pre-Seed AgTech, E-Commerce, Agriculture $7k–$100k
Tiger Global Management
VC Fund
2 United States, India, China Series B, Series A, Series C Software, FinTech, Financial Services $9M–$284M
The Todd & Rahul Angel Fund
VC Fund
2 United States, Zambia, Nigeria Seed, Series A, Pre-Seed Information Technology, Software, Artificial Intelligence $500k–$30M
Amano Capital
VC Fund
2 Zambia, United States Pre-Seed, Seed, Venture - Series Unknown EdTech, Software, Education
Goneke Investment Group
VC Fund
2 Zambia Seed, Private Equity Energy, Oil and Gas, Project Management
KFW DEG
VC Fund
2 India, Kenya, United States Debt Financing, Grant, Private Equity Financial Services, Energy, FinTech $100k–$350M
Vibe VC
VC Fund
2 United States, India, Zambia Seed, Pre-Seed, Series A Financial Services, Finance, Software $250k–$33M
Inoks Capital
VC Fund
2 Zambia Series A Marketplace, Financial Services $8.3M–$11M
Alitheia IDF
VC Fund
2 Nigeria, South Africa, Ghana Venture - Series Unknown, Series A, Seed E-Commerce, Retail, Logistics $2.8M–$13M
Catalytic Africa
VC Fund
2 Zambia, Cameroon, Tanzania Angel, Seed, Pre-Seed Apps, Online Portals, Financial Services $22k–$2M
Runa Capital
VC Fund
2 United States, Germany, France Series A, Seed, Series B Software, SaaS, FinTech $1.1M–$20M
ACE & Company
VC Fund
2 United States, Switzerland, United Kingdom Seed, Series A Software, Financial Services, FinTech $1M–$24M
Ventures Platform
VC Fund
2 Nigeria, United States, Kenya Seed, Pre-Seed Financial Services, FinTech, Internet $100k–$4.4M
Torrey Pines Investment
VC Fund
1 United States, Russian Federation, The Netherlands Seed, Pre-Seed Biotechnology, Health Care, Pharmaceutical $3M–$3.1M
True Capital Management
VC Fund
1 United States, Nigeria, Canada Seed, Series A, Pre-Seed FinTech, Financial Services, Software $125k–$555M
54 Collective
VC Fund
1 Kenya, Nigeria, South Africa Seed, Pre-Seed Health Care, Information Technology, FinTech $40k–$4M
Growth Investment Partners
VC Fund
1 Ghana, Zambia Debt Financing, Private Equity Mining, Farming, Mineral
Launch Africa
VC Fund
1 Nigeria, South Africa, United States Seed, Pre-Seed, Venture - Series Unknown Financial Services, FinTech, Information Technology $200k–$4M
Twilio
VC Fund
1 United States, Egypt, Brazil Series A, Seed, Series B Software, Artificial Intelligence, Machine Learning $195k–$40M
Acumen
VC Fund
1 United States, India, Kenya Seed, Series A Agriculture, Solar, Financial Services $300k–$12M
Inside Capital Partners
VC Fund
1 Zambia, Madagascar, United States Series A, Private Equity, Venture - Series Unknown mHealth, Education, Health Care
Not Boring Capital
VC Fund
1 United States, Canada, Zambia Seed, Series A, Pre-Seed Software, FinTech, Cryptocurrency $400k–$32M
AgDevCo
VC Fund
1 Kenya, Ethiopia, Mauritius Debt Financing, Venture - Series Unknown Farming, Agriculture, AgTech $15k–$10M
Earl Grey Capital
VC Fund
1 United States, India, Canada Seed, Pre-Seed, Series A Information Technology, SaaS, Software $1M–$14M
Global Partnerships/Eleos Social Venture Fund
VC Fund
1 Uganda, Zambia, United States Series A, Series B, Seed Logistics, Agriculture, Car Sharing $2.1M–$10M
FINCA Ventures
VC Fund
1 Kenya, Nigeria, United States Seed, Grant, Series A Financial Services, Agriculture, FinTech $40k–$4.2M
Private Infrastructure Development Group
VC Fund
1 Kenya, Zambia, Senegal Grant, Debt Financing, Series C Energy, Renewable Energy, Solar $66k–$50M
Patrick J. McGovern Foundation
VC Fund
1 United States, United Kingdom, Switzerland Grant, Seed, Pre-Seed Non Profit, Education, Health Care $100k–$750k
Tamboti Circle
VC Fund
1 Zambia Pre-Seed
Zenga Ventures
VC Fund
1 Zambia Seed Apps, Software, Business Information Systems
Norfund
VC Fund
1 Kenya, South Africa, Nigeria Private Equity, Debt Financing Financial Services, Energy, Renewable Energy $2.2M–$156M
Jordan Engineering
VC Fund
1 Zambia Seed Agriculture, Financial Services
Finnfund
VC Fund
1 Kenya, India, South Africa Debt Financing, Series B Financial Services, Energy, FinTech $2.7M–$135M
Atom CTO
VC Fund
1 Zambia Seed Apps, Education, E-Learning
bettervest GmbH
VC Fund
1 Zambia Debt Financing Energy, Information Technology, Social Entrepreneurship
Renew Capital
VC Fund
1 Uganda, Kenya, Ethiopia Pre-Seed, Seed Mobile Apps, Financial Services, Finance
Oikocredit International
VC Fund
1 India, Nigeria, Kenya Debt Financing, Series B Financial Services, Finance, FinTech $1.5M–$24M
Danish Investment Fund for Developing Countries
VC Fund
1 France, Zambia, Myanmar Private Equity, Venture - Series Unknown Energy, Renewable Energy, Water
GreenTec Capital Partners
VC Fund
1 Kenya, Nigeria, Morocco Seed, Pre-Seed, Venture - Series Unknown Logistics, Information Technology, Retail $50k–$1M
Opes Impact Fund
VC Fund
1 Italy, Kenya, India Venture - Series Unknown, Seed Communities, Agriculture, Energy $219k–$910k
Johnson & Johnson Foundation
VC Fund
1 Brazil, United States, Colombia Grant, Seed, Pre-Seed Health Care, Medical, Health Diagnostics $25k–$50k
FMO
VC Fund
1 India, Kenya, The Netherlands Debt Financing, Post-IPO Debt, Series B Financial Services, Finance, Renewable Energy $4.5M–$420M
Goodwater Capital
VC Fund
1 United States, India, South Korea Seed, Series A, Pre-Seed FinTech, Financial Services, Software $125k–$31M
Shell Foundation
VC Fund
1 India, United States, Kenya Grant, Seed, Debt Financing Energy, Financial Services, Solar $300k–$53M
EDFI Management Company
VC Fund
1 Zambia, Benin, Ghana Debt Financing, Series B, Venture - Series Unknown Renewable Energy, Energy, Solar $2.6M–$15M
InfraCo Africa
VC Fund
1 Kenya, India, France Seed, Series B Renewable Energy, Solar, Energy $1.5M–$28M
Blockchain Founders Fund
VC Fund
1 United States, United Kingdom, Singapore Seed, Pre-Seed Blockchain, Cryptocurrency, FinTech $200k–$6M
Access all 105 VC funds in Zambia startups.

