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Top 50 Enterprise Startup Investors in Africa (October 2023)

The most active venture capital funds and angel investors investing in Africa Enterprise startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Africa Enterprise startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
LoftyInc Capital Management
VC Fund
25 United States, Nigeria, Egypt Seed, Pre-Seed, Series A FinTech, Financial Services, Software $100k–$15M
Ventures Platform
VC Fund
25 Nigeria, United States, Kenya Seed, Pre-Seed Financial Services, FinTech, Internet $50k–$4.4M
Future Africa
VC Fund
24 Nigeria, United States, Kenya Seed, Pre-Seed, Series A Financial Services, FinTech, Information Technology $40k–$20M
Launch Africa
VC Fund
24 Nigeria, South Africa, Kenya Seed, Pre-Seed Financial Services, FinTech, Information Technology $200k–$3M
Kepple Africa Ventures
VC Fund
19 Nigeria, Kenya, Egypt Seed, Pre-Seed Financial Services, FinTech, Software $100k–$4.5M
Musha Ventures
VC Fund
19 United States, Nigeria, Kenya Seed, Pre-Seed, Series A Financial Services, Software, FinTech $50k–$10M
Golden Palm Investments
VC Fund
15 Nigeria, Egypt, Kenya Seed, Pre-Seed, Series A Information Technology, FinTech, Health Care $30k–$15M
Consonance Investment Managers
VC Fund
13 Nigeria, United States, Kenya Seed, Series A, Pre-Seed Software, Information Technology, FinTech $50k–$2.5M
4DX Ventures
VC Fund
12 Egypt, United States, Kenya Seed, Series A, Pre-Seed FinTech, Information Technology, Financial Services $40k–$20M
EchoVC Partners
VC Fund
12 United States, Nigeria, Kenya Seed, Series A, Pre-Seed Information Technology, E-Commerce, Software $200k–$30M
Savannah Fund
VC Fund
11 Kenya, United States, South Africa Seed, Series A, Pre-Seed E-Commerce, FinTech, Information Technology $25k–$8M
Maroc Numeric Fund
VC Fund
11 Morocco, Canada, France Series A, Seed, Pre-Seed Online Portals, Enterprise Software, FinTech $200k–$700k
Microtraction
VC Fund
11 Nigeria, United States, Canada Pre-Seed, Seed, Angel Financial Services, FinTech, Software $25k–$1.2M
Novastar Ventures
VC Fund
10 Kenya, Nigeria, United States Series A, Series B Agriculture, Internet, Clean Energy $660k–$50M
Orange Ventures
VC Fund
9 France, United States, United Kingdom Seed, Series B, Series C Software, FinTech, Financial Services $214k–$75M
P1 Ventures
VC Fund
8 Egypt, Kenya, Nigeria Seed, Series B, Pre-Seed Financial Services, Payments, FinTech $350k–$3.5M
Outlierz Ventures
VC Fund
8 Morocco, Egypt, Kenya Seed, Pre-Seed, Series A Supply Chain Management, Logistics, Information Services $1.5M–$6.2M
Idris Ayodeji Bello
Angel
8 Nigeria, United States, Egypt Angel, Seed, Pre-Seed FinTech, Software, Financial Services $450k–$2.1M
VestedWorld
VC Fund
8 Nigeria, Kenya, Ghana Seed, Series A, Series B Agriculture, E-Commerce, Financial Services $1.6M–$4.4M
Enza Capital
VC Fund
8 Nigeria, Kenya, South Africa Seed, Pre-Seed, Series A Logistics, E-Commerce, B2B $1M–$13M
Chandaria Capital
VC Fund
8 Kenya, United States, Egypt Seed, Series A, Pre-Seed E-Commerce, FinTech, Software $200k–$37M
Reflect Ventures
VC Fund
7 Pakistan, United States, Peru Seed, Series A, Pre-Seed Information Technology, Logistics, E-Commerce $100k–$37M
Lynett Capital
VC Fund
7 United States, Kenya, Nigeria Seed, Series A, Pre-Seed FinTech, Wireless, Mobile $120k–$10M
Oui Capital
VC Fund
7 Kenya, Nigeria, United States Pre-Seed, Seed Transportation, Information Technology, B2B $40k–$1.1M
AngelHub Ventures
VC Fund
7 South Africa Seed, Series A Software, Information Technology, Education $300k–$1.7M
CRE Venture Capital
VC Fund
7 South Africa, Nigeria, United States Seed, Series A, Pre-Seed Financial Services, FinTech, Software $250k–$20M
HoaQ
VC Fund
7 Nigeria, United Kingdom, Togo Pre-Seed, Seed, Angel Financial Services, Internet, E-Commerce $100k–$2M
Soma Capital
VC Fund
7 United States, India, Mexico Seed, Pre-Seed, Series A Software, FinTech, Financial Services $150k–$22M
4Di Capital
VC Fund
7 South Africa, United States, Uganda Seed, Series A, Series B Software, Mobile, Financial Services $431k–$6.4M
Kalon Venture Partners
VC Fund
7 South Africa, Luxembourg, United States Seed, Series A Apps, Mobile Apps, Software $539k–$3M
Social Capital
VC Fund
7 United States, Canada, India Seed, Series A, Series B Software, FinTech, SaaS $1M–$35M
MaC Venture Capital
VC Fund
6 United States, Kenya, Nigeria Seed, Series A, Pre-Seed Software, Information Technology, Health Care $235k–$50M
Ingressive Capital
VC Fund
6 Nigeria, United States, Ghana Pre-Seed, Seed, Series A Financial Services, FinTech, Information Technology $400k–$15M
CDG Invest
VC Fund
6 Morocco, France, Switzerland Pre-Seed, Seed, Convertible Note Apps, Software, Internet $200k–$4M
Harambeans
VC Fund
6 Nigeria, Kenya, South Africa Seed, Angel, Grant Supply Chain Management, Transportation, Information Technology $100k–$3.1M
GreenHouse Capital
VC Fund
6 Nigeria, Kenya, United States Seed, Pre-Seed, Series A Financial Services, FinTech, Payments $300k–$20M
Flat6Labs Tunisia
VC Fund
6 Tunisia Pre-Seed, Seed E-Commerce, Retail, Education $64k–$200k
Knife Capital
VC Fund
6 South Africa, United States, Sweden Series A, Seed Software, Information Technology, Manufacturing $2M–$6M
Alumni Ventures
VC Fund
6 United States, United Kingdom, Canada Seed, Series A, Series B Software, Information Technology, Health Care $850k–$45M
Unpopular Ventures
VC Fund
5 United States, Mexico, Colombia Seed, Pre-Seed, Series A Software, FinTech, Financial Services $370k–$30M
Investec
VC Fund
5 United States, United Kingdom, Australia Debt Financing, Series A Software, Financial Services, Energy $1M–$215M
Ground Squirrel Ventures
VC Fund
5 United States, Zambia, Madagascar Seed, Series A Renewable Energy, Solar, Energy $1.8M–$5M
Proparco
VC Fund
5 India, Kenya, Mauritius Debt Financing, Series B Financial Services, Finance, Energy $300k–$120M
Justin Mateen
Angel
5 United States, Mexico, India Seed, Series A, Pre-Seed Software, E-Commerce, Financial Services $400k–$14M
Cem Garih
Angel
5 United States, India, Kenya Seed, Series A, Pre-Seed Internet, Financial Services, FinTech $460k–$17M
TLcom Capital Partners
VC Fund
5 Nigeria, United States, United Kingdom Series A, Series B Software, Mobile, Information Technology $3.5M–$27M
AfricInvest
VC Fund
5 Tunisia, Morocco, Nigeria Private Equity, Series A Manufacturing, Financial Services, FinTech $1.7M–$65M
Lateral Frontiers
VC Fund
5 United States, Nigeria, Kenya Seed, Series A, Pre-Seed FinTech, Financial Services, Software $500k–$15M
Michael Seibel
Angel
5 United States, Nigeria, Singapore Seed, Series A, Pre-Seed FinTech, Financial Services, Software $120k–$20M
Miles Morland
Angel
5 Mozambique Pre-Seed Internet, Education, Publishing $7k–$12k
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

