Lifting Africa Through Venture
We back innovators who are solving Africa’s major challenges
Africa will be at the center of economic growth
Demographic Dividend
Largest working-age population by 2050, more than North America and Europe combined
Rapid Digitization
$115 billion digital economy, more than $700 billion by 2050, massive effort
Urbanization
Fastest urbanization rate globally, 500 million new urban consumers next two decades
Investment Renaissance
At the beginning of a VC boom, 55% increase in 2022 with room to grow – just 1% of global VC
Diaspora
Large, well-educated diaspora bringing back talents, ideas, and capital
Our Approach
Leveraging our unique combination of economic, investing, and technology expertises
We focus on four of Africa’s top ten “consistent growth” economies
Markets with attractive valuations overlooked by VC, GDP growing 5-7%+ per year
We convert economic growth into MOIC
Ethiopia 🇪🇹
- 6.2% Projected GDP growth in 2024
- Rapid digitization: 40 million new digital wallets in 18 months
- Digitized services, national ID
- Financial sector opening
- Median age 19
Tanzania 🇹🇿
- 6.1% Projected GDP growth in 2024
- Digitization + mobile penetration
- “Silicon Dar”
- Economic reforms
- Median age 18
Rwanda 🇷🇼
- 7.0% Projected GDP growth in 2024
- Rwanda Economy Digitization Program
- Agriculture, tourism, trade, services
- Median age 19
Uganda 🇺🇬
- 5.7% Projected GDP growth in 2024
- Digital Uganda Vision
- Agriculture, extractives, manufacturing
- Median age 16
Beyond Unicorns:
Profitability and Impact
Target Sectors
We identify and back pre-seed and seed-stage tech ventures
Fintech
Financial services as payments, savings, lending, and insurance with greater reach and lower cost to increase financial inclusion.
Cleantech
Renewable products that reduce GHG emissions or other pollutants to increase energy efficiency and coverage.
Logistics
Digital platforms that better utilize existing transport capacity to fulfill demand and lower logistics costs added to consumers.
Agtech
Solutions related to land preparation, farming, post-harvest processing, and distribution to improve performance of the agro-food system.
Healthtech
Digital platforms of diagnosis, treatment, and patient management to improve the quality and effectiveness of healthcare services.
Edtech
Remote or online learning tools to increase the reach, lower the cost, and improve the quality of education.
With 80 years of success in asset management, technology, economic policy, ecosystem building, and advisory
- We target markets and growth drivers we deeply understand
- We back high-integrity founders with solid tech and execution
- We provide hands-on advice and support
- We leverage our networks