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

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Investor list

Ground Squirrel Ventures
VC Fund · Boston, Massachusetts, United States · 5 investments in Zambia startups

Seed round investment in frontier markets and clean energy

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Investment focus

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

Investor stats

  • Total investments: 70
  • Round size: Seed $400k–$3M; Venture - Series Unknown $125k–$48M
  • 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.
  • Untapped Global — Untapped connects global investors, and foreign capital to opportunities in emerging markets. Delivering competitive returns, and measurable impact for global investors.
  • Necessary Ventures — We invest in what the world needs.
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Enygma Ventures
VC Fund · Cape Town, NA - South Africa, South Africa · 3 investments in Zambia startups

Enygma Ventures is an investment fund for female entrepreneurs and women founders, focused on Southern Africa or SADC. Unlike traditional private equity, venture capital, and banks our team is full of award winning entrepreneurs who understand the same struggles you face first hand.

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Investment focus

  • Industry: Financial Services, Lending, Beauty
  • Stage:Seed, Pre-Seed
  • Geography: South Africa, Zambia, Swaziland

Investor stats

  • Total investments: 13
  • Round size: Seed $150k–$1M
  • Lead/follow: 85% lead, 15% follow

Portfolio highlights

  • Pranary — The practical business school for entrepreneurs
  • The Good Mineral — The Good Mineral is award-winning, vegan makeup designed for acne prone, sensitive skin - enjoy natural glowing lightweight coverage - free from preservatives, fragrance, talc, oils, waxes and dyes.
  • PremierCredit Zambia — PremierCredit is an international financial technology company that operates an online microlending and investment platform in Sub-Saharan Africa's emerging markets. The Financial Services Commission (FSC) has licensed and regulated the company, allowing them to provide inclusive financial services throughout Africa.
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EDFI ElectriFI
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 3 investments in Zambia startups

Impact investment in sustainable energy

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Investment focus

  • Industry: Energy, Solar, Renewable Energy
  • Stage:Debt Financing, Series A
  • Geography: United States, Kenya, France

Investor stats

  • Total investments: 65
  • Round size: Series A $2.2M–$30M; Debt Financing $110k–$10M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • BURN — The future of clean cooking
  • GOGO Electric — Bodawerk is an innovations and engineering company. Our products are created to serve the needs of people at the bottom of the pyramid.
  • MyJouleBox — MyJouleBox offers a solution for solar professionals in Africa to offer leased solar installations to their customers.
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UNDP
VC Fund · New York, New York, United States · 2 investments in Zambia startups

UNDP works to eradicate poverty and reduce inequalities through the sustainable development of nations, in more than 170 countries and territories.

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Investment focus

  • Industry: AgTech, E-Commerce, Agriculture
  • Stage:Grant, Seed, Pre-Seed
  • Geography: South Africa, United States, Egypt

Investor stats

  • Total investments: 17
  • Round size: Grant $25k–$100k; Pre-Seed $7k–$40k
  • Lead/follow: 41% lead, 59% follow

Portfolio highlights

  • Amanleek — Amanleek, aims to simplify insurance services and make it more accessible for a wider base of individual and business customers through leveraging transparency, trust and innovation to deliver an enhanced experience for all parties involved through tech based solutions.
  • Medtech Africa — Medtech Africa is a Nigerian-based startup leveraging Artificial Intelligence and Apps to enable Cardiologists to treat and manage patients living with Cardiovascular Disease using the Patient's own data.The App, Forcardio, is a smart mobile & web application that seamlessly connects FDA-approved Bluetooth-enabled Cardiovascular devicesused by Patients through a mobile app to physician's tablet/device.Forcardio, eliminates the need for Cardiologists to use hundreds of apps to manage CVD. Forcardio App connects all CVD devices.We provide features such as AI analytics and Planning tools for Patient data for Cardiologist, emergency warning systems, on-demand video/voice call and management tools for CVD Patients.
  • Riwe — Empowering communities and industries with climate data, insurance, and financial infrastructure. 080000CALL-RIWE
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Tiger Global Management
VC Fund · New York, New York, United States · 2 investments in Zambia startups

Founded in 2001, Tiger Global Management, LLC (“Tiger Global”) is a New York-based investment firm pursuing a long-term approach to investing in leading, global public and private companies that leverage technological innovation. Tiger Global’s public equity business includes fundamentally oriented long/short, long-focused and crossoverstrategies, targeting investments in high-quality, public growth companies. The private equity business invests in early through late stage companies that pursue innovative approaches to new and existing industries, building on over 20 years of experience investing in hundreds of businesses in more than 30 countries with more than 90 portfolio company IPOs. With a strong track record investing across sectors and stages, Tiger Global aims to be a thought partner to companies and their management teams across their lifecycle in public and private markets. The Firm’s mission is to generate world-class returns for its investors and to do so in a way that makes its employees, partners and portfolio companies proud.

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Investment focus

  • Industry: Software, FinTech, Financial Services
  • Stage:Series B, Series A, Series C
  • Geography: United States, India, China

Investor stats

  • Total investments: 1234
  • Round size: Series A $9M–$54M; Series B $20M–$130M; Series C $30M–$284M
  • Lead/follow: 58% lead, 42% follow
  • Last fund: Likely still investing — raised $2.2B in 2024

Portfolio highlights

  • Kavak — KAVAK is an innovative company in the automotive industry that helps people acquire their own car, offering a wide range of guaranteed and certified cars.
  • StrongDM — Manage access to any server, database, or Kubernetes instance in minutes. Fully auditable, replayable, secure, and drag-and-drop easy.
  • OfBusiness — Get latest raw materials prices, news and instant quotes for 500+ Categories across Steel, Aluminium, Agri and more
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The Todd & Rahul Angel Fund
VC Fund · San Francisco, California, United States · 2 investments in Zambia startups

Backed by 110+ world-class founders and operators. We help you find product/market fit faster, supercharge your distribution, and raise from the best investors.

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Investment focus

  • Industry: Information Technology, Software, Artificial Intelligence
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Zambia, Nigeria

Investor stats

  • Total investments: 19
  • Round size: Seed $3M–$30M; Pre-Seed $500k–$3.8M; Series A $6M–$21M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — raised $24M in 2021

Portfolio highlights

  • Vulture Labs — Transforming your existing CCTV into your Most Powerful Operational Tool.
  • TRIC Robotics — TRIC Robotics develops an autonomous, non-chemical pesticide alternative for strawberry farms. The company was founded in 2017 and is headquartered in Newark, DE.
  • Pilot Protocol — Network OS for AI Agents
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Amano Capital
VC Fund · Lusaka, NA - Zambia, Zambia · 2 investments in Zambia startups

An advisory-brokerage firm that bridges the gap between opportunity and capital in the SME market in Zambia.

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Investment focus

  • Industry: EdTech, Software, Education
  • Stage:Pre-Seed, Seed, Venture - Series Unknown
  • Geography: Zambia, United States

Investor stats

  • Total investments: 4
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • EduPay — Edupay provides affordable education loans with flexible repayment, ensuring uninterrupted learning.
  • Explorer School — Explorer School is an online primary and secondary school that offers educational programs.
  • Likota Furniture — Proudly Zambian business specialized in handcrafted, sustainable furniture.
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Goneke Investment Group
VC Fund · Johannesburg, NA - South Africa, South Africa · 2 investments in Zambia startups

Pioneering a century-long initiative to finance, build, and secure the critical industries that define national strength.

