Midweek Check-In: Top 10 African VC firms that are actively funding tech companies
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Dumela, Dear Innovator 🌀
Pronounced as ‘doo-meh-lah’, that’s how people say ‘hello’ in Sesotho, the official language in Lesotho.
It’s a lot (we know 🥴😅), but since you’re not here for the history lessons, let’s jump right into it
Innovator, this is to remind you: At the start of the year, you made some promises to yourself (and probably to some of your team members) that you are going to do things differently in 2025.
**clears throat
No fear, we don’t wanna see your New year’s resolution list, but we DO have something that’ll definitely help you achieve a lot of things that you’d written on there 😉
Funding is always a headache for Innovators on this side of the equator, and if you don’t know where to start, it might also be particularly challenging.
Of all the numerous ways that you can get funding for your tech business, VC (Venture Capital) firms always seem to be a party favourite because their investments often come with: strategic guidance, mentorship, network access, and sometimes operational support.
When they invest in tech businesses, it’s also not uncommon for them to lend help with business strategy, scaling operations, hiring key personnel, and preparing for further growth or exit strategies.
We know you know that aside from the 👀 money, you might need help in some of the above-listed areas too, right?
So, in no particular order, here are the top 10 African/Africa-focused VC firms who are always on the lookout for African tech businesses to invest in:
This Africa-focused VC is notable for backing companies like Jumia Group, Yoco, Wave, Reliance Health, and a host of others. They invest in tech companies across various sectors: fintech, enterprise software, or mobility.
If your tech solution has what it takes to handle that level of exposure, if they decide to take you on, you should give it a try! 😉
This VC, based in Lagos, focuses on pre-seed to seed stage tech companies across Sub-Saharan Africa. Some of their notable investments include Mono, Oze, Grey, and Complete Farmer. They usually aim for 10% ownership in the companies they fund, with investments typically up to $400,000.
Although they are based in the UK, they’ve had a broad portfolio across Africa since 1999, focusing on sectors like fintech, healthcare, and logistics. They have backed companies like Twiga Foods and Onafriq.
Sounds like a good fit for you? 🤔
It’s a Pan-African investment company that supports seed and pre-Series A tech companies with investments ranging from $200,000 to $300,000. Their portfolio includes Afriex and BitMama
Lastly, this VC is operating from Lagos and Nairobi, and they invest in early-stage tech companies in Africa, focusing on areas like fintech, real estate, waste management, and healthcare. Their portfolio includes innovative companies like OneLiquidity and Hotels.ng
Seen any VC that’s giving you the green🚦light? We’ll do part ✌ for sure!
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What have you been missing???
Twice a week, every Wednesday and Saturday, we send out newsletters to our audience of tech innovators, entrepreneurs and tech enthusiasts.
If you’d missed out on reading a couple of ‘em, no worries, here’s a quick recap for you…
AI is BIG rn and there’s a reason why! 💯
We’re barely 15 days into 2025. You 🫵 NEED a focus point for your tech solution.
Your pitch deck might not be an investor’s first impression of your tech solution, but it’ll definitely be the one that lasts the longest 💯
On Saturday, we’ll walk you through how to create a story that resonates, how to build trust slide by slide, and the key to turning your tech vision into their next big investment. Don’t miss it!