Africa’s startup ecosystem is thriving with innovative ideas and entrepreneurial spirit. From fintech and agritech to healthcare and renewable energy, entrepreneurs across the continent are getting due credits for creating tech-enabled solutions to local challenges while driving economic growth.
But behind many of these success stories are venture capitalist firms and investors that provide funding, mentorship, and strategic guidance. These organizations provide the crucial backup for the African startup community and are the primary enablers of the results emerging companies produce.
Here, we’ve identified 12 venture capital firms based in Africa that are making a remarkable impact in shaping the continent’s future.
Flat6Labs
HQ: Cairo, Egypt
Flat6Labs is a leading venture capital firm that actively supports early and seed-stage startups in Africa. The company identifies deserving companies and provides them with essential financial resources and comprehensive support to foster their growth.
Flat6Labs focuses on technology-driven companies that offer innovative solutions to everyday challenges for Africans. It boasts an impressive portfolio of over 100 companies spread around North Africa and the Middle East Regions. Notable mentions in its portfolio include Instabug, Dabchy, and MoneyFellows among others
Flat6Labs provides a wide range of investment ticket sizes between $50,000 and $500,000 for companies within pre-seed to pre-series A funding stages. In exchange, it receives equity in the companies to become their institutional co-founders.
Launch Africa Ventures
HQ: Cybercity Ebene, Mauritius
Launch Africa Venture is a Pan-African investment company dedicated to bridging the funding deficit that’s stunted the growth of several innovative African startups. It partners with Seed and Pre-series A stage startups, providing them with the capital, enterprise solutions, and intellectual resources they need to scale their operations.
Launch Africa Ventures focuses on technological B2B and B2C startups that are tackling meaningful challenges on the African continent. It boasts a rich portfolio of over 130 companies from 22+ countries in Africa. Notable companies in Launch Africa’s books include Kuda, MVX, Peach Payments, Workpay, and Bypa-ss.
Launch Africa provides a range of investment ticket sizes between $200,000 and $300,000. As a result, it’s one of the prominent financial partners in the African startup ecosystem.
Algebra Ventures
HQ: Cairo, Al Qahirah, Egypt
Algebra Ventures is a VC firm actively partnering with early-stage technology startups in Africa, providing them with the necessary financial resources to succeed. It primarily focuses on promising technology companies that are addressing social and commerce problems with innovative solutions. It aims to facilitate their growth, improvement, and expansion.
Established in 2016, Algebra Ventures has quickly established itself as a key player in the African startup ecosystem. The firm has a robust portfolio of startup companies predominantly operating within North Africa with a particular preference for the e-commerce, fintech, proptech, and Logistics sectors.
Algebra Ventures’ portfolio includes notable companies such as Khazna, Trella, Yodawy, Halan, and Eventus among others. Since beginning operations, it has successfully unveiled over $144 million in funds. And it has judiciously utilized this fund to provide startups with the necessary financial backing, mentorship, and strategic guidance to accelerate their growth trajectory.
LoftyInc Capital Management.
HQ: Lagos, Nigeria
LoftyInc Capital Management is a venture investment company dedicated to helping African SMBs access all the resources they need to grow. It focuses on early-stage startups, providing them with financial aid to augment their efforts and scale up.
LoftyInc Capital Management is sector-agnostic in its approach to business funding. It instead focuses on identifying technology companies addressing social and economic challenges in Africa. Its primary interest is in startups with innovative solutions.
Since it commenced operations in 2011, it has impacted several companies through funding and partnerships. Its robust portfolio profile boasts over a hundred startups across multiple funding stages. Some of the most notable names on its list include Reliance HMO, Printivo, Homefort, and Flutterwave.
LoftyInc also has an angel investment arm called the Afropreneur Angel Group. Through this arm, it connects angel investors with startup businesses.
TLcom
HQ: Lagos, Nigeria
TLcom is a venture capital firm that specializes in technology investments across Sub-Saharan Africa. It provides early to growth-stage startups with capital and strategic guidance to accelerate their growth.
TLcom primarily focuses on fintech, consumer internet, and enterprise software services providers. It partners with and supports innovative entrepreneurs leveraging technology to solve real challenges in Africa, particularly in the areas of telecommunication and information technology
Having been around for more than 2 decades, TLcom has had an undeniable impact on the startup and investments ecosystem over the years. The company has helped several startup companies grow into self-sustaining conglomerates. Some of the biggest current names in the company’s portfolio include Twiga Foods, Andela, Terragon, Seamless HR, Ilara Health, Pula, and Vendease.