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Investment focus

  • Industry: Energy, Oil and Gas, Project Management
  • Stage:Seed, Private Equity
  • Geography: Zambia

Investor stats

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

Portfolio highlights

  • Saharan Oil & Gas Company — Saharan Oil & Gas Company Limited (formerly Hume Energy) is a conglomerate of project managers that provide energy solutions in Sub-Saharan Africa. Through our global network of partners we develop and apply Next Generation Technologies to help safely and responsibly address Africa’s growing energy deficit. Energy access influences comfort,safety, security, and human progress, touching every aspect of our lives. SOGCOL aims to evolve from a regional marketer to an advanced energy innovator and a global energy solutions provider. We aspire to be an industry leader in all aspects of energy production, transportation, distribution, and marketing. Our operations encompass identifying energy projects and facilitation of financing from research and development to promotion, marketing, and execution.
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KFW DEG
VC Fund · Cologne, Nordrhein-Westfalen, Germany · 2 investments in Zambia 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, Private Equity
  • Geography: India, Kenya, United States

Investor stats

  • Total investments: 124
  • Round size: Grant $100k–$1.1M; Debt Financing $10M–$350M; Private Equity $11M–$274M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Fibra Nova — Fibra Nova is a real estate investment trust that specializes in the acquisition, management, and development of properties for leasing.
  • Combio Energia — ComBio Energia Provide energy generation solutions with renewable sources, creating, growing, and long-term economic value. They develop projects for steam generation and cogeneration of electricity with biomass, which promote environmental improvements and significant cost reductions for customers in the industrial segment. They offer, based on adetailed analysis of the needs of each customer, a dedicated energy solution, adapted to their consumption profile.
  • 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.
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Vibe VC
VC Fund · 2 investments in Zambia startups

We were told no one would take us seriously as investors without a website, so here's our website.

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Investment focus

  • Industry: Financial Services, Finance, Software
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, India, Zambia

Investor stats

  • Total investments: 12
  • Round size: Seed $3M–$12M; Pre-Seed $250k–$4.5M; Series A $8M–$33M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • Carry — Ocho is everything you need to build wealth as a business owner.
  • Qene Games — Qene Games is an award-winning software development firm operating from Addis Abeba, Ethiopia. Founded in 2017, the company has been focused on developing and publishing video games while providing game development outsourcing, game art outsourcing, and other software development services.
  • Hone Health — Hone Health is a telehealth clinic that helps people improve healthspan through advanced biomarker testing, clinician-guided care, and personalized protocols.
Show all investments...

Access 48,091 investors

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

Browse database — It's Free!
Inoks Capital
VC Fund · Geneva, Geneve, Switzerland · 2 investments in Zambia startups

INOKS Capital is a FINMA regulated asset manager and one of the most experienced players in providing Impactful and Sustainable Alternative Credit

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Investment focus

  • Industry: Marketplace, Financial Services
  • Stage:Series A
  • Geography: Zambia

Investor stats

  • Total investments: 2
  • Round size: Series A $8.3M–$11M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Lupiya — Lupiya is a financial technology company that provides digital lending services designed to help individuals and small businesses access short-term credit and installment financing. The platform offers mobile-accessible loans that can be used for expenses such as personal needs, business cash flow, or emergency payments, using an online applicationprocess that evaluates creditworthiness through alternative data and behavioral indicators. Lupiya’s services include flexible repayment schedules, automated disbursement, and electronic account management so users can monitor balances and repayment activity within the app or web interface. The company also offers tools for budgeting and payment reminders to support borrowers in managing their credit obligations. Through integrations with local payment networks and banking partners, Lupiya facilitates secure fund transfers and compliance with financial regulations. Its lending infrastructure is tailored to expand access to credit for underserved populations and small enterprises that may have limited access to traditional banking services.
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Alitheia IDF
VC Fund · Moka, Moka, Mauritius · 2 investments in Zambia startups

Alitheia IDF is investing in dynamic and growing businesses throughout Africa. By investing in teams that recognize the importance of gender diversity the firm generates superior financial returns and impact.

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Investment focus

  • Industry: E-Commerce, Retail, Logistics
  • Stage:Venture - Series Unknown, Series A, Seed
  • Geography: Nigeria, South Africa, Ghana

Investor stats

  • Total investments: 12
  • Round size: Seed $2.8M–$13M; Series A $3M–$11M; Venture - Series Unknown $4.5M–$5M
  • Lead/follow: 67% lead, 33% follow
  • Last fund: Likely still investing — raised $100M in 2021

Portfolio highlights

  • Lupiya — Lupiya is a financial technology company that provides digital lending services designed to help individuals and small businesses access short-term credit and installment financing. The platform offers mobile-accessible loans that can be used for expenses such as personal needs, business cash flow, or emergency payments, using an online applicationprocess that evaluates creditworthiness through alternative data and behavioral indicators. Lupiya’s services include flexible repayment schedules, automated disbursement, and electronic account management so users can monitor balances and repayment activity within the app or web interface. The company also offers tools for budgeting and payment reminders to support borrowers in managing their credit obligations. Through integrations with local payment networks and banking partners, Lupiya facilitates secure fund transfers and compliance with financial regulations. Its lending infrastructure is tailored to expand access to credit for underserved populations and small enterprises that may have limited access to traditional banking services.
  • Seamfix — Seamfix’s end-to-end electronic ID and credentials software solutions address the lack of digital ID systems for 30+ African countries and over 250M individuals, providing access to credit, banking, and other essential services for large parts of populations.
  • Alma Clinics — ALMA CLINICS Primary Healthcare with Advanced Blockchain, AI technology. BEST Clinic providing affordable healthcare, Soweto, Johannesburg, South Africa.
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Catalytic Africa
VC Fund · Ebène, Plaines Wilhems, Mauritius · 2 investments in Zambia startups

Co-matching fund platform supporting startups and angel networks across Africa.

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Investment focus

  • Industry: Apps, Online Portals, Financial Services
  • Stage:Angel, Seed, Pre-Seed
  • Geography: Zambia, Cameroon, Tanzania

Investor stats

  • Total investments: 22
  • Round size: Seed $65k–$2M; Angel $22k–$90k; Pre-Seed $60k–$1.5M
  • Lead/follow: 45% lead, 55% follow

Portfolio highlights

  • Figorr — Figorr is your go-to, for accessing reliable information on temperature, humidity, and location. Experience the next generation of data-driven insights with Figorr today.
  • Sumet Technologies — Sumet is a transforming the distribution of essential goods across the african continent.
  • TileGreen — TileGreen transforms plastic waste into eco-friendly circular building materials. Our innovative technology creates sustainable solutions for construction industry.
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Runa Capital
VC Fund · Palo Alto, California, United States · 2 investments in Zambia startups

Runa Capital is a global venture capital firm built by serial entrepreneurs that invests in early-stage software startups around the world...

