Africa VC & Private Capital Fund Tracker 2025: Who’s Raising and Deploying Capital?

Africa’s startup and SME ecosystem continues to attract growing investor attention in 2025. There are some new funds targeting everything from early-stage tech to climate and private credit. For founders, this rise in capital represents fresh growth opportunities.

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Below, we will highlight some of the most notable fund launches and closes announced between January and September 2025. The information provided below is based of data we have gathered from publicly available information. 

Acumen — KawiSafi Fund II ($90m, September 2025)

Acumen is the first one we will be looking at. It launched its second KawiSafi fund and managed to raise $90 million (with $40m already committed) in September 2025. This fund will back distributed renewable energy, clean cooking, clean transport, and nature-based carbon solutions. It is Supported by AfDB, the Green Climate Fund, and others. The fund hopes to impact 50 million people and avert 50 million tons of CO2. 

BluePeak Private Capital — Fund II ($80m committed, May 2025)

BluePeak secured $80m in commitments from EDFIs. These include BII, FMO, Swedfund, and SIFEM. This focuses on mid-sized businesses in food processing, healthcare, packaging, and financial services sectors. It has a strong focus on ESG, gender inclusion, and climate resilience.

HAVAÍC — Innovation Fund 3 ($25m, Jul 2025)

HAVAÍC reached a $25m second close in July. This is backed by Sanlam Multi-Manager, Fireball Capital, and SA SME Fund. The pan-African early-stage investor has already deployed capital into fintech (SAPay) and sports analytics (Sportable), building on a track record of exits like RapidDeploy to Motorola Solutions.

Swedfund — AfricInvest Small Cap Fund Commitment (€15m / $16.3m, Mar 2025)

Swedfund committed €15m to AfricInvest’s Small Cap Fund. This fund is meant to support SMEs across Africa. Agribusiness, healthcare, education, consumer goods, and manufacturing are some of the areas it focuses on. The fund will direct 30% of investments to women-led or female-owned businesses, with ESG and climate targets embedded.

Swedfund, BII & Norfund — AgDevCo Investment ($85m, Feb 2025)

Swedfund, BII, and Norfund invested $85m in AgDevCo which is a specialist agriculture investor. The equity injection will expand AgDevCo’s portfolio of SMEs producing nutritious foods and export crops across sub-Saharan Africa. The fund expects to benefit 4m farmers and create 60,000 jobs annually by 2030. It has a strong emphasis on regenerative agriculture.

Foundation Ventures — FVFII Fund ($25m, Feb 2025)

Egypt-based Foundation Ventures closed its second fund at $25m. This fund is supported by EAEF, MSMEDA, and Onsi Sawiris. The fund will target Egyptian and African startups, leveraging Egypt’s cost-efficient talent base as a scaling hub. Portfolio companies will also gain access to Egypt’s largest enterprise network.

StarkWare Africa Blockchain Fund ($4m, Feb 2025)

StarkWare launched a $4m venture fund to back blockchain startups deploying on Starknet. It targets early-stage founders across West, East, and Southern Africa. Selected startups can get grants of up to $150k and even larger checks up to $500k. The fund provides mentorship and technical support to help African Web3 startups scale globally beyond capital. 

Why It Matters

These funds show the scope of Africa’s investment landscape as of September 2025.

• Climate & Sustainability – Acumen KawiSafi II, AgDevCo, AfricInvest Small Cap.
• Private Credit & SME Growth – BluePeak Fund II, AfricInvest Small Cap.
• Early-Stage Tech & Digital – HAVAÍC, StarkWare, Foundation Ventures.

Quick Reference Table

At TechArena, we’ll keep updating this tracker as new funds are announced, helping founders and investors stay on top of Africa’s fast-evolving innovation economy.

Also Read: Ilara Health Restructures Amid Funding Strains – Is this a Sign of a Deeper Funding Drought?