A List Of Newly Launched VC Funds African Startups Can Pitch In 2021

As venture capital firms targeting African startups intensify their investments on the continent, knowing which firms still have funds in their coffers may make a major difference and great way of starting the pitching journey this year. Below, we have curated some of the freshly launched venture capital funds on the continent. A majority of them were launched between 2019 and 2020. Afrikan Heroes wishes you a successful fund-scouting adventure this year.

Startup

VC funds African startups 2021 VC funds African startups 2021

Read also: Do Accelerator Programmes Really Matter For Startups In Africa?

S/NINVESTOR/FUNDSIZE OF THE FUNDTARGET SECTORCOUNTRY  LOCATIONS
1Enza Capital $50k to $1mEarly stage African startups Nairobi, Kenya
2Alex Angels$6 millionEgyptian startupsEgypt
3Enygma Ventures$7.9 millionSouthern Africa women-led startupsSouth Africa
4JUA Kickstarter Fund$1 millionAfrican startupsZimbabwe
5Sherpa Ventures$1 millionAfrican startupsJapan
6Cairo Angels$1 millionEgyptian startupsEgypt
7Foundation VenturesAverage ticket size $300,000Egyptian startupsEgypt
8Dislog Group$1 millionLogistics startups MoroccoMorocco
9Enpact (German NGO)Average ticket size $10,000African startupsGermany
10Grindstone VenturesAverage ticket size $288kSouth African startupsSouth Africa
11Novastar Ventures$108 millionEast and West African startupsNairobi, Kenya;  Lagos, Nigeria.
12Azur Partners$35 millionMoroccan startupsMorocco
13Global Ventures$50 millionAfrican startupsDubai, UAE
14Green Outcomes Fund, managed by GreenCape$27 millionSouth African green startupsSouth Africa
15AFZA CapitalAverage ticket size $250kEast African startupsKenya
16Impact Investment Fund (Palladium)$40 millionAfrican startups 
17ShEquitySouthern, Western  and Eastern African startupsKenya
18Tony Elumelu Foundation$24 millionAfrican women foundersNigeria
19Pacer Ventures$3 millionAfrican startupsLagos, Nigeria; Johannesburg, South Africa.
20E4E Africa$8.2 millionSouthern African startupsSouth Africa
21Samurai Incubate Africa$18 millionAfrican startupsJapan
22WZ Capital and SA’s Technology and Innovation AgencyAverage ticket size $60kSouth Africa African startupsSouth Africa
23Kingson Capital$100 millionSouth African startupsSouth Africa
24Kepple African VenturesAverage ticket size $100kAfrican startupsJapan
25TLcom Capital$71 millionAfrican fintech startupsNigeria
26Naspers Foundry$100 millionSouth African startupsSouth Africa
27Outlierz VenturesCo-invests in deals above $1 millionAfrican startupsMorocco
28AfricInvest Innovation Fund$19.4 millionAfrican startupsTunisia
29Toyota’s  Mobility Fund$45 millionAfrican mobility startupsJapan
30VC4A  Venture ShowcaseAverage ticket sizes $150k-$1mAfrican startupsNetherlands
31Echelon Capital$1 millionNigerian startupsNigeria
32Meta Change Capital$113 millionAfrican blockchain startupCaymans Islands
33Partech$100 millionAfrican startupsSenegal
34Alitheia IDF Fund$75 millionAfrican startupsNigeria; South Africa
35Kudi VenturesUndisclosedEthiopian startupsEthiopia
36Accion Quona Inclusion Fund (Lulalend; Sokowatch)$203millionAfrican fintech startupsUSA
37Imperial and Newtown Partners$20 millionAfrican logistics startupsSouth Africa
38Lateral Capital$50 millionAfrican startupsNairobi; Lagos; Johannesburg
39Mediterrania III (Verod Capital)$27.5 millionNorth and West African mid-stage startupsLagos
40Adiwale 1 Fund$20 millionWest African startupsNigeria
41Verod Cap Growth III Fund$20 millionWest African startupsLagos
42Metier Sustainable Capital II Fund$20 millionSub-saharan solar energy startupsNorway
43Janngo Capital Startup Fund$80 millionAfrican startupsCote d’ivoire
44Future Africa InititativeAverage ticket size $50,000African startupsNigeria
45Xecced Ventures$100 millionAfrican startupsLondon, United Kingdom
46BECO Capital$100 millionNorth African startupsDubai, UAE
47Alternative Investment Fund$8 millionAfrican off-grid startupsNorway
484Di Capital Fund III$8.4 millionSouth African startupsSouth Africa
49Nimai Emerging Financial Services Fund$150mStartups in Kenya, Ghana and TanzaniaDubai, UAE
50Norrsken FoundationAverage ticket size $25k-$100kStartups in East AfricaSweden
51Seven Inc.$10 millionGhanaian StartupsGhana
52Proparco and Digital Africa Bridge Fund$6.5 millionAfrican startups

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer