# Top 50 B2B Startup Investors in Africa in October 2023

## Loyal VC
- Type: VC Fund
- Location: Toronto, Ontario, Canada
- Relevant deals: 4
- Stages: Pre-Seed, Seed
- Focus: Software, Artificial Intelligence, E-Commerce

Loyal runs a global venture fund with quarterly redemptions and a proprietary gate-stage process, reducing investment bias and unlocking greater returns. Partnered with INSEAD, Founder Institute, and 500+ advisors, we are Loyal to the world with 250+ investments in 50+ countries.

## Future Africa
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 4
- Stages: Seed, Pre-Seed, Series A
- Focus: Financial Services, FinTech, Information Technology

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

## Consonance Investment Managers
- Type: VC Fund
- Location: Lagos, Lagos, Nigeria
- Relevant deals: 3
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, Information Technology, FinTech

We are an investment company focused on helping early and growth-stage entrepreneurs build successful companies in Africa.

## LoftyInc Capital Management
- Type: VC Fund
- Location: Carmel, California, United States
- Relevant deals: 3
- Stages: Seed, Pre-Seed, Series A
- Focus: FinTech, Financial Services, Software

LoftyInc Capital Management empowers Afropreneurs to build a prosperous and equitable future in Africa. We deliver value to both founders and investors.........

## CRE Venture Capital
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 3
- Stages: Seed, Series A, Pre-Seed
- Focus: Financial Services, FinTech, Software

Founded in 2015, CRE Venture Capital invests in early stage tech companies that are levered to Africa. CRE is headquartered in the New York metro area, with a regional office in Lagos, Nigeria.

## Harambeans
- Type: VC Fund
- Relevant deals: 3
- Stages: Seed, Angel, Grant
- Focus: Supply Chain Management, Transportation, Information Technology

Harambeans are African innovators who have pledged to “work together as one” to build Africa’s future. Over the last decade, Harambeans has spawned a series of tech-enabled ventures such as Andela, Flutterwave, and Yoco, which have collectively generated over 3000 jobs, and raised over $700m from Google Ventures, CRE Ventures and Accel.

## Musha Ventures
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 3
- Stages: Seed, Pre-Seed, Series A
- Focus: Financial Services, Software, FinTech

Seed capital for technology startups globally.

## Orange Ventures
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 3
- Stages: Seed, Series B, Series C
- Focus: Software, FinTech, Financial Services

Orange Ventures is the Venture Capital Fund of the Orange Group, with 350m euros under management

## Chandaria Capital
- Type: VC Fund
- Location: Nairobi, Nairobi Area, Kenya
- Relevant deals: 3
- Stages: Seed, Series A, Pre-Seed
- Focus: E-Commerce, FinTech, Software

Chandaria Capital operates as a venture capital Fund. We believe that innovative ideas will transform Africa. We invest, mentor, and work together with incredible entrepreneurs to create impactful companies that can change the continent.

## DOB Equity
- Type: VC Fund
- Location: Veessen, Gelderland, The Netherlands
- Relevant deals: 2
- Stages: Private Equity, Seed
- Focus: Food and Beverage, Farming, Health Care

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

## VestedWorld
- Type: VC Fund
- Location: Chicago, Illinois, United States
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: Agriculture, E-Commerce, Financial Services

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.

## Waarde Capital
- Type: VC Fund
- Location: Moscow, Moscow City, Russian Federation
- Relevant deals: 2
- Stages: Convertible Note, Series B
- Focus: B2B, Manufacturing, Information Technology

Waarde Capital is an investment company founded by entrepreneurs for entrepreneurs. As such, they are well positioned to identify and support best companies with strong entrepreneurs.With three active funds under management, including LBO, growth equity, and venture fund, it invests practically on every stage of the business lifecycle, and do itglobally. Waarde invests in Europe, US, Israel, Russia, and Southeast Asia.Waarde Capital brings funding and assists in the strategic development of portfolio companies and, if necessary, offers debt financing that may significantly increase the value of the co-owned equity.Waarde Capital invests in Russia, Europe and the USA.Waarde Capital’s management team brings about 150 years of accumulated business experience of it's partners in Russia and other countries. Managing partners are skilled entrepreneurs who became professional investors.