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Investment focus

  • Industry: Software, SaaS, FinTech
  • Stage:Series A, Seed, Series B
  • Geography: United States, Germany, France

Investor stats

  • Total investments: 152
  • Round size: Seed $1.1M–$10M; Series A $1.5M–$15M; Series B $2.5M–$20M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: May invest from a new fund soon — raised $69M in 2020

Portfolio highlights

  • Spectrm — charles is the Conversational Marketing AI and CRM platform for brands to attract, convert, and retain customers via AI agents and marketing automations.
  • Axiom Trust — Axiom Trust is an AI-powered trust startup that modernises professional trust administration during the "Great Wealth Transfer" of over $100 trillion in assets.
  • Lace Lithography — Lace is building the patterning technology that will power the next 100 years of semiconductor manufacturing.
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ACE & Company
VC Fund · Geneva, Geneve, Switzerland · 2 investments in Zambia startups

ACE & Company is a Geneva-based private equity and venture capital firm with more than $2.0 billion in assets under management and over 20 years of experience.

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Investment focus

  • Industry: Software, Financial Services, FinTech
  • Stage:Seed, Series A
  • Geography: United States, Switzerland, United Kingdom

Investor stats

  • Total investments: 186
  • Round size: Seed $1M–$6.4M; Series A $3.4M–$24M
  • Lead/follow: 3% lead, 97% follow
  • Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

  • Roofr — The complete sales toolbox for roofers. From roof measurement reports to project-winning proposals.
  • Vennre — Build wealth through vetted private market opportunities from $5k. GCC-first, globally accessible. Regulated, Sharia-compliant, digital-first.
  • DiPonio Contracting — DiPonio Contracting is an infrastructure maintenance and construction company. It offers new and replacement upgrades for aged and existing water, wastewater, and storm sewer systems.
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Ventures Platform
VC Fund · Abuja, Federal Capital Territory, Nigeria · 2 investments in Zambia 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: 160
  • Round size: Seed $120k–$4.4M; Pre-Seed $100k–$2M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • Traction Apps — Traction apps provide businesses end to end tools they need to run and grow their businesses.
  • MarketForce — MarketForce is a US, Kenya and Nigeria-based technology company that is building the SuperApp for Africa's 100 million merchants. MarketForce provides an all-inclusive B2B Commerce and Fintech platform (dubbed “RejaReja” – Swahili for ‘retail’) that empowers merchants in Africa to source, order and pay for inventory digitally and conveniently,access financing, collect digital payments and make extra money by reselling digital financial services such as airtime, electricity tokens and bill payments. Launched in 2018, MarketForce is a fast-growing YC backed company running an asset-light business model and is currently operational in 5 markets in Sub-Saharan Africa, with over 200,000 merchants and 50 consumer brands trading on the platform.
  • 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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Torrey Pines Investment
VC Fund · San Diego, California, United States · 1 investments in Zambia startups

Torrey Pines Investment, founded in 2002, is a specialty life-science investment company located in San Diego.Torrey Pines has a team of investment professionals with extensive experience in entrepreneurship, venture capital and operations. Our firm has created biopharma incubators investing in early development stage assets from internationalpharma and biotech partners in CNS, oncology, and virology areas to bring them to commercial success through pharma partnering and M&A.We are committed to capitalizing on the unique opportunities in biotech and pharma, where we can add value in development or regulatory strategy by utilizing resources of our portfolio CRO companies. We seek to leverage our industry knowledge, network of industry and financial contacts, and internal resources to assist our portfolio management in developing and executing their business strategy. Our bottom line is to help our companies achieve growth, build value and realize wealth.

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Investment focus

  • Industry: Biotechnology, Health Care, Pharmaceutical
  • Stage:Seed, Pre-Seed
  • Geography: United States, Russian Federation, The Netherlands

Investor stats

  • Total investments: 32
  • Round size: Seed $3M–$3.1M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $60M in 2017

Portfolio highlights

  • Mondego Bio — Headquartered in Portugal’s main biotech park, Biocant, Mondego Bio is developing best-in-class protein tyrosine phosphatase non-receptor type 2 (PTPN2) inhibitors, providing a potential immuno-oncological therapy with an improved safety and tolerability profile.
  • BIMINI Biotech — BIMINI Biotech is a startup that develops innovative therapeutic strategies for oncology. It is developing therapeutic strategies that target the growth hormone receptor (GHR) and its interaction with insulin-like growth factor 1 (IGF-1) for oncology, metabolic diseases, and aging.The company was founded in 2019 and is based in Leiden, TheNetherlands.
  • Chromis Therapeutics — Chromis Therapeutics, Inc. (Chromis) is a San Diego-based biopharmaceutical company, focused on the development of curative treatments for chronic HBV infection, based on its advanced proprietary drug design and discovery platform. The company is seeking investment to advance its novel cccDNA inhibitor (CHR101), viral entry and viral capsidassembly inhibitor lead candidates for the treatment of chronic HBV. CHR101 has a potential to eradicate HBV and to efficiently cure chronically infected HBV patients, as compared to drugs currently on the market. CHR101's activity is supported by a robust discovery preclinical data package.
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True Capital Management
VC Fund · San Francisco, California, United States · 1 investments in Zambia startups

Achieve your financial goals & build generational wealth with our entertainer & athlete wealth management services. Offering comprehensive financial planning.

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Investment focus

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

Investor stats

  • Total investments: 151
  • Round size: Seed $949k–$4.4M; Pre-Seed $125k–$725k; Series A $9.1M–$555M
  • Lead/follow: 1% lead, 99% follow
  • Last fund: May invest from a new fund soon — raised $18M in 2012

Portfolio highlights

  • StackAI — Stack AI supercharges businesses. Deploy AI-powered applications in minutes, automate processes, and skyrocket productivity by connecting LLMs to data sources using Stack AI's no-code platform. Export your work with user-centric interfaces (chatbots and forms) and developer-friendly APIs.
  • Milano Vice — Milano Vice is building a new virtual food brand by working with professional kitchens to prepare and deliver delicious pizzas to home.
  • Kapital — Kapital empowers SMBs with a tech-banking platform giving visibility and control of their treasury, and their employees
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54 Collective
VC Fund · Johannesburg, NA - South Africa, South Africa · 1 investments in Zambia startups

Building and scaling African tech startups with catalytic capital, value-add support and our global network.

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Investment focus

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

Investor stats

  • Total investments: 111
  • Round size: Seed $40k–$4M; Pre-Seed $40k–$1.3M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • LipaLater — LipaLater is a lending marketplace that provides postpaid payments at e-commerce stores. They are making technology affordable for you. Get the electronic of your choice today and pay for it in comfortable monthly installments.
  • REasy — Top up locally, pay suppliers globally, and manage international shipments with REasy. Fast, secure, and designed for African businesses expanding worldwide.
  • Konnect — Konnect provides a cross borders payment solution intended to simplify complex financial flows allowing companies of any scale and size to send and receive payments in a practical, secure, and low-cost way.
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Growth Investment Partners
VC Fund · Accra, Greater Accra, Ghana · 1 investments in Zambia startups

Welcome to Growth Investment Partners - A custom built investment model that meets the needs of the growing entrepreneur.

