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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»News»In 2021, Future Africa invested $4.3m in 43 companies; AuM hits $30m
    Iyinoluwa Aboyeji Future Africa

    In 2021, Future Africa invested $4.3m in 43 companies; AuM hits $30m

    1
    By Staff Writer on January 18, 2022 News

    Future Africa announced that its Assets under Management grew from $600,000 in 2017 to over $30 million in 2021. This is one of the exciting figures released in the 2022 Message from the Founder and General Partner of Future Africa, Iyinoluwa Aboyeji.

    Set up by serial entrepreneur, Iyinoluwa Aboyeji in 2020, Future Africa is a fund that connects investors to mission-driven startups turning Africa’s most difficult challenges into global business opportunities. Its mission is to build a future where purpose and prosperity are within everyone’s reach.

    2021 was an awesome year for the company which was setup as a platform to mission-driven innovators and investors looking to turn Africa’s most difficult challenges into global business opportunities.

    Here are some of the highlights of 2021 performance:

    • Future Africa invested $4.3 million into 43 companies across a broad range of industries from Education to Healthcare to Media and more. Financial Services remained its top sector and made up 55.7% of its investment value. Its 2021 investments bring its portfolio size to 75.
    • The companies invested in now collectively employ over 2,400 people as of the end of 2021.
    • Portfolio companies raised over $290 million in follow-on funding in 2021 and have all cumulatively raised over $630 million in lifetime aggregate funding and are valued at slightly over $3.5 billion – including Andela, valued at $1.5 billion.
    • With new investments in Ghana, South Africa, Tanzania and Zambia, Future Africa is now present in 6 African countries, including Nigeria and Kenya.
    • Though $1 million of capital was earmarked for female innovators, Future Africa ended up investing over $2 million in companies with female founders.
    • The community of angel investors – the Future Africa Collective – grew from 160 to 257 members as of the close of 2021, investing over $2 million compared to $780,000 in 2020

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    1. Pingback: Future Africa and CatalyzU unveil new entrepreneurial fellowship program "How to Startup" for African innovators - Innovation Village | Technology, Product Reviews, Business

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