We are thrilled to announce first close of our new investment vehicle, Mentors Fund II.
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With the right mix of demographic tailwinds and improving infrastructure, the startup ecosystem in Africa is coming of age.
Philosophy
We founded the firm in 2019, with the hypothesis that the technology ecosystem in Africa would undergo an economic transformation similar to seen in Southeast Asia. Today that is being validated via venture financing.
Southeast Asia
Year
Funding ($M)
# of Deals
2014
$1,236
213
2015
$1,882
417
2016
$3,511
360
2017
$5,458
395
Africa
Year
Funding ($M)
# of Deals
2019
$1,286
110
2020
$1,719
234
2021
$3,098
818
2022
$4,800
790
Source: Oui Capital Research
Underscoring this transformation are four drivers (“PIPL”)
Population
Infrastructure
Policy
Regulatory frameworks: Improvements in Nigeria, Egypt, Kenya, South Africa, and Ghana; notably in fintech. 10
African Free Trade Agreement: Establishes the world’s largest free trade area, promoting increased intra-Africa trade. 11
Pan-African Payment and Settlement System: Cross-border and financial market infrastructure for the continent. 12
Liquidity
Building a technology company in Africa requires focus, and we reflect that in our investment approach. As a firm, we make a select number of investments driven by both our conviction and our ability to add value.