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Investment focus

  • Industry: Mining, Farming, Mineral
  • Stage:Debt Financing, Private Equity
  • Geography: Ghana, Zambia

Investor stats

  • Total investments: 6
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Springs & Bolts — SBLC manufactures U – Bolts, Leaf Springs, Trailer Suspensions & exports to the West Africa n Sub-Region and also sells on the Ghana market.
  • Boxpack Zambia — Boxpack Zambia specialists in manufacturing Corrugated boxes.
  • Altus Financial Services — Altus Financial Services operates as a non-bank microfinance institution focused on providing short- to medium-term financing solutions to underserved segments. Its core business model utilizes customized credit evaluation structures, such as a payroll-deduction system, to disperse capital to public sector workers, small business owners, andmicro-entrepreneurs. The value proposition centers on expanding financial inclusion by delivering rapid loan approvals and flexible terms that accommodate clients who do not fit traditional bank appraisal checklists. This structured underwriting enables capital allocation across diverse sectors including farming, retail, construction, and manufacturing.
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Launch Africa
VC Fund · Ebène, Plaines Wilhems, Mauritius · 1 investments in Zambia startups, 7 in the past 12 months

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, Venture - Series Unknown
  • Geography: Nigeria, South Africa, United States

Investor stats

  • Total investments: 217
  • Round size: Seed $200k–$4M; Pre-Seed $200k–$1.8M; Venture - Series Unknown $200k–$500k
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — raised $36M in 2022

Portfolio highlights

  • Zazu — Zazu is a neobank for African SMEs, offering seamless banking tools, cash flow automation, and real-time insights. Zazu simplifies finance management in one all-in-one solution.
  • Fincart — Fincart is a leading shipping platform in Egypt, connecting your business with top courier services, automating operations, and helping you scale your eCommerce logistics.
  • Udu Technologies — Udu Technologies is an AI infrastructure company that offers GPU systems, AI platform integration, and technical support services.
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Twilio
VC Fund · San Francisco, California, United States · 1 investments in Zambia startups

Build amazing customer experiences on the Twilio platform with APIs for SMS, RCS, voice, and email, plus conversational AI for smarter engagement, and identity verification for trust.

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Investment focus

  • Industry: Software, Artificial Intelligence, Machine Learning
  • Stage:Series A, Seed, Series B
  • Geography: United States, Egypt, Brazil

Investor stats

  • Total investments: 37
  • Round size: Seed $195k–$1.7M; Series A $7.6M–$24M; Series B $7.6M–$40M
  • Lead/follow: 14% lead, 86% follow
  • Last fund: Likely still investing — raised $50M in 2021

Portfolio highlights

  • Coval — Simulation and evaluation for AI agents (chat & voice agents)
  • Deepgram — Deepgram helps enterprises unlock the potential of their audio data with custom-trained speech recognition for accuracy and scale. Deepgram's deep learning speech recognition system searches for keywords in transcripts by sound and text within audio and video files, used for transcribing calls, meetings, and voicemails for searchable notes,providing businesses with a fast, high accuracy speech-to-text on an easy-to-use API.The company was founded in 2015 and is headquartered in San Francisco, California.
  • Rime — AI voice models built for real-time conversations. 600+ voices, 50+ languages, sub-100ms latency. Trusted by global enterprise.
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Acumen
VC Fund · New York, New York, United States · 1 investments in Zambia 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, Solar, Financial Services
  • Stage:Seed, Series A
  • Geography: United States, India, Kenya

Investor stats

  • Total investments: 186
  • Round size: Seed $300k–$2.5M; Series A $1.6M–$12M
  • Lead/follow: 49% lead, 51% follow
  • Last fund: May invest from a new fund soon — raised $2.8M in 2019

Portfolio highlights

  • Sproxil — Sproxil is an information technology company that focuses on supply chains and consumer engagement. It specializes in brand protection, consumer engagement, anti-counterfeiting, product authentication, and consumer promotions. The company was founded in 2009 and headquartered in Cambridge, Massachusetts.
  • Orb Energy — Orb Energy is a vertically integrated solar company that manufactures solar panels, design, install, and services complete system, and finance C&I customers.
  • MindRight Health — MindRight Health is a tech startup that provides mental health coaching over text message to empower communities to heal from trauma
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Inside Capital Partners
VC Fund · Ebène, Plaines Wilhems, Mauritius · 1 investments in Zambia startups

Inside Capital Partners (“Inside”) is an independent private equity manager aiming to invest through equity in strong potential opportunities in selected Southeast African countries.Inside believes that access to high level information, a strong focus on selected geographies and enterprises along with a strong network of operational andbusiness experts, are key to enhancing value creation.For this reason, the Inside team, which is composed of people with strong ties to the region, operates through its offices in Mauritius and Zambia, and from its network of partners in the other selected countries.Inside also works in close proactive partnerships with entrepreneurs, and leverages on its network of experts, to fast track the development of small and medium-sized enterprises.

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Investment focus

  • Industry: mHealth, Education, Health Care
  • Stage:Series A, Private Equity, Venture - Series Unknown
  • Geography: Zambia, Madagascar, United States

Investor stats

  • Total investments: 3
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Drive Health — Reduce administrative burden and support your care team. Avery is a clinical workflow automation engine that handles routine tasks like patient outreach and message triage under strict clinician oversight, returning time to the bedside.
  • RDG Africa — Empowering the Future, one solar system at a time
  • Hautes Études Pratiques Internationales — Hautes Études Pratiques Internationales is a private higher‑education platform that runs degree‑level programmes.
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Not Boring Capital
VC Fund · Seattle, Washington, United States · 1 investments in Zambia startups

Behind-the-Scenes of Raising a Fund to Invest in Companies with Stories to Tell

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Investment focus

  • Industry: Software, FinTech, Cryptocurrency
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Canada, Zambia

Investor stats

  • Total investments: 39
  • Round size: Seed $3.3M–$25M; Pre-Seed $400k–$4.4M; Series A $7.5M–$32M
  • Lead/follow: 0% lead, 100% follow
  • Last fund: Likely still investing — raised $30M in 2023

Portfolio highlights

  • Convoke — The AI-native operating system for drug development
  • Daylight — Anode Labs is leveraging web3 infrastructure to build the world's largest virtual power plant.
  • Somos Internet — Somos Internet is a network and telecommunications startup that provides latest generation internet with a fast, secure, stable connection. The company was founded in 2018 and is headquartered in Medellín, Antioquia, Colombia.
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AgDevCo
VC Fund · London, England, United Kingdom · 1 investments in Zambia startups

AgDevCo is a social impact investor and agribusiness project developer, incorporated as a non-for-profit distribution, limited companyin.

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Investment focus

  • Industry: Farming, Agriculture, AgTech
  • Stage:Debt Financing, Venture - Series Unknown
  • Geography: Kenya, Ethiopia, Mauritius

Investor stats

  • Total investments: 15
  • Round size: Debt Financing $15k–$10M
  • Lead/follow: 87% lead, 13% follow

Portfolio highlights

  • EthioChicken — EthioChicken is a poultry producing companies in East Africa in which the operative companies are AGP Poultry PLC (AGP), Mekelle Farms Ltd (MKF) and Andasa Poultry PLC.
  • Planting Naturals — Planting Naturals is a group of companies focused to the long-term production of organic products. Planting Naturals was founded by Kevin Godlington.
  • Dekel Agri-Vision — Dekel Agri-Vision which is engaged in developing and cultivating palm oil plantations in Cote d'lvoire.
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Earl Grey Capital
VC Fund · 1 investments in Zambia startups

Earl Grey Capital is a investment firm.