Verod Kepple Africa Ventures
HQ: Lagos, Nigeria
Verod Kepple Africa is a VC firm that actively supports and encourages the development of innovative solutions inciting revolutionary changes in Africa. The company actively engages and supports exceptional founders creating solutions that are bridging the gaps between the status quo and the ideal future of the continent.
The company was formed through a merger between Private equity firm Verod Capital and Kepple Africa. Hence, it combines the expertise of Verod Capital Management and Kepple Africa Ventures, bringing together a wealth of experience in private equity and venture capital investing.
Verod Kepple uses its extensive network and industry knowledge to identify promising startups and provide them with the necessary capital, strategic guidance, and operational support. Notable companies in Verod Kepple’s portfolio include Chari, Moove, Nowpay, Shuttlers, Julaya, and Ceviant.
Renew Capital
HQ: Addis Ababa, Ethiopia
Renew Capital is an impact investment firm working to foster entrepreneurship, innovation, and economic growth in Africa. The company aims to redefine how the world engages with Africa concerning venture building and investing.
Renew Capital invests in growth-oriented African SMBs, particularly startups. It focuses primarily on companies in the renewable energy, clean technology, agriculture, and sustainable solutions sectors. Not only that, but it also connects investors from all around the world with tech startups in Africa through its Renew Capital Angels Network.
The company has an average investment size of $258,000 with a remarkable portfolio featuring interesting startups such as Xente, Badili, and Easy Matatu.
Partech
HQ: Dakar, Senegal
Partech is a leading venture capital firm with a focus on technology investments in Africa. It aims to contribute to the development of scalable solutions that address pressing challenges and drive economic growth. Hence, it identifies and supports high-potential startups across the continent.
Partech’s investment strategy centers around providing early-stage and growth-stage capital to companies providing financial, healthcare, and educational services using technology.
Partech’s portfolio consists of a diverse range of startups, reflecting the firm’s commitment to supporting ventures with transformative potential. Some of the notable startups in Partech’s portfolio include Nomba, Orus, TradeDeport, Wave, Yoco, and Zolar.
Knife Capital
HQ: Cape Town, South Africa
Knife Capital is a growth equity investment firm helping innovation-driven technological companies grow by supplying them with capital and intellectual resources. It leverages its vast network, knowledge, and funding resources to accelerate the expansion of entrepreneurial startups across Africa.
It primarily invests in seed-stage technology companies via a consortium of funds under management. Knife Capital’s current portfolio features over 200 companies spread across 30+ countries within and outside Africa. Some notable companies on its list include Grindstone Ventures, Dataprophet, and Octi.
EchoVC Partners
HQ: Cape Town, South Africa
EchoVC Partners is a Pro-women-led startup VC firm. It unapologetically supports female-led startups across Africa. The company primarily focuses on investing in underrepresented and underserved minorities in the African startup ecosystem.
EchoVC seeks out early, seed, and growth-stage startups with bold ideas and business models harnessing technology to deliver value to Africans. It then supports them with the necessary resources to develop their products.
Echo VC is sector-agnostic, choosing to invest in companies driving notable solutions regardless of the industry or market. It has an impressive portfolio featuring interesting startups such as Lori, FinAccess, Cellulant, and Gro Intelligence.
Future Africa
HQ: Lagos, Nigeria
Future Africa is a Pan-African venture investment firm that partners with early and seed-stage technology startups to help them grow. It identifies remarkable startup companies within Africa and provides them with the finances they need to scale, improve or expand their products.
The company officially began operations in 2020, but it has quickly emerged as a key player in the African startup ecosystem. It primarily focuses on technology companies providing Fintech, Logistics, and IT services.
It has built an impressive portfolio within its few years of operation funding the likes of Kobo, Indicina, Kasi, Moniemie, Bamboo, Spleet, and MarketForce.
Ingressive Capital
HQ: Lagos, Nigeria
Ingressive Capital is a VC firm supporting the growth of tech-enabled startups in Africa. The company targets Pre-seed to Seed stage companies with the goal of growing them to unicorn status.
Ingressive Capital identifies and funds post-launch founders with products that have the potential to solve big problems. They also provide these companies with business development resources, partnerships, and intellectual support to help them scale. In return, they target a 10% ownership in the companies they fund.
The company has an average investment size of $400,000 and has invested in several remarkable startups in Nigeria, Ghana, Kenya, and Egypt. Some notable startups on its list are Mono, Oze, Grey, Gwala, Tizeti, Payday, and Complete Farmer.