LoftyInc Capital Management
VC Fund · Carmel, California, United States · 25 investments in Africa Enterprise startups

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

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Investment focus

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

Investor stats

  • Total investments: 111
  • Round size: Seed $100k–$3.2M; Pre-Seed $100k–$2M; Series A $250k–$15M
  • Lead/follow: 14% lead, 86% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • Craydel — Get Professional career guidance based on Psychometric Assessments and get scholarships to the best MBA, Engineering, Medical, Education online and on campus courses in Africa and Abroad.
  • EMTECH — For Modern Central Banking
  • Terragon Group — Terragon is a leading Data and Marketing Technology company that uses data and analytics to help companies focused in Africa, intelligently connect at scale to their customers. We use an aggregation of online and offline data, and predictive scoring to help brands, marketing agencies and platforms accurately target people across channels anddevices. Headquartered in Lagos; Nigeria, we also have a presence in Kenya, South Africa, Ghana and India.
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Ventures Platform
VC Fund · Abuja, Federal Capital Territory, Nigeria · 25 investments in Africa Enterprise startups, 15 in the past 12 months

Ventures Platform Fund is a discovery fund that invests early in mission-driven founders that are building capital-efficient platforms that democratise prosperity, plug infrastructural gaps, connect underrepresented communities, solve for non-consumption, and improve livelihoods in Africa.

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Investment focus

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

Investor stats

  • Total investments: 127
  • Round size: Seed $325k–$4.4M; Pre-Seed $50k–$1.1M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: Likely still investing — raised $46M in 2022

Portfolio highlights

  • Lengo — Lengo is an AI based intelligence platform that offers a large database on consumer goods for companies in the FMCG sector.
  • Traction Apps — Traction apps provide businesses end to end tools they need to run and grow their businesses.
  • Remedial Health — We improve business to business access to medicines by providing such medicines from manufactures/registered distributors direct to large and small healthcare retail businesses (large pharmacies and remote chemist/PPMVs (Patent and Proprietary Medicine Vendors)) using technology to deliver just-in-time stock and provide financing and awide selection of inventory to such retail business.
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Future Africa
VC Fund · San Francisco, California, United States · 24 investments in Africa Enterprise startups, 10 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 80
  • Round size: Seed $500k–$3.7M; Pre-Seed $40k–$3.7M; Series A $7M–$20M
  • Lead/follow: 13% lead, 87% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • Balad — Balad is Egyptian Cross Border Payout Network primarily serving Money Transfer Operators (MTOs), fintechs and mobile wallets. Targeting sending markets including GCC, EU, US, Canada, and UK
  • Anchor — Anchor is a Lagos-based banking-as-a-service platform for African businesses. Anchor provides APIs and infrastructure to build, embed and launch powerful financial products in a secure and scalable way.
  • Itana — Talent City’s mission is to build a network of charter cities that focuses on creating technology-enabled jobs within a free trade zone with its own regulation and bylaws.
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Launch Africa
VC Fund · Ebène, Plaines Wilhems, Mauritius · 24 investments in Africa Enterprise startups, 18 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
  • Geography: Nigeria, South Africa, Kenya

Investor stats

  • Total investments: 131
  • Round size: Seed $200k–$3M; Pre-Seed $200k–$1M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — raised $36M in 2022

Portfolio highlights

  • Lengo — Lengo is an AI based intelligence platform that offers a large database on consumer goods for companies in the FMCG sector.
  • Zanifu — The zanifu platform, allows small retailers in Sub Saharan Africa, to procure inventory from their suppliers & pay later.
  • Fixit45 — Your best ever automobile service experience awaits you.
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Kepple Africa Ventures
VC Fund · Tokyo, Tokyo, Japan · 19 investments in Africa Enterprise startups

Kepple Africa Ventures is an early-stage venture capital firm.

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Investment focus

  • Industry: Financial Services, FinTech, Software
  • Stage:Seed, Pre-Seed
  • Geography: Nigeria, Kenya, Egypt

Investor stats

  • Total investments: 74
  • Round size: Seed $500k–$4.5M; Pre-Seed $100k–$3.7M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Chari — Chari is an e-commerce and fintech app for traditional retailers in French-Speaking Africa allowing them to order any consumer goods they sell and get delivered for free in less than 24 hours. Chari is also a financial services provider for these retailers, offering them microloans
  • Carry1st — Carry1st develops and publishes enriching mobile games and content apps for African consumers.
  • Beacon Power Services — Beacon Power Services is a utility company that provides energy management software and analytics for utilities.
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Musha Ventures
VC Fund · New York, New York, United States · 19 investments in Africa Enterprise startups

Seed capital for technology startups globally.

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Investment focus

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

Investor stats

  • Total investments: 131
  • Round size: Seed $120k–$3M; Pre-Seed $50k–$3.8M; Series A $2.5M–$10M
  • Lead/follow: 2% lead, 98% follow

Portfolio highlights

  • Terraa — Terraa is a B2B distribution platform in Moroccan.
  • OmniBiz — Omnibiz is a digital platform for small businesses willing to attract new customers.
  • Revivo — Revivo is an online marketplace for electronics spare parts, tools & accessories.
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Golden Palm Investments
VC Fund · Accra, Greater Accra, Ghana · 15 investments in Africa Enterprise startups

Golden Palm Investments is an investment holding and advisory company.

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Investment focus

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

Investor stats

  • Total investments: 54
  • Round size: Seed $2M–$13M; Pre-Seed $30k–$6.5M; Series A $2M–$15M
  • Lead/follow: 6% lead, 94% follow
  • Last fund: May invest from a new fund soon — last raise in 2014

Portfolio highlights

  • Sabipay — Pastel is a leader in Artificial Intelligence. We build products targeted at individuals (SwiftMoney) and enterprises (Sigma) in emerging markets
  • Maplerad — Maplerad is a fast, safe and easy way to send and receive money with friends, family or others you trust. You can receive and send money directly into any Nigerian bank account in minutes using Bitcoin, US Dollars, and Naira.
  • Jetstream Africa — Jetstream is a supply chain platform that powers freight forwarding and global exports for African suppliers. With tracking and consolidated (LCL) shipping Jetstream levels the playing field for access to international trade for African SMEs with the click of a button.
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Consonance Investment Managers
VC Fund · Lagos, Lagos, Nigeria · 13 investments in Africa Enterprise startups

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

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Investment focus

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

Investor stats

  • Total investments: 30
  • Round size: Seed $550k–$2.5M; Pre-Seed $450k–$1M; Series A $50k–$1.3M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Releaf — We are industrializing food processing in Africa. We've led 1000+ smallholder farmers to provide food factories with >7.5 million kilograms of quality crops.
  • Tripesa — Tripesa offers payment solutions for Africa's travel and tourism industry.
  • Norebase — Norebase knows that there's an opportunity to grow successful businesses in Africa. It also understands the complexities of the market, and so is using technology to make doing business in Africa worthwhile. With Norebase get to operate in Africa with no hassle and with minimum risk.
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4DX Ventures
VC Fund · Brooklyn, New York, United States · 12 investments in Africa Enterprise startups

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

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Investment focus

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

Investor stats

  • Total investments: 66
  • Round size: Seed $431k–$13M; Pre-Seed $40k–$6.5M; Series A $3M–$20M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • Tactyc — Tactyc is an easy-to-use portfolio construction, forecasting and management software for venture funds.
  • Zoie Health — Zoie is a digital health firm for women that provides family planning, fertility, and maternity care services.
  • Money Fellows — MoneyFellows digitizes the ROSCA model, enabling group lending and savings.
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EchoVC Partners
VC Fund · Lagos, Lagos, Nigeria · 12 investments in Africa Enterprise startups

EchoVC Partners is a seed and early-stage venture capital firm focused on financing and cross-pollinating leading technologies, teams, business models, and knowledge across North America, Africa, and SE Asia. The average investment size ranges from $25,000 to several million dollars depending on the stage of opportunity and capital needs of thebusiness.