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Investment focus

  • Industry: Information Technology, SaaS, Software
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, India, Canada

Investor stats

  • Total investments: 20
  • Round size: Seed $2.2M–$13M; Pre-Seed $1M–$5M; Series A $12M–$14M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • CrewAI — A cutting-edge framework for orchestrating role-playing, autonomous AI agents that work together seamlessly to tackle complex tasks.
  • Dreambase — AI-Native Analytics for @Supabase
  • The Clearing Company — A new kind of prediction market.
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Global Partnerships/Eleos Social Venture Fund
VC Fund · Seattle, Washington, United States · 1 investments in Zambia startups

Global Partnerships' Social Venture Fund bridges the pioneer gap in sub-Saharan Africa by providing impact-led funding to early-stage social enterprises.

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Investment focus

  • Industry: Logistics, Agriculture, Car Sharing
  • Stage:Series A, Series B, Seed
  • Geography: Uganda, Zambia, United States

Investor stats

  • Total investments: 5
  • Round size: Series A $2.1M–$6.3M; Series B $8.5M–$10M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Tugende — Tugende helps motorcycle taxi drivers own their own motorcycles in eighteen months or less instead of renting indefinitely. Ownership significantly increases income, job security and road safety.
  • Good Nature Agro — Their priority is to generate lasting income with small-scale farmers. They build local community leaders into qualified Private Extension Agents (PEAs) who oversee and train farmers throughout the growing season. They support PEAs to provide frequent trainings and personalized recommendations on how their growers can make their field healthier andmore productive. PEAs promote improved farm practices and deliver a farmer-friendly loan of seeds and additional inputs. At harvest, Good Nature is a guaranteed market for the certified legume seed that their growers produce. Choosing to produce these high-value crops over traditional cash crops - maize and cotton - more than doubles their income.
  • YYTZ Agro-Processing — YYTZ Agro-Processing specializes in sourcing and processing cashew nuts.
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FINCA Ventures
VC Fund · Washington, District of Columbia, United States · 1 investments in Zambia startups, 7 in the past 12 months

FINCA Ventures is an impact investing initiative of FINCA International that provides patient capital and support to early-stage social enterprises.

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Investment focus

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

Investor stats

  • Total investments: 32
  • Round size: Seed $1.1M–$4M; Grant $40k–$100k; Series A $1.1M–$4.2M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Karpolax — Offering innovative fruit preservation products! For the grower, the packer, and the retailer.
  • Silo Africa — Silo Africa is a Grain Storage & Logistics Startup Company.
  • Affinity — Join over 125,000 who trust the Affinity mobile app to manage their banking needs, from savings to payments, as well as instant loans
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Private Infrastructure Development Group
VC Fund · London, England, United Kingdom · 1 investments in Zambia startups

Private Infrastructure Development Group is an infrastructure development firm that offers finance and funds for economic growth.

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Investment focus

  • Industry: Energy, Renewable Energy, Solar
  • Stage:Grant, Debt Financing, Series C
  • Geography: Kenya, Zambia, Senegal

Investor stats

  • Total investments: 9
  • Round size: Grant $66k–$17M; Series C $50M–$50M; Debt Financing $2.5M–$20M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • SupaMoto — Supamoto is a social enterprise that aims to provide clean energy solutions. The company's main product is the Supamoto cookstove, a pellet gasifier stove designed for field testing in multiple African locations. This stove is part of the company's commitment to renewable home energy. Supamoto also offers opportunities for individuals toinvest in Zambia's renewable energy sector, further promoting the use of clean energy. The company has a significant impact on the renewable energy industry, as evidenced by its various campaigns and initiatives.
  • LOCA — Get Around Like a Local with LOCA
  • Sanivation — Delivering fecal sludge treatment plants and sanitation services to secondary cities and #refugeecamps in #Kenya. #socent #waste2fuel
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Patrick J. McGovern Foundation
VC Fund · Boston, Massachusetts, United States · 1 investments in Zambia startups

Patrick J McGovern Foundation advances AI and data innovation for global social impact. Supporting changemakers with technology solutions for equity and sustainability.

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Investment focus

  • Industry: Non Profit, Education, Health Care
  • Stage:Grant, Seed, Pre-Seed
  • Geography: United States, United Kingdom, Switzerland

Investor stats

  • Total investments: 210
  • Round size: Grant $100k–$750k
  • Lead/follow: 89% lead, 11% follow

Portfolio highlights

  • AI4ALL — AI4ALL opens doors to artificial intelligence for historically excluded talent through education and mentorship.
  • AImpower.org — AImpower.org is a non-profit organization that enhances the ability of automatic speech recognition models to recognize stuttering speech.
  • STEMarts Labs — STEMarts Labs creates interactive experiences that empower youth and communities via the intersection of art, science, and technology.
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Tamboti Circle
VC Fund · 1 investments in Zambia startups

Tamboti Circle is an investment firm.

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Investment focus

  • Stage:Pre-Seed
  • Geography: Zambia

Investor stats

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

Portfolio highlights

  • Duniya Healthcare — Duniya Healthcare helps retail pharmacies to source their medicines from wholesalers.
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Zenga Ventures
VC Fund · 1 investments in Zambia startups

Zenga Ventures is an investing firm for startups.

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Investment focus

  • Industry: Apps, Software, Business Information Systems
  • Stage:Seed
  • Geography: Zambia

Investor stats

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

Portfolio highlights

  • ZPOS — ZPOS is currently undergoing maintenance. Please check back soon.
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Norfund
VC Fund · Oslo, Oslo, Norway · 1 investments in Zambia startups

Norwegian investment fund for developing countries

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Investment focus

  • Industry: Financial Services, Energy, Renewable Energy
  • Stage:Private Equity, Debt Financing
  • Geography: Kenya, South Africa, Nigeria

Investor stats

  • Total investments: 104
  • Round size: Debt Financing $2.2M–$156M; Private Equity $7.4M–$125M
  • Lead/follow: 63% lead, 37% follow
  • Last fund: May invest from a new fund soon — last raise in 2009

Portfolio highlights

  • CrossBoundary — CrossBoundary Energy's renewable energy solutions help decarbonize enterprise by providing cleaner, cheaper and more reliable power.
  • mopo — Mobile Power's innovative pay-per-use battery sharing network unlocks clean energy for households, businesses and electric transport in Sub-Saharan Africa.
  • Yarych Confectionery — Yarych Confectionery operates as a packaged biscuits producer. Yarych Confectionery provides packaged biscuits market with its branded Maria, petit beurre and The Crackers biscuits.
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Jordan Engineering
VC Fund · 1 investments in Zambia startups

Jordan Engineering

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Investment focus

  • Industry: Agriculture, Financial Services
  • Stage:Seed
  • Geography: Zambia

Investor stats

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

Portfolio highlights

  • Rent To Own Africa — Rent To Own provides affordable financing to high capacity entrepreneurs in rural communities across Zambia. Rent To Own variety of rental arrangements helps business owners build assets and expand their own services. Beyond traditional asset financing, Rent To Own adapts its services and to the individual needs of each client, including guidedasset selection process, direct distribution and one-on one training for maintenance and proper equipment usage. The company unique six-step loan process mitigates repayment risk and ensures that the equipment is being used optimally.
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Finnfund
VC Fund · Helsinki, Southern Finland, Finland · 1 investments in Zambia startups

Finnfund is a Finnish development finance company that provides long-term risk capital for private projects in developing countries. Apart from co-investing with Finnish companies they can finance ventures that use Finnish technology, cooperate with Finnish partners on a long-term basis or generate major environmental or social benefits.

