Chui Ventures, a pan-African seed-stage venture capital firm with a strong gender-inclusive mandate, has announced the final close of its inaugural Fund I at $17.3 million, surpassing its original fundraising goal of $10 million.
The fund is dedicated to backing African founders who are building mass-market, technology-enabled solutions across Sub-Saharan Africa. Its investor base includes prominent institutions such as the Mastercard Foundation Africa Growth Fund and the Michael & Susan Dell Foundation, reflecting strong confidence in Chui’s mission and approach.
Since its first close in February 2023, Chui Ventures has deployed 60% of its committed capital over the past 30 months. The fund has already invested in 18 out of its targeted 22 portfolio companies across five Sub-Saharan African countries, with five of these companies successfully raising follow-on rounds.
The portfolio spans high-impact sectors including fintech, healthtech, e-commerce, agritech, and logistics. Notable investments include:
- Pricepally – a Nigerian online grocery platform
- Leta – a Kenya-based supply chain software company
- Uncover – a skincare brand tailored for African consumers
- Flex Finance – a SaaS solution for spending management
Joyce-Ann Wainaina, General Partner at Chui Ventures, commented:
Our vision at Chui is simple but powerful: For Africa, by Africa. We believe African founders are best positioned to solve Africa’s challenges at scale, and Fund I is proof that global and local investors share this conviction. As we look ahead, we will continue to double down on technology-driven ventures that deliver both strong returns and measurable social impact.