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Investment focus

  • Industry: Information Technology, E-Commerce, Software
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Nigeria, Kenya

Investor stats

  • Total investments: 47
  • Round size: Seed $200k–$4M; Pre-Seed $400k–$1.6M; Series A $4.3M–$30M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: Likely still investing — raised $8M in 2023

Portfolio highlights

  • Shuttlers — Shuttlers is a platform that offers mobility solutions by providing scheduled bus-sharing services for the professionals within the region.
  • Snowstorm — Snowflake is decentralized and is deployed as a pluggable transport for Tor.
  • Senga Technologies — Welcome to Senga, custom-built, with love, for businesses shipping in Africa.
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Access 48,091 investors

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

Browse database — It's Free!
Savannah Fund
VC Fund · Nairobi, Nairobi Area, Kenya · 11 investments in Africa Enterprise startups

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

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Investment focus

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

Investor stats

  • Total investments: 36
  • Round size: Seed $25k–$3M; Pre-Seed $200k–$2.1M; Series A $750k–$8M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: May invest from a new fund soon — raised $25M in 2021

Portfolio highlights

  • Oze — OZÉ brings African small businesses into the digital era. It is an app that makes it easy for businesses to track sales, expenses, and customer information. The data is analyzed to provide tailored recommendations, reports, and business education. If the entrepreneur needs a little extra support, an OZÉ Coach is just a click away. As they are usingOZÉ to manage their business and learn how to run it better, we are learning about them. Using this data and machine learning, we can predict their credit risk and provide them with affordable capital from our banking partners. With over 20,000 registered users, OZÉ is the largest online community of SMEs in Ghana. The most exciting thing is that OZÉ works; 97% of businesses that have used OZE for at least 9 months are growing or profitable or both!
  • Root — Programmable insurance that you can integrate into your product or service with ease
  • Afropolitan — Afropolitan is building a Network State to unleash the maximum potential of Africans around the world. Are you interested? Join us with your email.
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Maroc Numeric Fund
VC Fund · Casablanca, Grand Casablanca, Morocco · 11 investments in Africa Enterprise startups

Maroc Numeric Fund is a tech VC fund investing in Morocco.

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Investment focus

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

Investor stats

  • Total investments: 24
  • Round size: Seed $200k–$400k; Series A $250k–$700k
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — raised $20M in 2018

Portfolio highlights

  • Cypherleak — Cypherleak is an automated cyber risk monitoring and scoring solution that uses an organisation's domain name only to map their risk exposure across leaked passwords, attack surface, vulnerabilities and dark web data leakage. Additionally, Cypherleak supports global insurances by powering their cyber insurance products with reliable andaccurate cyber risk modeling and monitoring.
  • Damanesign — Damanesign operates as a digital trust solutions startup. Damanesign is a startup that is seizing new legislation opportunities on digital trust in Morocco to provide users with the utmost safety in documentation.
  • Aza Petrosolutions — Aza Petrosolutions provides services, solutions, and superior software and hardware for fuel management.
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Microtraction
VC Fund · Lagos, Lagos, Nigeria · 11 investments in Africa Enterprise startups

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

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Investment focus

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

Investor stats

  • Total investments: 57
  • Round size: Seed $25k–$1.2M; Pre-Seed $50k–$1M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — raised $15M in 2022

Portfolio highlights

  • Famasi — Famasi is a digital health platform that helps people access their medications, schedule doorstep delivery, and automate monthly refills.
  • Pennee — Pennee supports small businesses to grow with low interest loans and data optimization.
  • Clafiya — Discover Clafiya: Your trusted digital health platform, uniting in-person care and virtual solutions for a personalized and caring healthcare experience. Embrace a healthier, happier you, with us by your side.
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Novastar Ventures
VC Fund · Nairobi, Nairobi Area, Kenya · 10 investments in Africa Enterprise startups

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

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Investment focus

  • Industry: Agriculture, Internet, Clean Energy
  • Stage:Series A, Series B
  • Geography: Kenya, Nigeria, United States

Investor stats

  • Total investments: 48
  • Round size: Series A $1M–$9.9M; Series B $660k–$50M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: May invest from a new fund soon — raised $108M in 2020

Portfolio highlights

  • BasiGo — BasiGo is an early-stage e-mobility start-up looking to revolutionize the public transportation sector by providing matatu owners with a cost-effective electric alternative to diesel buses.
  • Turaco — Turaco develops simplified insurance and credit solutions through mobile technology to solve the healthcare financing needs. Turaco has simplified insurance products and also provides on-demand health loans, allowing customers to get healthcare at affordable monthly premiums.
  • MoKo Home + Living — MoKo Home is Kenya's one-stop furniture company specializing in comfort & smiles, having served over 10000 smiley homes to date. Will yours be next?
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Orange Ventures
VC Fund · Paris, Ile-de-France, France · 9 investments in Africa Enterprise startups

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

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Investment focus

  • Industry: Software, FinTech, Financial Services
  • Stage:Seed, Series B, Series C
  • Geography: France, United States, United Kingdom

Investor stats

  • Total investments: 65
  • Round size: Seed $214k–$4.8M; Series B $11M–$32M; Series C $24M–$75M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • CorralData — Experience the power of AI-generated metrics and insights with CorralData. Get one month free and seamlessly integrate with 200+ data sources with no upfront costs.
  • Epoca — Epoca prepare the health solution of your dreams .
  • Terragon Group — Terragon is a leading Data and Marketing Technology company that uses data and analytics to help companies focused in Africa, intelligently connect at scale to their customers. We use an aggregation of online and offline data, and predictive scoring to help brands, marketing agencies and platforms accurately target people across channels anddevices. Headquartered in Lagos; Nigeria, we also have a presence in Kenya, South Africa, Ghana and India.
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P1 Ventures
VC Fund · San Francisco, California, United States · 8 investments in Africa Enterprise startups, 11 in the past 12 months

P1 Ventures works as a venture capital firm. They specialize in early-stage industrial technology firms in Africa.