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Investment focus

  • Industry: Financial Services, Energy, FinTech
  • Stage:Debt Financing, Series B
  • Geography: Kenya, India, South Africa

Investor stats

  • Total investments: 68
  • Round size: Series B $5M–$41M; Debt Financing $2.7M–$135M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Mobisol — We transform lives through solar energy access. Our solar home systems and mini-grids benefit millions of people in Sub-Saharan Africa.
  • TPL Insurance — TPL Insurance is a Pakistan's first direct insurance company that take care of all insurance related matters.
  • Transvolt Mobility — Transvolt Mobility is an early-stage, technology-driven EV fleet operator, enabling India’s transition to sustainable, zero-emission transport by providing a scalable, multi-partner platform for commercial electric mobility across urban and industrial segments.
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Atom CTO
VC Fund · London, England, United Kingdom · 1 investments in Zambia startups

Atom CTO specializes in providing expert Chief Technology Officer (CTO) guidance, software development, and technology due diligence services. The company focuses on empowering ideas and driving success for founders, businesses, and investors. Atom CTO offers a range of services aimed at non-technical founders and companies in need of technicalleadership and software development expertise. Through its podcast, Atom CTO shares insights, challenges, and triumphs of tech pioneers, aiming to spark innovation and support budding entrepreneurs. The company also engages in partnerships to blend technology expertise with industry-specific needs, such as the integration of blockchain and FinTech solutions.

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Investment focus

  • Industry: Apps, Education, E-Learning
  • Stage:Seed
  • Geography: Zambia

Investor stats

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

Portfolio highlights

  • Koloso — Koloso is a digital assessment app that gives teachers the real-time, reliable, individual learning insights they need to get the best out of every child.
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bettervest GmbH
VC Fund · Frankfurt, Hessen, Germany · 1 investments in Zambia startups

bettervest is a crowdinvesting platform that enables people to jointly invest individual sums of money – from as little as 50€ onward – in renewable energy, energy and resource efficiency projects initiated by established enterprises, NGOs and local municipalities. In return, investors benefit financially from the resulting cost and energy savings.The bettervest platform has thus opened up the energy efficiency market to private investors. With these targeted investments ecologically and economically viable energy efficiency measures are able to be implemented, leading to cost, energy and CO2 reductions.

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Investment focus

  • Industry: Energy, Information Technology, Social Entrepreneurship
  • Stage:Debt Financing
  • Geography: Zambia

Investor stats

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

Portfolio highlights

  • Emerging Cooking Solutions — Emerging Cooking Solutions manufactures and distributes SupaMoto® clean-burning stoves and biomass cooking fuel for low-income urban families in Zambia, improving air conditions and reducing the need for fossil fuels.Emerging Cooking Solutions seeks to serve the 850,000 low-income urban households in Zambia that are in need of a cheaperalternative to charcoal for their cooking needs as well as the 150,000 higher-income households that are in need of a higher-performing alternative to charcoal that is more reliable during power cuts.Emerging Cooking Solutions manufactures and distributes SupaMoto® stoves and densifies waste biomass into fuel pellets, which together create an improved cooking solution that is a cheaper and healthier alternative than charcoal and other fossil fuels. Use of the stove and fuel reduces the incidence of diseases caused by indoor air pollution and strengthens local economics through the use of sustainable fuels.
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Renew Capital
VC Fund · Addis Ababa, Adis Abeba, Ethiopia · 1 investments in Zambia 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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Oikocredit International
VC Fund · Amersfoort, Utrecht, The Netherlands · 1 investments in Zambia startups

Invest in People with Oikocredit and use your money to create change. giving people opportunity to build better lives. Invest Now

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Investment focus

  • Industry: Financial Services, Finance, FinTech
  • Stage:Debt Financing, Series B
  • Geography: India, Nigeria, Kenya

Investor stats

  • Total investments: 63
  • Round size: Series B $3.5M–$24M; Debt Financing $1.5M–$18M
  • Lead/follow: 44% lead, 56% follow

Portfolio highlights

  • Djamo — Djamo is a Provider of financial applications to allow customers to use their cards with zero fees in a wide range of services.
  • Prestamype — Prestamype was launched in 2017 with the aim of providing a broader access to funding to micro and small businesses, with better credit conditions. With its first product, a secured working capital loan with a real estate collateral, it has lent over USD 24 million to 750 Peruvian entrepreneurs (as of 1st of October 2021). In 2019, Prestamypelaunched its online FX platform called Cambio Seguro. In 2020, the company launched its digital factoring product. In 2021, INCA Ventures and Angel Ventures Peru (AVP), two leading funds in Peru, invested in the company.
  • Sindhuja Microcredit — Sindhuja Microcredit is a new generation digital and rural-focused Micro Finance Institution (MFI) providing financial services to the bottom of the pyramid self-employed women entrepreneurs.
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Danish Investment Fund for Developing Countries
VC Fund · 1 investments in Zambia startups

Danish Investment Fund for Developing Countries

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Investment focus

  • Industry: Energy, Renewable Energy, Water
  • Stage:Private Equity, Venture - Series Unknown
  • Geography: France, Zambia, Myanmar

Investor stats

  • Total investments: 4
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Eranove — The Eranove group counts more than 9000 employees all engaged in developping hydroelectric solutions to allow all the pan african citizens to access electricity and drinking water
  • Africa GreenCo — Our mission - addressing creditworthiness to increase generation and growth of renewable energy markets through partnerships and innovative solutions.
  • Alliance for Microfinance in Myanmar — Microfinance in Myanmar
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GreenTec Capital Partners
VC Fund · Frankfurt, Hessen, Germany · 1 investments in Zambia 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: Logistics, Information Technology, Retail
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • 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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Opes Impact Fund
VC Fund · Milano, Lombardia, Italy · 1 investments in Zambia 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:Venture - Series Unknown, Seed
  • 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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Johnson & Johnson Foundation
VC Fund · 1 investments in Zambia startups

The Johnson & Johnson Foundation is a registered charitable organization that reflects the commitment of the Johnson & Johnson Family of Companies to keeping people well at every age and every stage of life by blending heart, science, and ingenuity to profoundly change the trajectory of health for humanity.

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Investment focus

  • Industry: Health Care, Medical, Health Diagnostics
  • Stage:Grant, Seed, Pre-Seed
  • Geography: Brazil, United States, Colombia

Investor stats

  • Total investments: 18
  • Round size: Grant $25k–$50k
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • Sofya — Sofya AI is a healthcare AI platform that uses NLP and voice tech to boost patient engagement and streamline clinical workflows.
  • Kintsu — Kintsu operates as a healthtech platform that bridges the gap between patients, healthcare professionals, and institutions.
  • Salva Health — Salva Health is a healthcare solutions provider company that develops products to enable the prevention and early detection of diseases.
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FMO
VC Fund · The Hague, Zuid-Holland, The Netherlands · 1 investments in Zambia startups

FMO is a financial investment firm that specializes in financing businesses and projects FMO invests across the agribusiness value chain to enhance food security, support sustainability and promoting inclusive development.

