Top 15 VC Funds to Watch in 2021

As venture capital deal making heats up in Africa, LPs are presented with a diversity of funds that are looking to tap early-stage deals in Africa. Venture Capital Africa looks at some of the key vehicles to look out for in 2021.

4DI CAPITAL is on the fundraising trail with its country-focused specialist vehicle. The fund targets technology companies operating in the financial, insurance, healthcare, education and agriculture sectors, across South Africa. 4Di touched first close on the fund in 2019.

AFRICINVEST and CATHAY INNOVATION are in the market with their Africa-focused early-stage vehicle. The GPs are joint managers on the vehicle, sharing the fundraising and fund management mandates. AfricInvest is also in the market with another venture capital vehicle.

AZUR INNOVATION MANAGEMENT is raising a country-focused early-stage vehicle. The fund has a generalist strategy, with a leaning towards the agriculture, financial services, technology, healthcare and renewable energy sectors.

BAMBOO CAPITAL PARTNERS is in the market with its specialist vehicle, targeting deals in the technology space, across Africa.  The GP set up the vehicle in partnership with Smart Africa, a Rwanda-based not-for-profit organisation.

CHANZO CAPITAL is on the road with its specialist early-stage vehicle, which is looking to back technology companies across Africa. Chanzo has a leaning towards Kenya, Côte d’Ivoire, Nigeria, Ghana and South Africa.

ECHOVC PARTNERS is on the fundraising trail with its sophomore early-stage specialist vehicle. The fund will look to back pre-seed, seed, and early-stage rounds, targeting technology companies, across Africa.

ENGINEERS WITHOUT BORDERS CANADA has been raising its specialist early-stage vehicle, which is looking to back technology companies across Africa. The vehicle will focus on pre-seed, seed and series-A investment rounds.

ENTREPRENEURS FOR ENTREPRENEURS AFRICA is working towards the final close of its maiden country-focused early-stage vehicle. The GP touched first close on the fund in 2020, with final close expected by the end of 2021.

GEMINI CAPITAL PARTNERS is on the fundraising trail with its West Africa-focused venture capital fund. The fund has a leaning towards the agriculture, financial services, technology, healthcare, manufacturing and renewable energy sectors.

HAVAÍC is on the road with its Africa-focused specialist vehicle, targeting early-stage technology deals, across Africa. The GP touched second close on the fund earlier in 2021. HAVAÍC set up the fund in partnership with Universum Wealth, a UK-based investment management firm.

JANNGO CAPITAL has been on the fundraising trail with its maiden vehicle targeting early-stage technology deals across Sub-Saharan Africa (SSA). The fund will primarily back companies operating in the financial services space, across West Africa.

KNIFE CAPITAL is on the road with its latest Africa-focused early-stage vehicle. The fund is structured as two sub-vehicles – a US dollar-denominated vehicle and a South African rand-denominated fund. Knife capital also has two other country-focused vehicles on the road.

LATERAL CAPITAL is approaching the final close of its Sub-Saharan Africa (SSA)-focused early-stage vehicle. The fund targets technology companies operating in the financial services, education and healthcare sectors. Lateral touched first close on the fund in 2020.

SAVANNAH FUND is on the fundraising trail with its sophomore SSA-focused early-stage vehicle. The fund will back technology companies operating in the agriculture, logistics, healthcare, financial services, education and ecommerce spaces.

UTIQ VENTURES has been raising its regional-focused vehicle. The fund will back technology deals, with a focus on big data, artificial intelligence and machine learning, acquiring minority stakes. UtiQ will deploy the capital primarily across Tunisia, with opportunistic investing in Algeria and Morocco.

For a full list of venture capital funds currently raising or investing in Africa, please email editorial@peafricagroup.com