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Investment focus

  • Industry: Financial Services, Payments, FinTech
  • Stage:Seed, Series B, Pre-Seed
  • Geography: Egypt, Kenya, Nigeria

Investor stats

  • Total investments: 32
  • Round size: Seed $350k–$3.5M; Pre-Seed $575k–$2M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Lengo — Lengo is an AI based intelligence platform that offers a large database on consumer goods for companies in the FMCG sector.
  • Nkoloso — Nkoloso is a company that uses advanced AI and robotics for agriculture, forestry, and infrastructure industries.
  • Kotani Pay — Kotani Pay is a technology stack that enables blockchain protocols, dapps, and blockchain fintech companies to integrate seamlessly to local payment channels providing them with a reliable on ramp and off ramp service to reach a wider customer base in Africa.
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Outlierz Ventures
VC Fund · Casablanca, Grand Casablanca, Morocco · 8 investments in Africa Enterprise startups

We provide smart capital to grow investable startups in Africa

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Investment focus

  • Industry: Supply Chain Management, Logistics, Information Services
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Morocco, Egypt, Kenya

Investor stats

  • Total investments: 14
  • Round size: Seed $1.5M–$6.2M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • PayTic — PayTic enables payments issuers to manage their card programs by providing dedicated back-office solutions that streamline the end-to-end operations in customer support, chargebacks, fraud, AML, reporting, and reconciliation. Our proprietary solutions are unique in automating and centralizing the program management processes, regardless of thenumber of processors and the payment networks involved in the payments products. We impact payments providers by eliminating the defragmented and manual processes and replacing them with a SaaS platform that increases proactivity, mitigates risks, and delivers value. It reduces the burn rate to near 0 in operational costs and offers an unprecedented competitive advantage. PayTic is introducing the Zero Ops model in managing payments.
  • Suplyd — Suplyd is a comprehensive digital solution that bridges the gap between restaurant operators and their suppliers in order to disrupt an untouched market with extreme fragmentation and resolve the problem end-to-end.
  • Terraa — Terraa is a B2B distribution platform in Moroccan.
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Idris Ayodeji Bello
Angel · 8 investments in Africa Enterprise startups

The 'Afropreneur' (entrepreneur with an African focus), as he self-describes, Idris Ayodeji Bello is a Partner at LoftyInc Allied Partners Limited and co-founder of The Wennovation Hub, an innovation platform based in Nigeria, that has successfully accelerated the launch of several technology start-ups in social impact sectors. He isalso a Founding Partner at Loftyinc Capital Management, owners of the Afropreneurs Fund (I&II)The 'Afropreneur' (entrepreneur with an African focus), as he self-describes, Idris Bello is a Partner at LoftyInc Allied Partners Limited and co-founder of The Wennovation Hub, an innovation platform based in Nigeria, that has successfully accelerated the launch of several technology start-ups in social impact sectors. He is also a Founding Partner at Loftyinc Capital Management, owners of the Afropreneurs Fund (I&II)A first class honors graduate of Computer Engineering from Obafemi Awolowo University, Nigeria, he has an M.Sc in Computer Science & Data Mining from the University of Houston; an MBA in Entrepreneurship & Strategy from Rice University in Houston and an M.Sc in Global Health Science from the University of Oxford, where he was a 2011 recipient of The Lord Weidenfeld Scholarship for demonstrating remarkable potential as a future leader from an emerging economy.Idris spent the greater part of a decade working at Chevron Corporation and ExxonMobil USA, where he led several large upstream technology projects across the USA and Sub-Saharan Africa. Idris has also worked with the Clinton Foundation Health Access Initiative where he played a major role in the deployment and evaluation of Swaziland’s first mobile health patient appointment reminder system as part of the country’s National AIDS Program. Listed among CNN’s Top Ten African Technology Voices, he is a Singularity University Impact Fellow, Harambe Entrepreneur Alliance Associate, Clinton Global Initiative University Fellow, MIT Global Start-up Fellow, SAP Ashoka Global Changemakers Award Winner, Dell Technology Award Winner, StartingBloc Innovation Fellow and a Nigeria Leadership Initiative Future Leader.As a leader, Idris has mentored and catalyzed scores of contributors across the growing African landscape and is an angel investor and advisor to several African startups including Andela, Flutterwave, RelianceHMO, among others. He continues to devote his efforts to the development of innovation-driven, technology-enabled social enterprises that empower the underserved and develop transformative ideas to change lives on the African continent.He spends most of his time between Lagos, Cairo, or airport lounges.

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Investment focus

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

Investor stats

  • Total investments: 32
  • Round size: Seed $450k–$2.1M; Pre-Seed $500k–$1M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • Jem — We give employers the ability to send company-wide communications, deliver payslips, manage leave & give employees access to their earnings, via WhatsApp.
  • SimpliFi — SimpliFi is on a mission to democratize payments by building the leading Cards as a Service (CaaS) platform for MENA and Pakistan.
  • ORDA — Process orders, accept payments, connect to logistic providers, engage with your customers + more. We equip you with everything you need to grow your business.
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VestedWorld
VC Fund · Chicago, Illinois, United States · 8 investments in Africa Enterprise startups, 7 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 24
  • Round size: Seed $1.6M–$2.5M; Series A $4.2M–$4.4M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • FarmWorks — FarmWorks is an agricultural technology company that gives farmers access to farm inputs as well as a market for the produce .FarmWork is to unlock agricultural potential by building clusters of mid-sized farms while working with thousands of small-holder farmers and establishing direct linkage to local and global markets.
  • EMTECH — For Modern Central Banking
  • Complete Farmer — We are providing cutting-edge technological farming protocols and innovations with a unique business model and logistics that are revolutionizing...
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Enza Capital
VC Fund · Nairobi, Nairobi Area, Kenya · 8 investments in Africa Enterprise startups

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

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Investment focus

  • Industry: Logistics, E-Commerce, B2B
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Nigeria, Kenya, South Africa

Investor stats

  • Total investments: 18
  • Round size: Seed $1.1M–$13M; Pre-Seed $1M–$1M; Series A $3.6M–$10M
  • Lead/follow: 28% lead, 72% 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.
  • Jumba — Jumba is a construction technology platform that streamlines B2B construction material purchase and financing.
  • Yebo Fresh — Powering South Africa's Township Economy.
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Chandaria Capital
VC Fund · Nairobi, Nairobi Area, Kenya · 8 investments in Africa Enterprise startups

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.

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Investment focus

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

Investor stats

  • Total investments: 28
  • Round size: Seed $200k–$6M; Pre-Seed $1M–$3M; Series A $2M–$37M
  • Lead/follow: 7% lead, 93% follow

Portfolio highlights

  • Leta — Leta Technology is a software development company that creates supply chain and logistics software to enable the efficient and automated movement of goods.
  • Jumba — Jumba is a construction technology platform that streamlines B2B construction material purchase and financing.
  • UTU Technologies — Trust infrastructure for the sharing economy.
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Reflect Ventures
VC Fund · Menlo Park, California, United States · 7 investments in Africa Enterprise startups

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.