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Investment focus

  • Industry: Financial Services, Finance, Renewable Energy
  • Stage:Debt Financing, Post-IPO Debt, Series B
  • Geography: India, Kenya, The Netherlands

Investor stats

  • Total investments: 194
  • Round size: Series B $4.5M–$46M; Post-IPO Debt $25M–$420M; Debt Financing $5M–$195M
  • Lead/follow: 55% lead, 45% follow

Portfolio highlights

  • SolarSaver — We provide customised rooftop solar PV solutions to corporate, industrial customers in Namibia & SA through its proprietary zero-capital financing model.
  • Coris Holding — Coris Holding is a financial institution that was established with the motive to provide support to SMEs and SMIs.
  • Yednist' Group — Yednist’ Group is one of the largest agri-processing holdings in Ukraine operating in the following segments: production of bulk feed, packaged feed, premixes and concentrates; veterinary drugs distribution; pet goods distribution. Yednist’ Group operates five production facilities with a total annual capacity of 600 thousand tonnes, including 30thousand tonnes of premixes and concentrates.
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Goodwater Capital
VC Fund · Burlingame, California, United States · 1 investments in Zambia startups

Consumer Tech Investors - We empower exceptional entrepreneurs everywhere to change the world for good.

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Investment focus

  • Industry: FinTech, Financial Services, Software
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, India, South Korea

Investor stats

  • Total investments: 875
  • Round size: Seed $850k–$7.5M; Pre-Seed $125k–$2.1M; Series A $4.5M–$31M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Kaon — Chat with AI characters for free on FlowGPT! More than 1 million characters and bots to chat with, AI boyfriend, girlfriend, uncencored chat and AI tools.
  • RedotPay — Where Crypto Meets Real Life | Trusted by 8M+ | Accepted at 130M+ merchants | Pay with BTC, ETH, USDC, USDT & more
  • Pure — Pure Poker is a privately held fintech and software company that develops a legal, compliant, rake-free real-money online poker platform. Headquartered in San Francisco, California, the company replaces the traditional casino "house" model with a trusted, identity-verified social gaming network.
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Shell Foundation
VC Fund · London, England, United Kingdom · 1 investments in Zambia startups

Shell Foundation is a philanthropic foundation that enables millions of people in Africa and Asia to increase their incomes with clean energy solutions.

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Investment focus

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

Investor stats

  • Total investments: 30
  • Round size: Seed $790k–$1.7M; Grant $300k–$5.5M; Debt Financing $4.3M–$53M
  • Lead/follow: 37% lead, 63% follow

Portfolio highlights

  • Kofa — Kofa is an automotive company that utilizes the latest electric battery and motor technology. The company aims to develop an affordable, sustainable and customer driven electric network in transformative energy, transport, and climate change around the globe. Kofa was founded in Ghana and is headquartered in Accra.
  • Sistema.bio — Sistema.bio is a biodigester with biogas appliances. High efficiency biodigesters transform organic waste into renewable biogas.
  • Mufin Green Finance — Mufin Green Finance is an NBFC that specialises in the electric vehicle (EV) market.
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EDFI Management Company
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Zambia startups

EDFI Management Company (EDFI MC) is a multilaterally owned impact asset manager which delivers innovative development finance solutions that enable European DFIs, development banks and private sector investors to increase the scale and impact of their work. The company focuses on business models, technologies and geographies where other investorshave not been able to operate at the desired scale given their resources and investment criteria. To learn more visit www.edfimc.eu.

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Investment focus

  • Industry: Renewable Energy, Energy, Solar
  • Stage:Debt Financing, Series B, Venture - Series Unknown
  • Geography: Zambia, Benin, Ghana

Investor stats

  • Total investments: 10
  • Round size: Series B $7M–$15M; Debt Financing $3.3M–$9M; Venture - Series Unknown $2.6M–$4.2M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Sawa Energy — Sawa energy is an affordable, predictable solar electricity solution to power Rwandan businesses with clean and renewable energy.
  • Complete Farmer — Complete Farmer connects growers, buyers, and vendors with technology, support, and market access across Ghana and beyond.
  • Good Nature Agro — Their priority is to generate lasting income with small-scale farmers. They build local community leaders into qualified Private Extension Agents (PEAs) who oversee and train farmers throughout the growing season. They support PEAs to provide frequent trainings and personalized recommendations on how their growers can make their field healthier andmore productive. PEAs promote improved farm practices and deliver a farmer-friendly loan of seeds and additional inputs. At harvest, Good Nature is a guaranteed market for the certified legume seed that their growers produce. Choosing to produce these high-value crops over traditional cash crops - maize and cotton - more than doubles their income.
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InfraCo Africa
VC Fund · London, England, United Kingdom · 1 investments in Zambia startups

As of 1 August 2025, infracoafrica.com and infracoasia.com content has been moved over to pidg.org.

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Investment focus

  • Industry: Renewable Energy, Solar, Energy
  • Stage:Seed, Series B
  • Geography: Kenya, India, France

Investor stats

  • Total investments: 13
  • Round size: Seed $1.5M–$3.4M; Series B $9M–$28M
  • Lead/follow: 54% lead, 46% follow

Portfolio highlights

  • Afresco — The next generation in commercial and industrial (C&I) energy for Africa
  • SunCulture — At SunCulture, we strive to solve the biggest daily challenges of smallholder farmers. We use off-grid solar technology to provide our customers with reliable access to water, irrigation, lighting, and mobile charging, and we can do all of that with a single system.
  • Mawingu Networks — Unlimited internet packages for your home and office. 24/7 customer support. Get connected today, starting from 2,500 per month!
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Blockchain Founders Fund
VC Fund · Singapore, Central Region, Singapore · 1 investments in Zambia 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: 263
  • Round size: Seed $550k–$6M; Pre-Seed $200k–$2.5M
  • Lead/follow: 13% lead, 87% follow
  • Last fund: Likely still investing — raised $75M in 2022

Portfolio highlights

  • Rilla — Demonstrating 90% reduction in cost-to-serve for live-streaming, Rilla is rewiring the content economy, directing the value generated back to creators and their communities.By leveraging audience bandwidth and rewarding them with ownership in the network, the savings are equivalent to a free month subscription every year for a moderate level ofviewership.Founded by the technical founders behind Altered State Machine, acquired for 214m. Together for 5+ ventures, collectively raising 130m+ and valued at 1b+.
  • Osmo — Osmo is a payment company that helps people to send and receive money immediately.
  • Uniblock — Uniblock helps connect developers with Web3 using our APIs and services. Our developers use Uniblock because of how easy it is to integrate into exciting applications. Try it for free today!
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VC funding in Zambia at a glance

Stats across 116 deals from 105 investors.

105
investors
in Zambia startups
116
deals
in Zambia startups
$2M
median round
in Zambia startups
56%
lead investors
lead at least one round
23%
Grant
most common funding stage

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