Venture capital (VC) firm Oui Capital has launched a US$10 million fund for investments in innovative tech startups from Kenya, Nigeria and South Africa.
Oui Capital has been launched by, among others, Oluwaseun Oyinsan, previously in charge of investments at Ingressive Capital, an early-stage venture fund that has made investments in the likes of Paystack, Wifi.com.ng and OgaVenue.
The new US$10 million venture fund is dedicated to backing high-growth tech startups in Africa, while simultaneously offering mentorship services from technology and industry experts. It will invest in companies in spaces such as fintech, mobility, healthcare and education.
“With Oui Capital, we will make funding available for early-stage technology startups on the continent. Africa is undergoing a transformation largely driven by technology – similar to the Asian boom of a decade ago which has created over 200 unicorns to date. It is pertinent that ventures like Oui Capital are available to finance this transformation to create wealth and impact,” said Oyinsan.
“We are mostly interested in companies which are solving real problems with scalable solutions, technology companies solving the everyday problems of Africa’s 1.2 billion people. Our very early-stage investments support startups with significant growth and impact potential.”