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Investment focus

  • Industry: Information Technology, Logistics, E-Commerce
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Pakistan, United States, Peru

Investor stats

  • Total investments: 26
  • Round size: Seed $100k–$12M; Pre-Seed $200k–$1M; Series A $4M–$37M
  • Lead/follow: 4% lead, 96% follow

Portfolio highlights

  • Truckistan — Truckistan is developing a logistics platform to make shipping faster and cheaper. The company provides real-time tracking, a customer dashboard, account management, and guaranteed transit time, as well as SaaS tools for routing, vehicle loading, and RFID implementation throughout the supply chain.
  • MarketForce — MarketForce connects Africa’s informal retail outlets and consumers directly to suppliers of consumer goods and financial services by digitizing orders, delivery, and payments with the aim of solving the last mile distribution challenge.
  • T40 Technologies — Founded in 2019, T40’s mission is to challenge the status quo on behalf of small and medium-sized intercity transport service operators in Nigeria. We are doing so by building an open technology infrastructure that would enable transport operators of all sizes to transition from manual and analog operations to a digital system that is guaranteed todeliver revenue growth and increased productivity to their businesses. Our digital channels has also helped many operators offer improved services to their travelers hence increasing their NPS in the process.
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Lynett Capital
VC Fund · San Francisco, California, United States · 7 investments in Africa Enterprise startups

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

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Investment focus

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

Investor stats

  • Total investments: 22
  • Round size: Seed $120k–$3M; Series A $3M–$10M
  • Lead/follow: 0% lead, 100% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • OpenYield — OpenYield is the modern bond exchange for retail. Equity-like liquidity for corporates and treasures.
  • Notabene — Crypto Compliance for VASPs & Regulators made simple! Notabene is a platform designed to bridge crypto markets with traditional financial systems. Book a demo today.
  • ABL Space Systems — ABL Space Systems is a company based in El Segundo, California, focused on launch vehicle and launch systems technology development.
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Oui Capital
VC Fund · Belmont, Massachusetts, United States · 7 investments in Africa Enterprise startups

Oui Capital is an Africa-focused VC firm backing tech-enabled businesses at the pre-seed & seed stage.

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Investment focus

  • Industry: Transportation, Information Technology, B2B
  • Stage:Pre-Seed, Seed
  • Geography: Kenya, Nigeria, United States

Investor stats

  • Total investments: 22
  • Round size: Pre-Seed $40k–$1.1M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Duplo — We enable businesses across Africa to simplify their payment flows.
  • Ndovu — Secure your investments in both local and global financial markets on ndovu - a secure, affordable, hassle-free online investment platform in Africa designed to work your money
  • Maad — Maad is Francophone Africa's fastest-growing B2B marketplace, based in Dakar, Senegal. Our tech-driven solution allows retailers to order products from our one-stop shop and benefit from working capital loans
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AngelHub Ventures
VC Fund · Stellenbosch, NA - South Africa, South Africa · 7 investments in Africa Enterprise startups

Operating out of Stellenbosch in South Africa and backed by two family offices Angelhub Ventures's team is passionate about early stage investments in (South) Africa. Being entrepreneurial ourselves, we thoroughly understand the challenges and changes our founders face – which is why we back them in any way we can. Most importantly, we believein building great businesses and we are in it for the long haul.

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Investment focus

  • Industry: Software, Information Technology, Education
  • Stage:Seed, Series A
  • Geography: South Africa

Investor stats

  • Total investments: 12
  • Round size: Series A $300k–$1.7M
  • Lead/follow: 83% lead, 17% follow
  • Last fund: May invest from a new fund soon — last raise in 2014

Portfolio highlights

  • Syscap — Syscap is a financial technology company that offers cutting-edge solutions to financial institutions to have a better administration and management of their funding sources. It connects the leaders of financial and real estate institutions with their funders. For institutions, the company ensures the optimization of their funding source managementprocesses, but also the strengthening of the relationship with their funders. To funders, Syscap guarantees the transparency and timely monitoring of its funds for the safety and growth of its resources.
  • Godochurch — GoDoChurch is a cloud-based church administration software which is designed to assist Christian churches and ministries with managing members, Sunday services, events, communications, and more. The system is made up of a base package, covering messaging, news, ministries, lists, church roles, services, events, and growth paths, with additionalmodules for managing follow-ups, groups, and Kids church.
  • Ikeja Wireless — Welcome to your Ikeja. We are a home-grown tech company that builds services enabling affordable internet access to Ekasi. We may have coverage in your area!
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CRE Venture Capital
VC Fund · New York, New York, United States · 7 investments in Africa Enterprise startups

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.

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Investment focus

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

Investor stats

  • Total investments: 49
  • Round size: Seed $300k–$5M; Pre-Seed $250k–$3.3M; Series A $1.1M–$20M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • Sava — Sava is a multi-management platform that provides an unlimited number of virtual cards as well as automated accounting reconciliation.
  • Stitch — One API integration for all online payments across South Africa. Accept Instant EFT, debit + credit card, cash, direct deposit and debits. Manage + reconcile digital payments and send payouts.
  • Bettr — Bettr is a digital banking app for creator. Download the app to get your zero monthly fee digital bank account and virtual card. Join our community of creators, gamers, influencers, freelancers, tiktokkers, streamers, YouTubers and digital gig workers.
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HoaQ
VC Fund · 7 investments in Africa Enterprise startups

Startup Investment Club

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Investment focus

  • Industry: Financial Services, Internet, E-Commerce
  • Stage:Pre-Seed, Seed, Angel
  • Geography: Nigeria, United Kingdom, Togo

Investor stats

  • Total investments: 20
  • Round size: Seed $1.7M–$2M; Angel $100k–$130k; Pre-Seed $115k–$780k
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Clafiya — Discover Clafiya: Your trusted digital health platform, uniting in-person care and virtual solutions for a personalized and caring healthcare experience. Embrace a healthier, happier you, with us by your side.
  • Kunda Kids — Kunda Kids is helping kids around the world fall in love with reading through our storybooks and activity books. Browse our range of storybooks for kids. Perfect for kids ages 3 to 8 years
  • ChekkitApp — Chekkit is a DAG blockchain powered anti-counterfeiting solution for food and drug supply chain tracking and customer insights platform. It helps producers protect their brands, track supply chain activities, and collect last-mile consumer insights in real-time.
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Soma Capital
VC Fund · San Francisco, California, United States · 7 investments in Africa Enterprise startups, 46 in the past 12 months

Soma Capital is venture capital fund that focuses on investing in software to automate the world across all sectors and geographies.

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Investment focus

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

Investor stats

  • Total investments: 324
  • Round size: Seed $1M–$6M; Pre-Seed $150k–$3.6M; Series A $2.1M–$22M
  • Lead/follow: 3% lead, 97% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • 0xPass — Frictionless auth and login for your dapp
  • Arkifi — Arkifi is an artificial intelligence company that develops AI-powered financial analyst tools. Arkifi's framework generates consistent results that avoid fabricating factual details (referred to as "hallucination"), instilling enterprises with an unmatched level of confidence in the outcomes.
  • Gradia Health — Gradia is an integrated, concierge care platform designed for clinics to support patients with chronic conditions.
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4Di Capital
VC Fund · Cape Town, NA - South Africa, South Africa · 7 investments in Africa Enterprise startups

4Di Capital is a Cape Town-based venture capital fund management firm focused on early-stage technology investments in sub-Saharan Africa.

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Investment focus

  • Industry: Software, Mobile, Financial Services
  • Stage:Seed, Series A, Series B
  • Geography: South Africa, United States, Uganda

Investor stats

  • Total investments: 27
  • Round size: Seed $431k–$1.7M; Series A $3.4M–$6.4M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Sendmarc — Stop cyber criminals from sending emails using your domain and protect your customers, suppliers and employees from cyber attacks with DMARC Security.
  • Leta — Leta Technology is a software development company that creates supply chain and logistics software to enable the efficient and automated movement of goods.
  • Numida — Growing African small businesses with affordable, convenient, and fair credit.
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Kalon Venture Partners
VC Fund · Johannesburg, NA - South Africa, South Africa · 7 investments in Africa Enterprise startups

A growing number of South Africans are investing in venture capital companies that operate under Section 12J of the Income Tax Act. Contact us now.

