Africa

Our H1 Fundraising Report shows fundraising totals stabilizing, but the number of funds continuing to decline.

LPs include IFC, FASA, Shell Foundation, Trafigura Foundation, Speedinvest, Blink Impact, FSD Africa and Cisco Foundation.

The pan-African development financier is targeting African-owned funds to direct attention to African tech and attract institutional capital.

The firm began fundraising in March 2025 for Fund IV, which is targeting $50m to make seed investments in software start-ups.

The appointment reflects expanding demand for entrepreneurial ecosystem development and AI readiness across emerging markets.

Fundraising for the global venture capital industry totaled $80.1bn in 2025, down 38% from the previous year, according to Venture Capital Journal research.

VCs worldwide raised a combined $16.8bn, the lowest quarterly figure since Q4 2015, according to Venture Capital Journal research.

The Kenya-based early-stage investor began as an accelerator program and backed more than 60 companies before launching its first equity fund.

The firm’s Inclusive & Sustainable Ventures cohort is expanding its focus this year for the first time to include four non-profits in Nigeria, South Africa and the US.

The fund's LPs include the Dutch entrepreneurial development bank FMO, Ford Foundation, MetLife and Mastercard.