Startup Funding in Africa

Early backer of Paystack.

Portfolio includes LemFi, Bumpa and Rise Vest.

Founded by Iyinoluwa Aboyeji, co-founder of Andela and Flutterwave.

Founded by Maya Horgan Famodu; early investor in Paystack.

Early investor in Flutterwave, Andela and Moove.

Founded by Adesuwa Okunbo Rhodes; an explicitly gender-lens fund.

Co-founded by Nigerian angel investor Olumide Soyombo.

Portfolio includes LemFi and Healthtracka.

Acquired Kenya's iHub in 2019 to form one of Africa's largest innovation networks.

Techstars-powered accelerator anchored by a major Nigerian asset manager (ARM).

Has funded more than 27,000 young Africans with $5,000 seed capital since 2015.

The first licensed non-interest bank in Nigeria; commenced operations in January 2012.

A dedicated non-interest bank offering profit-share deposits, licensed by the CBN.

Received its own CBN banking licence in 2023; products vetted by an Advisory Committee of Experts.

Nigeria's pioneer non-interest fund manager, operating halal investment solutions since 2006.

Headquartered in Accra since 2008; has invested in dozens of African startups through its seed fund.

Its secretariat is hosted by Impact Investing Ghana.

Describes itself as the first local-currency impact investment company in Ghana.

Runs the AgriTech Challenge turning early ideas into viable agribusinesses.

SEC-licensed in Ghana; manages agri-focused funds including the Agri-Business Capital (ABC) Fund.

Ghana national partner for GSG Impact; catalyzed the Ci-Gaba Fund-of-Funds.

Described as the first tech innovation hub of its kind established in Sierra Leone.

FCA-authorized; portfolio includes Chowdeck and ARC Ride.

Portfolio includes Andela, Autochek, Pula and Ilara Health.

Part of the global Antler network; invests $100k for 10% equity.

Runs a Circle of Investors network of 250+ investors for portfolio follow-on.

Kenya office in Nairobi alongside offices in Tanzania and the Netherlands.

Focuses exclusively on healthcare and life-sciences innovation; established in Kenya in 2015.

Runs dedicated Young Women in Creative Industries and Cultural Heritage funds.

Angel arm of ViKtoria Ventures, a longstanding Kenyan early-stage advisory and angel-network operator.

Founded in 2010 as one of Africa's pioneering tech hubs; became part of CcHUB in 2019.

Operates four Nairobi locations and offers members introductions to investors.

Initiated in 2019 by eight founding members with support from the UN Capital Development Fund.

Led by CEO Kenneth Legesi (CFA); runs a dedicated Creatives Fund.

Partners include Mastercard Foundation, World Bank, MTN and Microsoft.

Founded in 2017; its Agenda 2033 targets supporting 100+ companies to reach $200,000 in annual revenue.

Runs thematic accelerators including E-Kilimo (agri-tech) and a ClimAccelerator.

Launched in 2011 by COSTECH with founding partners infoDev (World Bank) and Vodacom Tanzania.

Runs an Investment Readiness Accelerator, Climate Launchpad, PesaTech Accelerator and the Anza Growth Fund.

Takes no equity. Women-owned and women-led ventures get special consideration. Reported to have backed 74 ventures across its earlier calls.

A national COSTECH programme launched 12 March 2026, spanning energy, mining, tourism, agriculture, manufacturing and AI.

Built for small manufacturers and everyday small businesses rather than venture-backed startups.

Piloted Tanzania first makerspace, the Buni mini fabrication laboratory. Shared resources are free to use. Named a delivery partner of Tanzania Ventures Lab.

Does not fund startups itself; it is the map of who does. States it tracks 35+ innovation spaces and counted 1,041 Tanzanian startups in 2024.

Listed on the Stock Exchange of Mauritius since December 2024 as a permanent-capital holding company.

Created by the Norrsken Foundation of Klarna co-founder Niklas Adalberth.

Part of the Westerwelle Foundation's international Startup Haus network; in Kigali since 2018.

Established under a mandate from the African Development Bank and the Government of Rwanda.

Ethiopia's first innovation hub and tech startup incubator, established in 2011.

Connects individual investors, family offices and institutions to early-stage African venture opportunities.

Ethiopia's first local angel investor group, founded in 2020 to address the early-stage funding gap.

One of South Africa's best-known VC firms; runs the long-standing Grindstone accelerator.

Its site states roughly $37M deployed across two funds; member of SAVCA.

SAVCA member; positions around local knowledge plus international reach.

Authorised FSP; formerly a licensed Section 12J venture fund; chaired by Romeo Kumalo.

Founders are exited entrepreneurs (Lingham founded Yola and Civic).

Authorised FSP; portfolio includes Entersekt and Prodigy Finance.

Run by experienced entrepreneurs reinvesting expertise and capital into the next generation of African founders.

Distinctive operator-investor model placing operators inside portfolio companies.

Founded by the CEO Initiative (CEOs of South Africa's largest JSE-listed corporates); anchors many local VC funds.

Running since 2013 with 12+ cohorts; partners include Google for Startups, AWS and Microsoft.

Launched in 2017 as the first multi-corporate-backed pan-African startup accelerator.

Portfolio includes satellite-component maker CubeSpace and semiconductor firm INSiAVA.

Specialist EdTech backer supported by the Mastercard Foundation and UBS Optimus Foundation.

Uses a 'Zebras' philosophy (profitable companies that also improve society); woman-led angel collective.

Founded in 2011; one of the longest-running tech hubs in Southern Africa, with a dedicated AI Lab.

Operates a carrier-neutral data centre anchoring Botswana's tech ecosystem.

Runs a Corporate Innovation Challenge and operates what it describes as Zimbabwe's first Digital Mall for SME e-commerce.

Its Slingshot Fund provides milestone-based grants of up to EUR 5,000 to top-performing startups.

Investment arm of UM6P; operates a Digital Transformation fund and a Deeptech Ventures fund.

Founded by Managing Partner Kenza Lahlou; portfolio includes Wasoko, MaxAB and Kashier.

Operated by CDG Invest; has supported 135+ startups since 2019, including Freterium and Inyad.

Portfolio includes RoboCare (agtech) and EYST (insurtech).

Local arm of the regional Flat6Labs network; launched in Tunisia in 2016.

ANAVA is Tunisia's first euro-denominated fund of funds with a EUR 100M target; anchors the World-Bank-backed Startup Tunisia initiative.

First state-owned accelerator in Algeria (2020); partnered with the Google for Startups MENA network.

Backed by six public banks as shareholders; requires an official Startup Label before investment.

In 2025 closed a financing round backed by Senegal's sovereign fund FONSIS and Investisseurs & Partenaires.

Targets food innovation, renewables and cleantech, financial inclusion and essential services across eight markets.

First fund in francophone Africa investing solely in companies founded, majority-owned or predominantly managed by women.

Created in 2011 as a public-private partnership led by FICTIS.

Over 50% of portfolio companies are women-founded or women-led; a TIME100 Most Influential Companies 2025 honoree.

Backed by local institutions including NSIA Banque and SGBCI within the I&P Developpement 2 fund.

Partech Africa II closed in 2024 above a $300M hard cap, one of the largest Africa-dedicated tech VC funds.

Focuses on growth-stage businesses across Nigeria, Kenya, South Africa and Ghana.

Fund I invested in 133 startups across 22 African countries.

Has raised roughly $2bn across 21 funds and invested in 200+ companies across 35 African countries.