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Investment focus

  • Industry: Apps, Mobile Apps, Software
  • Stage:Seed, Series A
  • Geography: South Africa, Luxembourg, United States

Investor stats

  • Total investments: 15
  • Round size: Seed $539k–$3M
  • Lead/follow: 73% lead, 27% follow

Portfolio highlights

  • GoMetro — GoMetro designs deploy and operate flexible mobility platforms. Their proprietary technology stack empowers city leaders, transport managers, corporates, retail centres, property developers, airports and downtown to introduce bold new mobility strategies. Their connected transport digital platform equips transport planners to respond to thechallenges of increased congestion, aged infrastructure, disruptive mobility players, self-driving vehicles and a lack of quality public transport services.
  • Talk360 — Talk360 is an easy-to-use calling app that helps people make affordable international calls to any mobile and landline number. They believe that reliable communication and digital services must be affordable and accessible to everyone, regardless of someone's background. Especially people in emerging countries in Africa, who often need theseservices the most, do not always have the necessary banking possibilities. To bridge this distance, Talk360 will launch the world's first single checkout platform for Africa. This platform will combine all locally available payment methods and currencies across Africa, together with over 1.25 million cash points of sales, and will eventually be available to other companies as well. This means that 500 million Africans will be able to purchase digital services they never had access to before.
  • Sendmarc — Stop cyber criminals from sending emails using your domain and protect your customers, suppliers and employees from cyber attacks with DMARC Security.
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Social Capital
VC Fund · Palo Alto, California, United States · 7 investments in Africa Enterprise startups

At Social Capital, we make big bets on transformational ideas, technology, and people.

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Investment focus

  • Industry: Software, FinTech, SaaS
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, India

Investor stats

  • Total investments: 364
  • Round size: Seed $1M–$5M; Series A $3.5M–$15M; Series B $8M–$35M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Flock — Fair and flexible motor fleet insurance for cars, vans, and mixed fleets. Expert support, online policies and stress-free claims. For UK fleets of 20+ vehicles.
  • Mitra Chem — Mitra Chem is innovating and commercializing iron-based cathode materials to enable mass-market electrification for electric vehicles, energy storage solutions and beyond.
  • Metalink — Metalink is a private chat app that provides NFT collection. They also offer the punk owners to find and chat with other verified holders by simply connecting their wallet.
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MaC Venture Capital
VC Fund · Los Angeles, California, United States · 6 investments in Africa Enterprise startups, 27 in the past 12 months

MaC Venture Capital is a seed-stage venture capital firm that invests in technology startups leveraging shifts in cultural trends and behaviors.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Kenya, Nigeria

Investor stats

  • Total investments: 203
  • Round size: Seed $1.4M–$7M; Pre-Seed $235k–$4M; Series A $3.5M–$50M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Gradia Health — Gradia is an integrated, concierge care platform designed for clinics to support patients with chronic conditions.
  • Exponential Exchange — Exponential Exchange is designing contemporary commodities and brokered financial products.
  • Stoke Space — STOKE Space Technologies seamlessly connecting earth and space.
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Ingressive Capital
VC Fund · Lagos, Lagos, Nigeria · 6 investments in Africa Enterprise startups

Ingressive Capital they provide services in business development, partnerships, and financial support.

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Investment focus

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

Investor stats

  • Total investments: 25
  • Round size: Seed $400k–$2.2M; Pre-Seed $500k–$2.1M; Series A $10M–$15M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • Gamp — Gamp is an IT services provider that offers device protection plans and repair support for tech users and businesses.
  • 54gene — 54gene is a healthcare startup unlocking the African genome to fuel genetic research and development that may lead to new discoveries and benefit all populations.54gene was founded in 2019 by Dr. Abasi Ene-Obong to address the significant gap in the global genomics market: Nearly 90% of genetic material used in pharmaceutical research iscaucasian. Only 2% is African, despite the fact that Africans and people of African ancestry are more genetically diverse than all other world populations combined. As a result, pharmaceutical research and development is lacking the diverse data that may hold the key to medical discoveries and new healthcare solutions.
  • Subsbase — Discover the future of recurring revenue management with Subsbase. Streamline your operations, boost growth, and elevate customer experiences with our cutting-edge platform.
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CDG Invest
VC Fund · Rabat, Rabat-Sale-Zemmour-Zaer, Morocco · 6 investments in Africa Enterprise startups

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.

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Investment focus

  • Industry: Apps, Software, Internet
  • Stage:Pre-Seed, Seed, Convertible Note
  • Geography: Morocco, France, Switzerland

Investor stats

  • Total investments: 21
  • Round size: Seed $294k–$4M; Pre-Seed $200k–$200k
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • Cathedis — Cathedis has been a partner of e-merchants, adapting to the evolutions of the e-commerce market. Taking into account the trends and needs of e-merchants and e-buyers, as the constraints of their business. Their offers are always more important, competitive, personalized, and innovative.
  • Oncorad groupe — Oncorad groupe is a health care organization that specializes in oncology and radiology services for the prevention and treatment of cancer.
  • Freshcut Morocco — Freshcut Morocco is an agro-industrial firm.
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Harambeans
VC Fund · 6 investments in Africa Enterprise startups

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.

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Investment focus

  • Industry: Supply Chain Management, Transportation, Information Technology
  • Stage:Seed, Angel, Grant
  • Geography: Nigeria, Kenya, South Africa

Investor stats

  • Total investments: 9
  • Round size: Seed $100k–$3.1M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Releaf — We are industrializing food processing in Africa. We've led 1000+ smallholder farmers to provide food factories with >7.5 million kilograms of quality crops.
  • MarketForce — MarketForce connects Africa’s informal retail outlets and consumers directly to suppliers of consumer goods and financial services by digitizing orders, delivery, and payments with the aim of solving the last mile distribution challenge.
  • SHYFT Power Solutions — SHYFT builds industrial-grade IoT and integrated software to connect and intelligently manage distributed energy resources (DERs) in markets that struggle with resiliency. SHYFT is pioneering the development of integrated decentralized power systems in emerging markets like Nigeria, leapfrogging over traditional central infrastructure and enablingDERs to scale and support existing but unreliable grids.
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GreenHouse Capital
VC Fund · Ikeja, Lagos, Nigeria · 6 investments in Africa Enterprise startups

GreenHouse Capital’s Founding Partners took their own fintech company Venture Garden Group (VGG) from a 7 employee, ₦30 million revenue startup to a 200 employees, ₦2 billion power house in just 4 years and raised an attention grabbing Series A round from Convergence Partners of South Africa. The uniqueness of their position was not lost on thefounders who then cultivated Garden Institute of Business Entrepreneurs (GIBE) to identify, incubate, and invest in young and innovative tech startups solving global challenges in Emerging Markets. GIBE was created to build a world class talent management hub for young and passionate entrepreneurs while creating a pool of technology inclined businesses and innovation oriented leaders.

