Future Africa announced that it has invested a total of $3 million in 13 startups in the first five months of 2021. This brings total investments since inception to 47.
As at the end of 2020, the company had made 33 investments totalling $2.1 million. The earliest limited partners that invested Future Africa’s first fund when the company raised $1.2 million in capital in 2018, got a return of $3.7 million in 2020.
Launched in 2020, Future Africa is a platform connecting mission-driven innovators and investors looking to turn Africa’s most difficult challenges into global business opportunities. It operates a subscription-based syndicate composed of Africa-focused angel investors (“Future Africa Collective”) and an institutional venture capital fund (“Future Africa Fund”)
In alignment with CEO Iyinoluwa Aboyeji’s letter in January 2021, the company outlined its milestones so far:
- Backing of 13 startups with $3million in capital, bringing its total number of investments as a fund to 47. This figure is 2X what the company deployed in 2020.
- More pan-African investments including startups in Nigeria, Ghana, Kenya, Tanzania and South Africa.
- Over $1million commitment to women-led startups and they are currently evaluating more women-led startups in our pipeline to increase this number.
Some of the investments recently made include the Termii’s $1.4M seed round with Kepple Africa Ventures, Lami’s $1.8m seed round, Stitch’s $4m seed round, and Ongair.
Investors can join the Future Africa Collective for an annual subscription of just $1000 and are allowed to invest a minimum of $5,000 in up to 20 African startups yearly
