Future Africa
UnclaimedAt a Glance
- Check Size
- $40K – $5M
- Stage
- Pre-Seed, Seed, Series A, Series B+
- AUM
- $30M
- Sectors
- Fintech, Digital Health, Consumer
- Founded
- 2020
- HQ
- Lagos, Nigeria
About Future Africa
Future Africa is a venture capital firm based in Lagos, Nigeria founded in 2020. We are the first investor in bold and visionary leaders building global businesses that solve Africa’s biggest challenges The firm focuses on Pre-Seed, Seed, Series A, Series B+ investments across sectors including Aerospace & Defense, Digital Health, Other, Consumer, Fintech. The firm manages $5.5M in assets under management. Notable portfolio companies include Healthtracka, 54gene, Helium Health and PiggyVest. Invests in mission-driven startups solving Africa's most pressing challenges across multiple sectors.
Investment Thesis
“Invests in mission-driven startups solving Africa's most pressing challenges across multiple sectors.”
Sector Focus
Investment Stage
Notable Portfolio Companies
Fund History
- Future Africa began as a personal investment vehicle for Iyinoluwa Aboyeji and was formalised as a fund with Aboyeji as general partner and Andela co-founder Nadayar Enegesi as a limited partner.
- By January 2020 Fund I had put $1.5 million into 19 African companies; it ultimately backed 30, and the firm reports a 14x multiple on invested capital, a 115 percent internal rate of return and distributions above 500 percent of paid-in capital on that vintage, figures it publishes itself rather than through an independent auditor.
- Fund II deployed $9.7 million across 85 companies, split roughly half into initial checks and half into follow-on reserves.
- Assets under management were reported at about $30 million in February 2022.
- Checks run $100,000 to $500,000 at pre-seed and seed.
- The firm also runs the Future Africa Collective, a syndicate letting qualified investors co-invest deal by deal, a structure built to widen the base of people funding African companies.
- The active portfolio exceeds 65 companies, which have raised more than $1 billion in follow-on capital.
Team (1)
Frequently Asked Questions
What stage does Future Africa invest at?
Future Africa primarily invests at the Pre-Seed, Seed, Series A, Series B+ stages. This means they focus on companies that are at the earliest idea or prototype phase.
Where is Future Africa located?
Future Africa is headquartered in Lagos, Nigeria. Many of their portfolio companies are also based in this region, though they invest across geographies.
What sectors does Future Africa focus on?
Future Africa focuses on investments in Fintech, Digital Health, Consumer. Their portfolio reflects deep expertise and networks within these sectors.
What is Future Africa's typical check size?
Future Africa's typical investment check size ranges from $40K to $5M. Actual amounts may vary based on the stage, sector, and specific opportunity.
How much does Future Africa have under management?
Future Africa manages approximately $30M in assets under management (AUM) across their funds.
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