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Investment focus

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

Investor stats

  • Total investments: 18
  • Round size: Seed $300k–$12M; Pre-Seed $300k–$1.5M; Series A $15M–$20M
  • Lead/follow: 37% lead, 63% follow

Portfolio highlights

  • Credpal — Buy now, pay later. Split in 6.
  • Yep! — Yep! is a financial super app leveraging technology to deliver seamless financial services and solutions to all Africans.
  • Encore Pay — Encore Pay is a UAE-based FinTech and Payment solutions provider.
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Flat6Labs Tunisia
VC Fund · Tunis, Tunis, Tunisia · 6 investments in Africa Enterprise startups

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

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Investment focus

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

Investor stats

  • Total investments: 22
  • Round size: Seed $64k–$200k; Pre-Seed $65k–$79k
  • Lead/follow: 73% lead, 27% follow
  • Last fund: May invest from a new fund soon — raised $10M in 2019

Portfolio highlights

  • Ahkili — Ahkili is a health tech mobile application for appointment booking that connects patients to psychologists.
  • WeMove — WeMove is a fitness marketplace for daily gym passes. They develop innovative solutions that meet your sports issues.
  • LAMMA — Lamma is a web and mobile platform reinventing urban movement for package delivery through an extended carpooling network.
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Knife Capital
VC Fund · Cape Town, NA - South Africa, South Africa · 6 investments in Africa Enterprise startups

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Investment focus

  • Industry: Software, Information Technology, Manufacturing
  • Stage:Series A, Seed
  • Geography: South Africa, United States, Sweden

Investor stats

  • Total investments: 23
  • Round size: Series A $2M–$6M
  • Lead/follow: 67% lead, 33% follow
  • Last fund: May invest from a new fund soon — raised $10M in 2021

Portfolio highlights

  • Octiv — Octiv is a well-known platform for gym management software.
  • wamly — Streamline your hiring process and save 70% of your hiring hours with Wamly's our one-way video interview software.
  • VoxCroft — VoxCroft is making the world a better, safer place with population-centric intelligence.
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Alumni Ventures
VC Fund · Manchester, New Hampshire, United States · 6 investments in Africa Enterprise startups, 102 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 729
  • Round size: Seed $850k–$7.5M; Series A $1.7M–$26M; Series B $11M–$45M
  • Lead/follow: 3% lead, 97% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • SigNoz — SigNoz is an open-source observability tool to help you find issues in your deployed applications & solve them quickly. It provides logs, metrics, and traces under a single pane of glass. Built with ClickHouse as datastore, it is designed to handle enterprise scale.
  • teachme.to — Teachme.to is a community of learners discovering lessons for everything.
  • Canid — We believe vaccinating shouldn't be hard and it shouldn't be a distraction from what's most important: taking care of the kids.
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Unpopular Ventures
VC Fund · San Francisco, California, United States · 5 investments in Africa Enterprise startups, 18 in the past 12 months

The best companies, off the beaten path.

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Investment focus

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

Investor stats

  • Total investments: 119
  • Round size: Seed $1.2M–$6M; Pre-Seed $370k–$5.5M; Series A $6.8M–$30M
  • Lead/follow: 8% lead, 92% follow

Portfolio highlights

  • 0pass — High security organizations trust 0pass for passwordless authentication. Move infrastructure & apps to phishing-resistant MFA with YubiKeys and biometrics.
  • Trébol — Automatiza el alta de empresas. Acelera el dictamen de actas y poderes con nuestro OCR para actas constitutivas, actas de asamblea, y poderes.
  • NewHomesMate (formerly Propertymate) — Find, compare and buy a new construction home - all in one place.
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Investec
VC Fund · Cape Town, NA - South Africa, South Africa · 5 investments in Africa Enterprise startups

Welcome to Investec. Find out more about us, our businesses, sponsorships and career opportunities.

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Investment focus

  • Industry: Software, Financial Services, Energy
  • Stage:Debt Financing, Series A
  • Geography: United States, United Kingdom, Australia

Investor stats

  • Total investments: 63
  • Round size: Series A $1M–$20M; Debt Financing $105M–$215M
  • Lead/follow: 56% lead, 44% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Adumo — We are your expert partner in payments, enabling you to seamlessly and securely accept payments in-store and online with our true omni-channel experience. Never miss a sale with South Africa's largest independent payments processor.
  • Hecate Energy — Hecate Energy is a developer of solar, wind, and energy storage projects.
  • Pulse Clean Energy — Pulse Clean Energy builds and operates power stations. We deliver power into the UK’s network when it is most needed.
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Ground Squirrel Ventures
VC Fund · Boston, Massachusetts, United States · 5 investments in Africa Enterprise startups

Seed round investment in frontier markets and clean energy

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Investment focus

  • Industry: Renewable Energy, Solar, Energy
  • Stage:Seed, Series A
  • Geography: United States, Zambia, Madagascar

Investor stats

  • Total investments: 27
  • Round size: Series A $1.8M–$5M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • Oze — OZÉ brings African small businesses into the digital era. It is an app that makes it easy for businesses to track sales, expenses, and customer information. The data is analyzed to provide tailored recommendations, reports, and business education. If the entrepreneur needs a little extra support, an OZÉ Coach is just a click away. As they are usingOZÉ to manage their business and learn how to run it better, we are learning about them. Using this data and machine learning, we can predict their credit risk and provide them with affordable capital from our banking partners. With over 20,000 registered users, OZÉ is the largest online community of SMEs in Ghana. The most exciting thing is that OZÉ works; 97% of businesses that have used OZE for at least 9 months are growing or profitable or both!
  • Twende — Twende connect people traveling in the same direction - drivers offer the empty seats in their car to other travelers going the same way.
  • 4G Capital — Financial Services, Small Business Loans, Unsecured Loans, Microfinance, Credit Solutions, Working Capital, Flexible Repayment Options, Quick Loan Disbursements, Collateral-free Loans. banking 4G Capital. Kuza. Kawi, Upia, NXTGEN, africa bank. kenya bank. uganda bank. Green Investment, Sustainable returns. funding. impact
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Proparco
VC Fund · Paris, Ile-de-France, France · 5 investments in Africa Enterprise startups, 15 in the past 12 months

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

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Investment focus

  • Industry: Financial Services, Finance, Energy
  • Stage:Debt Financing, Series B
  • Geography: India, Kenya, Mauritius

Investor stats

  • Total investments: 63
  • Round size: Series B $8M–$40M; Debt Financing $300k–$120M
  • Lead/follow: 42% lead, 58% follow

Portfolio highlights

  • Nuru — Nuru is a solar hybrid site. Nuru (Swahili for "light") is a company dedicated to enhancing connectivity in the Democratic Republic of Congo. Nuru deployed Congo's first solar-based mini-grid in 2017 and is currently constructing a 1.3MW solar hybrid site in Goma, the largest off-grid mini-grid in sub-Saharan Africa.Nuru is arenewable and environment company that specializes in the fields of storage micro-grids and solar energy. The company deployed Congo's first solar-based mini-grid in 2017 and is currently constructing a 1.3MW solar hybrid site in Goma.Nuru was founded in 2015 and headquartered in Goma, Nord-Kivu, Congo.
  • Sabesp — Sabesp is a Brazilian company that engages in providing basic sanitation services such as distribution of treated water, collection, and treatment of sewage. It is currently responsible for supplying water and collecting and treating sewage in the 367 municipalities of São Paulo state. It supplies 27.9 million people with water and provides sewagecollection services to 21.5 million people.Sabesp was founded in 1973 and is headquartered in Sao Paulo, Brazil.
  • Complete Farmer — We are providing cutting-edge technological farming protocols and innovations with a unique business model and logistics that are revolutionizing...
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Justin Mateen
Angel · 5 investments in Africa Enterprise startups, 8 in the past 12 months

Justin Mateen is the Founder of Tinder, the world's largest dating platform. Founded in 2012, Tinder is the highest grossing app on Apple's app store since 2017 and was valued at over $40 Billion dollars in 2021. In 2021, Business Insider ranked Mateen as the best early stage investor in the US, placing him at the number 1 spot on thetop 100 list of US Seed Investors. In 2020, Forbes included Mateen on their list of the decade's top 10 tech entrepreneurs. Fast Company has listed him as one of the most creative people in business.

