Despite a more cautious global venture capital environment, the African startup ecosystem is proving it still has momentum and value. Over the last 12 months, a number of new VC firms and funds have raised fresh capital specifically to back African founders. From fintech to climate tech and digital health, these funds are doubling down on the continent’s potential.
If you’re building a startup in Africa, here’s a look at the investors who have raised new funds and are actively looking for startups to back in 2025.
P1 Ventures
In February 2025, P1 Ventures, pan-African early-stage VC firm, announced the final close of its first institutional fund at $50 million, backed by African conglomerates, family offices, and global venture leaders including the World Bank’s IFC.
With over $60 million in assets under management, P1 Ventures is doubling down on its mission to back “Made in Africa” startups with global potential. The fund has made bold moves, including co-investing alongside Accel in Morocco-based Nuitee’s $48 million Series A, making it the largest deal in the firm’s history.
Foundation Ventures
In early 2025, Egypt-based Foundation Ventures announced the close of its $25 million “FVFII” fund. Its mandate is to invest in companies across Africa. It is backed by institutional investors such as the Egyptian-American Enterprise Fund (EAEF), MSMEDA, and Onsi Sawiris.
With this fund, Foundation Ventures aims to cultivate a new generation of durable startups ready to scale across Africa and beyond. Foundation Ventures complements its capital with unmatched access to Egypt’s enterprise networks. Through this, it can help founders shape sustainable businesses with strong operational foundations.
StarkWare
StarkWare, the $8 billion blockchain company behind Ethereum’s leading Layer-2 solution Starknet, launched a $4 million venture fund to support African blockchain projects. It is led by Moroccan investor Kheireddine Kamal and targets targets early-stage teams from pre-seed to seed. It works with thise looking to build on Starknet.
The funds grants of up to $150,000 are available for nascent teams, with more advanced ventures eligible for investments up to $500,000 or more. StarkWare’s initiative is prioritizing countries where blockchain adoption is driven by real economic need, from high inflation and currency volatility to low financial inclusion. The fund combines capital, mentorship, and technical support, targeting startups across West, East, and Southern Africa, and envisions a scalable future powered by Starknet on Ethereum and, soon, Bitcoin.
OpenseedVC Focusing on Domain Experts
One of the more exciting announcements this year came from OpenseedVC, a firm that quietly launched in 2024 with a $10 million fund targeting early-stage startups across Africa and Europe. What stands out about OpenseedVC is its thesis: backing operators and domain experts, people with deep knowledge of their industry, rather than just generalist founders.
The fund writes initial cheques of up to $150,000, focusing on startups in B2B software, AI, fintech, digital health, and the future of work. It’s led by Maria Rotilu, a former head of Oxford Seed Fund, and the firm has already made a handful of pre-seed bets on African startups in Nigeria, Kenya, and Ghana.
TLcom Capital
In 2024, TLcom Capital closed its second fund, TIDE Africa Fund II, at $154 million, one of the largest Africa-focused VC funds to date. The firm is now focused on seed and Series A rounds, backing startups with strong fundamentals in fintech, edtech, healthtech, and agtech.
With offices in Lagos, Nairobi, and London, TLcom brings not just capital, but a serious global network. The fund aims to back 20–25 companies in this cycle and continues to actively support women-led ventures, especially through its partnership with FirstCheck Africa.
54 Collective
54 Collective made headlines in 2024 as Africa’s most active pre-seed investor for deals over $100,000. This is no small feat in a year when funding dropped across most markets. The firm operates a venture studio model and has been quietly building a strong portfolio in fintech, logistics, and health tech.
They’ve also doubled down on supporting women founders, with dedicated capital through their partnership with Utopia’s Africa Fund. For early-stage African founders who need more than just a cheque, think strategic guidance and operational support, 54 Collective is worth talking to.
Breega
In June 2024, Paris-headquartered Breegalaunched a $75 million “Breega Africa Seed I” fund. This is designed to support startups across the continent from idea to impact. With a strong track record in Europe and $700 million in AUM, Breega is replicating its hands-on, founder-first model through new offices in Lagos and Cape Town, targeting regions with vibrant startup ecosystems like Nigeria, Kenya, Egypt, South Africa, and Francophone Africa.
The fund has already backed startups like Numida, Socium, Klasha, Kwara, Coachbit, and Sava, the latter praising Breega’s Scaling Team for deeply strategic and operational support. The African leadership team includes Melvyn Lubega, co-founder of edtech unicorn Go1, and Tosin Faniro-Dada, former CEO of Endeavor Nigeria. With investment cheques ranging from $100k to $2M, Breega is targeting Africa’s early-stagefstartups in sectors like healthtech, agrotech, fintech, and logistics. It is backed by institutional players like Bpifrance and FMO.
Janngo Capital
In October 2024, Janngo Capital announced the final close of its second fund at $78 million. This fund is led by Fatoumata Bâ and is one of the few female-founded, owned, and led VC firms in Africa. It backs startups in all key sectors from healthcare to fintech. It also has strong focus on gender equality with 56% of its portfolio companies being women-led or women-benefiting.
With over 30 investments in 14 countries, Janngo has already seen major wins, including the successful exit of Expensya and the explosive growth of Sabi, a woman-led Nigerian soonicorn. Janngo Capital invests up to €5 million per startup, from seed to growth stage.
Climate Tech and Impact Funds
Helios CLEAR Fund
In response to Africa’s growing climate challenges, Helios Investment Partners launched the CLEAR fund, with an initial close of $200 million and a target of $400 million. It’s focused on low-carbon energy, sustainable agriculture, clean mobility, waste management, and digital climate solutions.
Backers include the UK’s BII (formerly CDC), the European Investment Bank, and Dutch FMO. CLEAR is actively scouting for companies that can drive scalable climate impact across the continent.
Catalyst Fund
Nairobi-headquartered Catalyst Fund has positioned itself as one of the top backers of climate tech startups in Africa. Its new $40 million fund, announced in late 2024, invests between $200,000 and $1.5 million in early-stage startups working on resilience-focused solutions, from sustainable agriculture and cold-chain logistics to insurtech and water management.
They’ve already backed startups in Kenya, Senegal, Nigeria, and Rwanda and they’re actively looking for more.
Beyond Capital Ventures
US-based Beyond Capital Ventures launched a $30 million fund with a strong tilt toward climate adaptation, an often-overlooked but essential piece of Africa’s climate response. Their cheque sizes range from $100,000 to $1 million, with a focus on startups in healthcare, financial inclusion, and sustainable agriculture.
Strategic Investments
Nubank’s $150M Bet on Tyme Group
In one of the largest recent strategic investments, Brazil’s Nubank invested $150 million in Tyme Group, a South Africa-based digital bank. This deal valued Tyme at $1.5 billion and gave Nubank a strong foothold in Asia and Africa.
Moniepoint Hits Unicorn Status
Despite overall VC funding in Africa dipping by 25% in 2024, Nigerian fintech Moniepoint managed to raise $110 million, pushing its valuation past the $1 billion mark. Google was one of the lead investors in the round, signaling continued confidence in Africa’s fintech infrastructure layer.
Positive Outlook
In a time when funding headlines are often dominated by layoffs, dry powder, and reduced deal flow, Africa is telling a different story. Yes, things have slowed down. But investors are still bullish on the continent.
From climate to commerce, AI to agtech, investors are increasingly prioritizing high-impact, capital-efficient startups. And most importantly, they’re looking for founders who understand their markets.
If you’re a founder building something bold, now’s a good time to raise. If you have a startup you want featured on TechArena, let us know through this contact form here.
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