## Stephen Pagliuca
- Type: Angel
- Location: Boston, Massachusetts, United States
- Relevant deals: 2
- Stages: Series B, Series A
- Focus: Real Estate, Media and Entertainment, Sports

Stephen G. Pagliuca has served as a director from July 1990 (except for a six month hiatus beginning in late 2009 when he entered the Massachusetts U.S. Senate race).Mr. Pagliuca is a Managing Director of Bain Capital Partners, LLC and is also a Managing Partner and an owner of the Boston Celtics basketball franchise. Mr. Pagliuca joined Bain& Company in 1982, and founded the Information Partners private equity fund for Bain Capital in 1989.Prior to joining Bain, Mr. Pagliuca worked as a senior accountant and international tax specialist for Peat Marwick Mitchell & Company in the Netherlands.

## Reflect Ventures
- Type: VC Fund
- Location: Menlo Park, California, United States
- Relevant deals: 2
- Stages: Seed, Series A, Pre-Seed
- Focus: Information Technology, Logistics, E-Commerce

Reflect Ventures makes venture capital investments in high-potential startups at the seed and series A/B+ stages. We identify extraordinary founders, companies and opportunities around the world, including in emerging and frontier markets. Our LPs comprise family offices, institutional investors and HNWIs on six continents, along withrecognized sector experts who are instrumental to our portfolio companies' future growth.

## Logos Ventures
- Type: VC Fund
- Relevant deals: 2
- Stages: Seed, Pre-Seed
- Focus: B2B, FinTech, Logistics

Logos Ventures is a venture capital investment firm.

## Janngo
- Type: VC Fund
- Location: Abidjan, Lagunes, Côte d'Ivoire
- Relevant deals: 2
- Stages: Seed
- Focus: B2B, Logistics, E-Commerce

Janngo supports entrepreneurs who leverage technology to massify three impacts on the continent:
1/ Essential services & products for African consumers,
2/ Growth acceleration of African SMEs, and
3/ Job creation, in particular for women & youth

## Launch Africa
- Type: VC Fund
- Location: Ebène, Plaines Wilhems, Mauritius
- Relevant deals: 2
- Stages: Seed, Pre-Seed
- Focus: Financial Services, FinTech, Information Technology

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.

## Enza Capital
- Type: VC Fund
- Location: Nairobi, Nairobi Area, Kenya
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Logistics, E-Commerce, B2B

Venture investor in high-growth Founders and Teams using technology to solve large and meaningful problems across Africa

## Ardent Capital
- Type: VC Fund
- Location: Bangkok, Krung Thep, Thailand
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: E-Commerce, Internet, Software

Leading Venture Capital & Builder in Southeast Asia | Experts in E-Commerce, B2B, B2C, Fulfilment Startups | Seed, Series A Funding

## Justin Kan
- Type: Angel
- Location: San Francisco, California, United States
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, Financial Services, E-Commerce

Justin Kan is the Co-Founder of Fractal. He attended Yale University.

## Proparco
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Debt Financing, Series B
- Focus: Financial Services, Finance, Energy

Proparco is devoted to private sector funding in the sustainable development sector.

## Mato Perić
- Type: Angel
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: Financial Services, FinTech, E-Commerce

Mato invests in technology companies globally. His portfolio companies have raised over US$ 5 billion in capital, employ >15,000 people and have operations in 35 countries across six continents.

## Alumni Ventures
- Type: VC Fund
- Location: Manchester, New Hampshire, United States
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Software, Information Technology, Health Care

Alumni Ventures offers diversified venture portfolios to accredited investors into highly competitive deals that individuals typically do not have access to on their own.

## The MasterCard Foundation
- Type: VC Fund
- Location: Toronto, Ontario, Canada
- Relevant deals: 1

The Mastercard Foundation seeks a world where everyone has the opportunity to learn and prosper. Our focus is helping young people in Africa access opportunity by advancing education and financial inclusion.

## Atlas Benjelloun
- Type: Angel
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Series A, Seed, Series C
- Focus: Software, Cryptocurrency, Financial Services

Atlas Benjelloun invest and support curious, mission-minded people who are committed to solving the Internet’s toughest challenges.

## LocalGlobe
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Financial Services, E-Commerce

Seeding ambitious founders at places like @citymapper, @improbableio,@teamkano, @moo, @songkick,@seedcamp, @transferwise and @zoopla since 1999. Who's next?

## Réseau Entreprendre
- Type: VC Fund
- Location: Roubaix, Nord-Pas-de-Calais, France
- Relevant deals: 1
- Stages: Seed, Angel
- Focus: Software, Information Technology, E-Commerce

Réseau Entreprendre is a registered charity French association providing financial support to entrepreneurs.


## Flexport
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Logistics, Software, E-Commerce

Cut costs, automate workflows, reliably move goods, go carbon-neutral, and improve your supply chain from end to end. It all starts here.

## DNA Capital
- Type: VC Fund
- Location: São Paulo, Sao Paulo, Brazil
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Health Care, Medical, Wellness

DNA Capital is an investment partnership specializing in multi-stage investments in the healthcare sector.

## Fedgroup
- Type: VC Fund
- Location: Johannesburg, NA - South Africa, South Africa
- Relevant deals: 1
- Stages: Seed
- Focus: B2B, Insurance, Financial Services

Fedgroup is an independent investment and insurance company investing in smart technology and provides employee benefits and investment plans. Their in-house administration systems respond to their clients needs efficiently and effectively that drives down the cost of their products. The company's investment is backed up by participation bondsthat make it secure. Through their finance structure, the company facilitates the ownership of commercial property for business owners or investors who wish to diversify their portfolios.Fedgroup was founded in 1990 and is headquartered in Johannesburg, South Africa.

## Partech
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Software, E-Commerce, Financial Services

Partech is a global venture capital firm with offices in San Francisco, Paris, Berlin and Dakar. Partech invests in Internet and information technology startups at seed, venture and growth stages.

## CDG Invest
- Type: VC Fund
- Location: Rabat, Rabat-Sale-Zemmour-Zaer, Morocco
- Relevant deals: 1
- Stages: Pre-Seed, Seed, Convertible Note
- Focus: Apps, Software, Internet

CDG Invest is the investment branch of the CDG group. CDG Invest acts both as an investment manager for its own account following both financial and strategic logic, as well as as a fund manager for third parties. CDG Invest intervenes in various key sectors of the Moroccan economy: industry, agro-food, digital/digital, renewable energy, andterritorial PPP and with various segments of companies.

## Speedinvest
- Type: VC Fund
- Location: Vienna, Wien, Austria
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, FinTech, Financial Services

Speedinvest is one of Europe’s most active early-stage investors, with more than €400m AUM, 40 investors, and offices in Berlin, London, Munich, Paris, Vienna and San Francisco. Your success is our priority, so we don’t just send some money and "check in" at board meetings. Our mission is to empower you with game-changing support throughevery stage of your journey. Our focused investment teams know your industry inside and out. Their Deep Tech, Fintech, Industrial Tech, Network Effects, Digital Health and Subscriptions experience, know-how and deep networks are yours from day one. You also have full access to our in-house Platform+ team of operational experts who can provide tailored growth marketing, people (HR), US business development, and networking support throughout every stage of your journey.

## SBI Investment
- Type: VC Fund
- Location: Minato, Chiba, Japan
- Relevant deals: 1
- Stages: Series B, Series A
- Focus: Financial Services, Information Technology, Software

SBI Investment supports the business development and growth of private venture companies through fund investment.

## Foundamental
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: Construction, Software, Real Estate

The global investor in construction, mining and renovation technology.

## Vijay Shankar
- Type: Angel
- Location: Sydney, New South Wales, Australia
- Relevant deals: 1
- Stages: Seed, Series A, Series C
- Focus: FinTech, Software, Financial Services

Vijay Shankar

## Haskè Ventures
- Type: VC Fund
- Location: Dakar, Dakar, Senegal
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: B2B, Retail, Banking

Haskè Ventures is a venture builder based in Dakar and focused on transforming the startup landscape.

## Jigsaw VC
- Type: VC Fund
- Location: St. Helier, NA - Jersey, Jersey
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Financial Services, Software, Artificial Intelligence

Jigsaw VC website

## Accion Venture Lab
- Type: VC Fund
- Location: Washington, District of Columbia, United States
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Financial Services, FinTech, Finance

Accion Venture Lab is an investment initiative that provides startups with seed capital and support.

## Eudaimonia Capital
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, Artificial Intelligence, Information Technology

Eudaimonia Capital Pte. Ltd. is a seed stage investments firm.

## Michael Novogratz
- Type: Angel
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: B2B, Retail, Social

Mike Novogratz is the Founder, CEO and Chairman at Galaxy Digital.

## 468 Capital
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, Artificial Intelligence, Information Technology

468 Capital is a Berlin and San Francisco based technology investment firm. We support leading software, AI and internet growth companies across multiple investment stages.

## Beta.Ventures
- Type: VC Fund
- Location: Lagos, Lagos, Nigeria
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Financial Services, FinTech, B2B

Beta.Ventures invests in driven, early-stage entrepreneurs scaling tech and tech-enabled startups to become market leaders. They are focused on the opportunities made available by a 1.2 billion-person, mobile phone enabled Africa.Beta.Ventures works closely with founders and teams from product idea to product launch through to the next stage ofcompany development. We are focused on the opportunities made available by a 1.2 billion-person, mobile phone enabled Africa.We are experienced entrepreneurs ourselves and are able to share what has proven to work for product and service scaling, revenue growth and fundraising.Operations is key to success at early stage companies, and our environment often faces a dearth of experience scaling opportunities; Beta.Ventures focuses intensely on the operations of a company, adding value through several levers we know, from experience, will enable a company to succeed.Our partners, affiliates, and mentors lead some top technology companies locally and internationally and we encourage you to partner with us to take advantage of our experience building great products/services, negotiating partnerships and deals, leading teams, and raising money.

## Flat6Labs
- Type: VC Fund
- Location: Gîza, Al Jizah, Egypt
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Software, E-Commerce, Apps

Flat6Labs is the MENA region’s leading seed and early stage venture capital firm, currently running the most renowned startup programs in the region. Annually, Flat6Labs invests in more than 100 innovative and technology-driven startups enabling thousands of passionate entrepreneurs to achieve their daring ambitions and ultimately becoming theirinstitutional co-founders. Flat6Labs manages a number of seed funds with a total AUM in excess of $85M. More than 25 leading institutions have invested into the Flat6Labs managed funds; believing in the asset class and Flat6Labs’ proven track record as the market leader.. Flat6Labs provides a wide range of investment ticket sizes ranging from $50K to $500k, supporting startups through their early journeys from Pre-Seed all the way to Pre-Series A stages. Alongside to the investments, Flat6Labs’ exceptional startup programs, executed to cater specifically for the needs of the innovative entrepreneurs, helps them accelerate their growth by providing them with a plethora of support services and connecting them to unparalleled opportunities with an expansive network comprising hundreds of business mentors, investors and corporates. Launched and headquartered in Cairo since 2011, Flat6Labs has multiple offices across the region; with ongoing plans to expand into other emerging markets.

## Afri Mobility
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed, Convertible Note
- Focus: B2B, Apps, Retail

Afri Mobility is the venture capital arm of AKWA Group.

## GMC coLABS
- Type: VC Fund
- Relevant deals: 1

## Hamza Abu hassan Ibn Faycal AlMALIKI
- Type: Angel
- Relevant deals: 1
- Stages: Series A
- Focus: B2B, Retail, Software

Hamza Abu hassan Ibn Faycal AlMALIKI

## WIC Capital
- Type: VC Fund
- Location: Dakar, Dakar, Senegal
- Relevant deals: 1
- Stages: Seed
- Focus: Retail, B2B, Food Processing

WIC Capital is the first mechanism to provide suitable financing and support to women-owned MSMEs in Senegal and West Africa.

## Endeavor Catalyst
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: E-Commerce, Software, Information Technology

Endeavor Catalyst is the rules-based, co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Launched in 2012, Endeavor Catalyst has ~$500M+ AUM across four funds and has made 260+ investments to date in 35+ different markets. TodayThe Endeavor Catalyst portfolio has 53 companies valued at $1B+. Investments include Globant (NYSE:GLOB), Rappi, and Creditas in Latin America; Yemeksepeti.com and Careem in MENA; and Bukalapak and Carro in Indonesia.

## Savannah Fund
- Type: VC Fund
- Location: Nairobi, Nairobi Area, Kenya
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: E-Commerce, FinTech, Information Technology

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

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