Africa’s startup financing has improved. Since 2015, thousands of investors — angels, VC and PE companies, credit institutions, HNWIs, family offices, accelerators, incubators, development financing institutions, non-profits, etc. — have invested in the continent’s startup ecosystem. In sketching this list of the latest investors in African tech startups, what was most noticeable was the rise of new ecosystem funds in the past year, between January 2021 and May 30 2022.
As more of Africa migrates to the internet due to the coronavirus pandemic, more funds of this type are projected to emerge.
The list below, containing over 600 investors in African startups, is not complete of all ecosystem investors. Only reported investors were covered.
Because of the nature of startups, venture capital firms are favoured over other investors.
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Some of the investors include:
| SN | Name of Investor | Country of Operations | Sector/Stage Focus | Average Investment Ticket Size (In USD) ~ = estimates, based on average investment amount | Year (s) of Investment | Notable Investments | More Information |
|---|---|---|---|---|---|---|---|
| 1 | Boleh Venture | ASEAN, Singapore, India | Fintech and ecommerce (Boleh Ventures is a community of founders, startup veterans and angel investors) | N/A | 2022 | Norebase | https://sg.linkedin.com/company/bolehventures |
| 2 | Kinfolk VC | Nigeria | Agriculture, healthcare, educational, enterprises, real-estates, finance, consumers, logistics, and transportation sectors in Nigeria. | N/A | 2022 | Norebase | https://kinfolk.vc/ |
| 3 | Wuri Ventures | Senegal | Information asymmetry (data), fragmentation (platforms) and public goods (electricity, mobility) | ~ 500,000 | 2021; 2022 | WhereIsMyTransport; Norebase | https://www.wuri.ventures/ |
| 4 | Heifer International | Heifer International | Agritech | ~ 1 Million | 2022 | Hello Tractor | https://www.heifer.org/ |
| 6 | WndrCo | California | Black/African American (US only) | ~ 1 Million | 2021 | Yassir Maroc | https://www.wndrco.com/ |
| 7 | DN Capital | London (UK); California (USA) | Early-stage investing primarily in Europe and North America. | ~ 1 Million | 2021 | Yassir Maroc | https://www.dncapital.com/ |
| 8 | Spike (Stanford Alumni) Ventures | USA | Invests in Stanford-connected companies. | ~ 500,000 | 2021 | Yassir Maroc | https://www.av.vc/funds/spike |
| 9 | Nelore Capital | California, USA | Focused on publicly traded tech companies. | ~1 Million | 2021 | Yassir Maroc | https://www.linkedin.com/company/nellore-capital-management |
| 10 | Moving Capital (AKA the Uber Alumni Investment Club); | California, USA | Investor syndicate backing startups founded by former Uber employees, | ~1 Million | 2021 | Yassir Maroc; Trella | https://www.movingcapital.com/ |
| 11 | Quiet Capital | California (USA) | Early Stage Venture, Late Stage Venture, Seed, | ~1 Million | 2021 | Yassir Maroc; JABU | https://www.quiet.com/ |
| 12 | FJ Labs | New York, USA | Stage-agnostic investment firm focusing on marketplaces and consumer facing startups. | ~1 Million | 2021 | Yassir Maroc; JABU Logistics; Sendbox; Alerzo; Moove Africa | https://fjlabs.com/ |
| 13 | Kismet Capital | Russia | Technology | ~1 Million | 2021 | Yassir Maroc | https://www.kismetcap.com/ |
| 14 | ODX | Canada | Data | ~500,000 | 2022 | OnePort 365 | https://www.beondeck.com/community-fund |
| 15 | FCA Investments | Finland | Impact investor, investing in resilient, sustainable, and impactful SMEs. | ~500,000 | 2022 | Laboremus | https://www.fcainvestments.fi/?lang=en |
| 16 | Haskè Ventures | Senegal | Early stage; francophone Africa | ~100,000 | 2022 | Kwely; ProXalys | http://www.haskeventures.com/en/ |
| 17 | DNA Capital | Brazil | Multi-stage | ~100,000 | 2021 | Kwely | https://dnacapital.com/ |
| 18 | UMA Ventures | Hong Kong | A collective for the promotion of creative systems. | ~100,000 | 2021 | Kwely | https://www.linkedin.com/company/umaverse/?originalSubdomain=hk |
| 19 | MAIC Investors Club | Madagascar | Invests in Malagasy founders | ~100,000 | 2022 | Sayna | |
| 20 | Greater Impact Foundation | USA | Impact Investor | ~500,000 | 2022 | Farmerline | Greater Impact Foundation |
| 21 | Dragonfly Capital | California, USA | Cryptoasset investment | ~1 Million | 2022; 2021 | Afriex; VIBRA | https://www.dcp.capital/ |
| 22 | Goldentree | New York | Asset managment | ~1 Million | 2022 | Afriex | https://www.goldentree.com/ |
| 23 | Stellar Foundation | California, USA | Stellar, a blockchain network that connects financial infrastructure. | ~1 Million | 2022 | Afriex; Tala | https://www.stellar.org/foundation?locale=en |
| 24 | Exceptional Capital | London (UK); Los Angeles (USA) | B2B software; Web 3 startups | ~1 Million | 2022 | Afriex | https://exceptioncapital.com/ |
| 25 | UM6P Ventures | Rue De La Lavande, Casablanca, Morocc | Invests in Moroccan early stage tech startups | ~100,000 | 2022 | ATAREC; WafR | https://um6pventures.com/ |
ALSO:
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DOWNLOAD LIST OF INVESTORS IN AFRICAN TECH STATRTUPS BETWEEN 2015 AND 2021 (UPDATED)
DOWNLOAD LIST OF INVESTORS IN AFRICAN MOBILITY/RIDE-HAILING STARTUPS
DOWNLOAD LIST OF INVESTORS IN FRANCOPHONE AFRICAN TECH STARTUPS
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh