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.
VC funds African startups 2021 VC funds African startups 2021
Read also: Do Accelerator Programmes Really Matter For Startups In Africa?
| S/N | INVESTOR/FUND | SIZE OF THE FUND | TARGET SECTOR | COUNTRY LOCATIONS |
|---|---|---|---|---|
| 1 | Enza Capital | $50k to $1m | Early stage African startups | Nairobi, Kenya |
| 2 | Alex Angels | $6 million | Egyptian startups | Egypt |
| 3 | Enygma Ventures | $7.9 million | Southern Africa women-led startups | South Africa |
| 4 | JUA Kickstarter Fund | $1 million | African startups | Zimbabwe |
| 5 | Sherpa Ventures | $1 million | African startups | Japan |
| 6 | Cairo Angels | $1 million | Egyptian startups | Egypt |
| 7 | Foundation Ventures | Average ticket size $300,000 | Egyptian startups | Egypt |
| 8 | Dislog Group | $1 million | Logistics startups Morocco | Morocco |
| 9 | Enpact (German NGO) | Average ticket size $10,000 | African startups | Germany |
| 10 | Grindstone Ventures | Average ticket size $288k | South African startups | South Africa |
| 11 | Novastar Ventures | $108 million | East and West African startups | Nairobi, Kenya; Lagos, Nigeria. |
| 12 | Azur Partners | $35 million | Moroccan startups | Morocco |
| 13 | Global Ventures | $50 million | African startups | Dubai, UAE |
| 14 | Green Outcomes Fund, managed by GreenCape | $27 million | South African green startups | South Africa |
| 15 | AFZA Capital | Average ticket size $250k | East African startups | Kenya |
| 16 | Impact Investment Fund (Palladium) | $40 million | African startups | |
| 17 | ShEquity | – | Southern, Western and Eastern African startups | Kenya |
| 18 | Tony Elumelu Foundation | $24 million | African women founders | Nigeria |
| 19 | Pacer Ventures | $3 million | African startups | Lagos, Nigeria; Johannesburg, South Africa. |
| 20 | E4E Africa | $8.2 million | Southern African startups | South Africa |
| 21 | Samurai Incubate Africa | $18 million | African startups | Japan |
| 22 | WZ Capital and SA’s Technology and Innovation Agency | Average ticket size $60k | South Africa African startups | South Africa |
| 23 | Kingson Capital | $100 million | South African startups | South Africa |
| 24 | Kepple African Ventures | Average ticket size $100k | African startups | Japan |
| 25 | TLcom Capital | $71 million | African fintech startups | Nigeria |
| 26 | Naspers Foundry | $100 million | South African startups | South Africa |
| 27 | Outlierz Ventures | Co-invests in deals above $1 million | African startups | Morocco |
| 28 | AfricInvest Innovation Fund | $19.4 million | African startups | Tunisia |
| 29 | Toyota’s Mobility Fund | $45 million | African mobility startups | Japan |
| 30 | VC4A Venture Showcase | Average ticket sizes $150k-$1m | African startups | Netherlands |
| 31 | Echelon Capital | $1 million | Nigerian startups | Nigeria |
| 32 | Meta Change Capital | $113 million | African blockchain startup | Caymans Islands |
| 33 | Partech | $100 million | African startups | Senegal |
| 34 | Alitheia IDF Fund | $75 million | African startups | Nigeria; South Africa |
| 35 | Kudi Ventures | Undisclosed | Ethiopian startups | Ethiopia |
| 36 | Accion Quona Inclusion Fund (Lulalend; Sokowatch) | $203million | African fintech startups | USA |
| 37 | Imperial and Newtown Partners | $20 million | African logistics startups | South Africa |
| 38 | Lateral Capital | $50 million | African startups | Nairobi; Lagos; Johannesburg |
| 39 | Mediterrania III (Verod Capital) | $27.5 million | North and West African mid-stage startups | Lagos |
| 40 | Adiwale 1 Fund | $20 million | West African startups | Nigeria |
| 41 | Verod Cap Growth III Fund | $20 million | West African startups | Lagos |
| 42 | Metier Sustainable Capital II Fund | $20 million | Sub-saharan solar energy startups | Norway |
| 43 | Janngo Capital Startup Fund | $80 million | African startups | Cote d’ivoire |
| 44 | Future Africa Inititative | Average ticket size $50,000 | African startups | Nigeria |
| 45 | Xecced Ventures | $100 million | African startups | London, United Kingdom |
| 46 | BECO Capital | $100 million | North African startups | Dubai, UAE |
| 47 | Alternative Investment Fund | $8 million | African off-grid startups | Norway |
| 48 | 4Di Capital Fund III | $8.4 million | South African startups | South Africa |
| 49 | Nimai Emerging Financial Services Fund | $150m | Startups in Kenya, Ghana and Tanzania | Dubai, UAE |
| 50 | Norrsken Foundation | Average ticket size $25k-$100k | Startups in East Africa | Sweden |
| 51 | Seven Inc. | $10 million | Ghanaian Startups | Ghana |
| 52 | Proparco and Digital Africa Bridge Fund | $6.5 million | African 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