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Investment focus

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

Investor stats

  • Total investments: 123
  • Round size: Seed $841k–$7M; Pre-Seed $400k–$1M; Series A $4.7M–$14M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • Whop — One-stop-shop for all the latest and greatest digital products to help you earn online. From trading software to reselling communities, we've got you.
  • Slash — Tens of thousands of online businesses use Slash to track their profits, earn cash back, and get faster payouts from platforms like GOAT and Amazon. No LLC required, no account fees, no minimum balance, and no credit checks.
  • Somethings — We connect your teen with a professional, trained 20-28 year old mentor who supports your teen via text and video call whenever they need. Start today.
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Cem Garih
Angel · London, England, United Kingdom · 5 investments in Africa Enterprise startups

Investor

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Investment focus

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

Investor stats

  • Total investments: 26
  • Round size: Seed $841k–$4.3M; Pre-Seed $460k–$1M; Series A $5M–$17M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Troop — Troop is an app for retail investors to vote, organize shareholder resolutions and activist campaigns. Sign up for early access today.
  • Moment — Quickly deploy a full suite of fixed income investing tools to your clients in no time via our modern APIs. Trusted by firms representing over $100B in assets.
  • TradeX — TradeX lets you take positions on future events. Predict the outcome using data, earn money and learn something new. Earn Money online with online trading. Download the app & get FREE signup bonus.
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TLcom Capital Partners
VC Fund · London, England, United Kingdom · 5 investments in Africa Enterprise startups

TLcom Capital, is an Africa focused tech VC, with offices in Lagos, Nairobi and London. TLcom had been investing since 1999 in Tech, Media, Mobil and Internet companies across Europe, US and Africa, which is the exclusive focus of its most recent TLcom TIDE Africa funds. TLcom manages total commitments of approximately 300 million USD in thesesectors via a series of dedicated investment vehicles. Our investment strategy is to identify, back and assist world class entrepreneurs and management teams with disruptive technologies and business models, compelling intellectual property and deep market knowledge. We primarily target companies focused on Africa as a prime market, in the following investment themes: Access to Data Service; Financial Services; eCommerce; B2C applications (including but not limited to: health, education, energy, media and entertainment); and Software solutions to corporates and SMEs.

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Investment focus

  • Industry: Software, Mobile, Information Technology
  • Stage:Series A, Series B
  • Geography: Nigeria, United States, United Kingdom

Investor stats

  • Total investments: 51
  • Round size: Series A $3.5M–$13M; Series B $10M–$27M
  • Lead/follow: 49% lead, 51% follow
  • Last fund: Likely still investing — raised $150M in 2022

Portfolio highlights

  • Sabipay — Pastel is a leader in Artificial Intelligence. We build products targeted at individuals (SwiftMoney) and enterprises (Sigma) in emerging markets
  • Talstack — Talstack is an all-in-one platform for employee growth and development
  • Terragon Group — Terragon is a leading Data and Marketing Technology company that uses data and analytics to help companies focused in Africa, intelligently connect at scale to their customers. We use an aggregation of online and offline data, and predictive scoring to help brands, marketing agencies and platforms accurately target people across channels anddevices. Headquartered in Lagos; Nigeria, we also have a presence in Kenya, South Africa, Ghana and India.
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AfricInvest
VC Fund · Tunis, Tunis, Tunisia · 5 investments in Africa Enterprise startups

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

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Investment focus

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

Investor stats

  • Total investments: 66
  • Round size: Series A $1.7M–$65M; Private Equity $6.5M–$14M
  • Lead/follow: 73% lead, 27% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • Bizao — Bizao vous permet d'accepter les moyens de paiement en ligne en Afrique pour la commercialisation de vos services et/ou produits.
  • Turaco — Turaco develops simplified insurance and credit solutions through mobile technology to solve the healthcare financing needs. Turaco has simplified insurance products and also provides on-demand health loans, allowing customers to get healthcare at affordable monthly premiums.
  • MFS Africa — MFS Africa is the largest mobile money inter-operability hub in Africa, which connects mobile network operators across the continent through a single API. In addition to mobile remittance services, the MFS Africa API enables merchant payment, bulk payment, bank-to-wallet transfers, and an array of other cross border digital payments services.
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Lateral Frontiers
VC Fund · New York, New York, United States · 5 investments in Africa Enterprise startups

Lakeland Dental Offers Family Dentistry, Teeth Whitening, Tooth Fillings, Dental Crowns, & Dental Implants. Call Us In Staples, Clarissa, Or Long Prairie, MN

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Investment focus

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

Investor stats

  • Total investments: 33
  • Round size: Seed $1M–$3M; Pre-Seed $500k–$3.5M; Series A $558k–$15M
  • Lead/follow: 18% lead, 82% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • CNote — CNote created technology to streamline community-centered impact investing at scale. Further Racial Equity and Social Justice by investing with CNote.
  • Rhaeos — Rhaeos, the world's first wearable shunt monitor, aims to improve the quality care for patients with hydrocephalus through a novel, thermal biosensor. Developed within Northwestern University with collaboration between Dr. John Rogers, McCormick School of Engineering, Feinberg School of Medicine and Kellogg School of Management, Rhaeosrepresents a unique multidisciplinary translational effort for an important clinical need.
  • Masa — Masa Finance seeks to disrupt traditional centralized credit infrastructure by providing individuals, businesses, and developers with the tools to access credit and enable untapped wealth creation for 4.95B people globally.
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Michael Seibel
Angel · San Francisco, California, United States · 5 investments in Africa Enterprise startups, 9 in the past 12 months

Michael Seibel is the Managing Director and Group Partner of Y Combinator. He previously worked at Socialcam as a CEO. Michael Seibel attended Yale University.

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Investment focus

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

Investor stats

  • Total investments: 77
  • Round size: Seed $120k–$5.3M; Series A $5M–$20M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • Awesomic — Get matched with the best-fit designer on a fixed budget with no stress. Place a design task and see the first results on the next business day. Start today!
  • Artifact — Artifact helps capture important memories with ease by creating personal podcasts with the people of customers choice.
  • Superorder — The top off-premise operating system for restaurants. Focus on making the food that you love and we'll take care of the rest.
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Miles Morland
Angel · London, England, United Kingdom · 5 investments in Africa Enterprise startups

Miles co-founded DPI in 2007 after having become non-executive Chairman of Blakeney Management (Blakeney) in July 2006 by which time the firm was considered to be one of the largest portfolio investors in many African stock markets. Blakeney was set up by Miles in 1990, first as a consultancy and, since 1994, as an asset management firm, investingin Africa and the Middle East. Blakeney was one of the first investors in many African markets and Miles played an active role in the development of markets in countries such as Ghana, Morocco, Egypt, Kenya and Tunisia.Before starting Blakeney, Miles spent 22 years in money management and investment banking in London and on Wall Street.Miles is also on the boards of SABMiller plc, the world’s second largest brewer and SouthWest Energy (BVI) Ltd, an Ethiopian oil exploration company. He was the founder and chairman for five years of the London Business School’s Africa Board. He read Law at the University of Oxford. Miles is a British citizen.

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Investment focus

  • Industry: Internet, Education, Publishing
  • Stage:Pre-Seed
  • Geography: Mozambique

Investor stats

  • Total investments: 5
  • Round size: Pre-Seed $7k–$12k
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Ethale Books App — The Ethale Books App by Ethale Publishing is the first-ever East African multilingual book app featuring local content. It is one of the first in the developing world to be specifically designed for android mobile phones and not e-readers. The trilingual app will make books available in Portuguese, Swahili and English for free, with revenuesustained via a mobile advertising strategy.
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