Are you looking for venture capitalists in Kenya? Here is a list of venture capital firms in Kenya.
Top venture capitalists in Kenya
- Novastar Ventures Ltd
- Fanisi Capital Ltd
- Safaricom’s Spark Fund
- ViKtoria Ventures
- Savannah Fund
- Afvest Invest
Let’s dive into details.
Many companies in Kenya are at the start-up phase and are currently showing very high growth potential.
Let’s start by explaining who these Venture capitalists are. They are institutions that provide financial as well as logistical capital to early-stage, high-potential, high risk but high growth start-up companies.
They earn their money by possessing equity in a particular company or companies they invest in.
Venture Capitalists in Kenya
1. Novastar Ventures Ltd
Novastar Ventures Ltd is a private equity and venture capital firm specialising in start-up and early-stage investments. It invests in BoP markets.
The firm primarily invests in education, healthcare, agri-businesses, food, and water sectors.
It typically invests in companies based in East & West Africa, Asia, Europe and the United States.
The firm invests between $0.25 million & $8 million in companies. Novastar Ventures Ltd is based in Nairobi, Kenya with an additional office in Lagos, Nigeria.
2. Fanisi Capital Ltd
Fanisi Capital Ltd is a venture capital and private equity arm of Amani Capital, They specialise in startups, early-stage businesses, buyouts, expansion capital, and growth capital investments.
The firm is not currently active in start-up investing.
The firm prefers to invest in small and medium enterprises in all sectors including ICT; technology; agri-business; retail and consumer; financial services; real estate; energy and natural resources; light manufacturing; media; transportation; logistics; education; distribution; healthcare; and tourism.
Within agribusiness, the firm focuses on agro-processing.
Within energy and natural resources, it focuses on services that facilitate the extractive industries.
It seeks to invest in East Africa with a focus on Kenya, Rwanda, Uganda, and Tanzania.
The firm invests between $0.5 million and $3 million in companies with a turnover of $1 million and $8 million.
It expects to invest $50 million in high growth businesses.
It prefers to take a minority or majority stake in the form of straight equity, usually preferences shares or quasi-equity and convertible debt.
3. Safaricom’s Spark Fund
The Fund is a venture capital fund that aims to support the successful development and growth of high potential mobile tech start-ups in Kenya.
It supports them through a combination of investment, business development support and technical assistance leveraging on Safaricom’s unique capabilities, assets and market positioning.
The total fund size will be USD 1 Million (~KSH 90 Million) that will be provided for a minority equity stake or as convertible debt to selected start-ups with an average ticket ranging between KES 6 Million – KES 22 Million.
The start-ups will be identified, selected and provided with post-investment support by the fund manager TBL Invest, a partner of Safaricom and upon completion of due diligence process be presented to the Investment Committee for funding consideration.
The Investment Committee consists of representatives of Safaricom Limited and TBL Invest.
4. ViKtoria Ventures
ViKtoria Ventures actively supports the growth of entrepreneurial ecosystems in various sectors in East Africa. Their engagements include:
- Advising investors and providing portfolio management support
- Developing linkages to thriving start-up ecosystems in other countries
- Undertaking research and facilitating strategic planning for development organisations seeking to catalyse growth in entrepreneurship.
- Developing, resourcing and management of incubation and acceleration programs
- The firm assists start-ups raise both grant funding from donors and convertible debt finance from angel investors.
5. Savannah Fund
Savannah Fund is a Kenyan seed capital fund specialising in $25 000 to $ 500 000 investments in early-stage high growth technology (web and mobile) start-ups in sub-Saharan Africa.
The Fund also expects to achieve this objective by combining capital with mentor networks both in the region and from Silicon Valley via an accelerator program and a follow-on independent seed fund.
The fund is managed by an experienced and technology savvy team that has founded companies or are actively involved in angel investing.
Savannah Fund believes in the potential for Africa to become a global technology innovator by creating sustainable for-profit companies that create jobs and make an impact.
An example of a company under its portfolio is Zatiti, a Kenyan based e-commerce platform for small merchants.
6. Afvest Invest
Afvest Limited is a private company limited by shares formed under the 2008 Kenya Companies Act (Chapter 486 of the Laws of Kenya) (“Cap 486”).
At the heart of the company’s goals is the maximisation of shareholder wealth.
The company’s Net Asset Value (NAV) currently stands at over KES. 200 million.
The firm presents to you several investment ideas that are well-researched, they then plan on how to invest for you with a long-term view and with no plans to exit.
Afvest invests in companies with solid management and with a clear growth plan, they not only focus on the financial aspect of our investees but operational perspective too.