Cikü Mugambi has joined DOB Equity, a private equity fund based in the Netherlands that focuses on investments in East Africa, just months after stepping down from her position as CEO of Kobo360, a logistics startup. According to her LinkedIn profile, Mugambi has been with the Dutch family office for a month, serving as an investment director.
In a LinkedIn announcement, DOB Equity expressed its enthusiasm for Mugambi’s appointment, stating, “DOB Equity is delighted to welcome Cikü Mugambi as our new Investment Director. Cikü brings 15 years of investment and operational experience across Africa, with a strong track record of deploying capital into high-impact businesses.”
Mugambi’s move back into the investment sector marks a return to her roots, as she previously held various roles in the industry before her two-year tenure at Kobo360. She initially joined Kobo360 as the Chief Operating Officer (COO) and was later promoted to CEO in August 2023, following the departure of co-founder Obi Ozor.
Her resignation from Kobo360 came after a challenging period characterized by leadership changes and financial difficulties within the company. Kobo360, often referred to as the “Uber of trucks,” had successfully raised approximately $79 million from investors, including Juven, a Goldman Sachs affiliate, the International Finance Corporation (IFC), and TLcom Capital. However, the startup faced significant operational disruptions and financial strain, which ultimately contributed to her decision to step down after just one year in the CEO role.
Under Mugambi’s leadership, Kobo360 provided trucking services to major clients such as Dangote, Unilever, and Flour Mills. Following her departure, the company has returned to the leadership of co-founder Obi Ozor, who has come back to help turn around the business. Reports indicate that Kobo360 is currently grappling with ₦10 billion in bank debt and will require fresh financing to resume operations by the second quarter of 2025. If all goes according to plan, the company hopes to recall laid-off employees by 2026.
At DOB Equity, Mugambi will concentrate on identifying and supporting local founders who are developing scalable solutions to address Africa’s most pressing challenges. Her extensive expertise in investment strategy, execution, portfolio management, and operational leadership is expected to significantly enhance DOB Equity’s mission to back businesses that foster economic growth and create lasting developmental impact across the continent.
