Verod-Kepple Africa Ventures (VKAV) has reached a significant milestone by closing its first fund at $60 million, paving the way to back up to 21 growth-stage companies across the continent. The latest funding round includes support from Nigeria’s SCM Capital, formerly Sterling Capital Markets Limited, along with other notable investors such as Taiyo Holdings and C2C Global Education Japan.
Amidst a challenging investment landscape, VKAV aims to provide essential capital to series A and B startups, addressing a critical gap in local funding pools for growth-stage companies. Partner Ory Okolloh emphasizes the importance of supporting companies at these stages to achieve sustainable growth, scale, and profitability.
Founded in 2022 as a joint venture between Verod Capital and Kepple Africa, VKAV focuses on investing in startups that are building infrastructure for the digital economy, addressing business inefficiencies, and tapping into emerging consumer trends. With investments ranging from $1 million to $3 million, VKAV has already deployed $17.5 million across 12 companies in various sectors spanning Nigeria, Egypt, Kenya, Morocco, Ivory Coast, and South Africa.
The fund’s investment strategy includes supporting startups in sectors such as fintech, mobility, e-commerce, proptech, deeptech, insurtech, energy, and healthcare. Notable investments include Moove Africa, KOKO Networks, Shuttlers, Cloudline, Chari, and mTek-Services, among others.
VKAV remains sector-agnostic but is increasingly interested in Vertical ERP startups, those offering embedded financial services, and players in the future of work space. The fund also aims to explore opportunities in underserved markets such as Angola, Zambia, DRC, and Tunisia, aligning with its pan-African approach to investment.
The collaboration between Verod Capital and Kepple Africa enables VKAV to provide hands-on support to portfolio companies, offering operational best practices, governance improvements, and guidance through Africa’s complex economic landscape. The fund’s partnership with Japanese institutional investors further strengthens its position and underscores the growing interest in African tech startups from global investors.
As VKAV continues its journey, Ory Okolloh emphasizes the importance of diversity in the portfolio, including gender, founders, sectors, and markets. With backing from Japanese investors and a commitment to fostering economic transformation across Africa, VKAV is poised to play a significant role in supporting exceptional founders and driving sustainable growth in the African tech ecosystem.
