The Top 10 Investment Firms in Africa

Investment firms are institutions that deploy capital on behalf of themselves or their clients to generate profit. Investment firms have various specialisations, including hedge funds, asset management companies, mutual funds, and private equity funds.

Venture capital firms (VCs) are a subset of private equity funds that specialise in investing in startups. These firms target companies that have long-term potential and the ability to scale within a specified timeframe. They invest in them by buying a percentage of their shares. When these startups eventually become profitable, they take their gain.

Why are Investment Firms Beneficial?

Investment firms play a vital role in Africa’s economic development. They provide businesses with the kind of risk capital that traditional banks often cannot offer, enabling companies to expand into new markets, develop innovative products, or scale their operations.

Additionally, venture capital firms offer guidance and mentorship to young companies across various sectors. Some private equity firms pool resources from international investors, thereby catalysing the growth of their investments with the infusion of foreign capital.

These collective efforts of investment firms are visible in job creation and large-scale employment. Their activities strengthen the private sector, stimulate economic growth and empower startups to scale rapidly.

The Top 10 Investment Firms Boosting Africa’s Growth

This is a curated list of influential investment firms (both private equity and venture capital) that are actively shaping Africa’s startup ecosystem.

1. Helios Investment Partners

Helios Investment Partners is a private equity firm. Its offices are based in Nigeria, Kenya, France and the United Kingdom. Founded in 2004 by Tope Lawani and Babatune Soyoye, it is a leading Africa-focused investment firm with a robust portfolio of $3 billion. Helios specialises in investments across financial services, technology, digital infrastructure, and tech-enabled business services.

Helios Investment Partners has invested in small, mid-sized and large corporations. Notable ones include InterSwitch, First City Monument Bank, Equity Bank, Wananchi Group, ZOLA Energy and GBfoods Africa.

2. Development Partners International (DPI)

Development Partners International (DPI) is a Pan-African private equity firm. It was founded by Miles Morland and Runa Alam in 2007. DPI focuses on Africa’s middle class and its investments span financial services, higher education, logistics, pharmaceuticals and telecommunications. Notable companies DPI has invested in are Moniepoint, MNT-Halan, Dolidol, Biopharm, Ukheshe and Solevo.

3. Partech Africa

Partech Africa is a private equity fund established in 2017. With an impressive fund size of $142 million, Partech provides risk capital to African tech-oriented startups. These startups are based in these industries: financial services and online consumer services. With a budget of € 100 million, Partech Africa’s venture capital fund has supported small and mid-sized businesses in sub-Saharan Africa.

4. TLcom Capital

TLcom Capital is an African-focused venture capital firm. It was established in 1999 by Maurizio Ciao to back tech entrepreneurs whose businesses aim to solve Africa’s biggest challenges. TLcom has invested over $300 million and has made current investments from the Tide Africa Fund. With this, TLcom invests between $500,000 and $10 million in early-stage and growth-stage startups based in sub-Saharan Africa.

5. Voltron Capital

Voltron Capital is a Pan-African venture capital firm founded in 2021. It is headquartered in Lagos. It backs early-stage startups in healthcare, financial services, logistics and SaaS. These are primarily based in Nigeria, Kenya, South Africa, and North Africa. Some startups that Voltron Capital has backed include Remedial Health, Mecho Autotech, Earnipay, and Norebase.

6. Norrsken22

Norrsken22 is a Pan-African venture capital growth fund. It was founded in 2022 as an independent arm of the Norrksen Foundation. It supports Series A and B tech-based startups solving challenges across Africa. Norrksen22’s portfolio features a diverse range of startups, including Raenest, Autochek, Smile Identity, TymeBank, and Sabi.

7. Launch Africa Ventures

Launch Africa Ventures is a Pan-African venture capital firm founded by Zachariah George and Janae du Plessis in 2020. It supports startups with seed and Series A funding, with over $31 million invested into 133 startups across 22 African countries. Some of these startups are Kuda, Kredi, Bitmama and Mano.

8. African Capital Alliance

African Capital Alliance is an African-focused private equity firm. They manage four private equity funds across seven sectors on the continent, with offices in Ghana, Mauritius and Nigeria. Their diversified investee portfolio supports mid-sized to large corporations across Africa, including MTN, Union Bank, Aradel Holdings, FilmHouse, ABC Transport, and Cornerstone.

9. Future Africa

Future Africa is a venture capital firm co-founded by Iyinoluwa Aboyeji, Olabinjo Adeniran and Adenike Sheriff in 2019. It provides pre-seed and seed funding for tech-driven startups across various industries, including media and entertainment, commerce, logistics, financial services, healthcare, and communications. It has invested $4 million in ventures across more than 45 countries in Africa. Their portfolio includes companies such as EmPawa, Edenlife, Norebase, and Big Cabal Media.

10. EchoVC Partners

EchoVC Partners is an early-stage VC firm that supports diverse teams in these sectors: commerce, media & entertainment, energy, sustainable mobility, fintech, health and human services. It has invested $41 million in over 36 companies, some of which include Hotels.ng, Gro Intelligence, LifeBank, Printivo and QuickBus.

The steady rise of investment activity in Africa’s startup ecosystem signals strong investor confidence in the continent. With firms like these as forerunners, Africa is poised for economic transformation.

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