African originated Investment group Future Africa Fund In 2021 recorded a milestone as its assets under management hit $30 million, representing a major increase from $600,000 it had as of 2017.
In the past year, the investment company raised over $300 million in 2021 from some of the world most renowned investors.
According to the Future Africa review of 2021, ‘We invested over $4.3 million in 43 companies, these deals span across a broad range of industries we believe will shape Africa’s future, from Education to Healthcare to Media, Financial Services – spanning cryptocurrencies, infrastructure insurance and payments, remained our top sector, and made up 55.7% of our investment value’
Future Africa is not just passionate about investing in African based startups, it is also very passionate about investing in female-founded startups, empowering and supporting African women. In 2021 the investment fund invested over US$2 million in female-owned startups. In addition, one third of its network of 152 start up founders all have female co-founders.
About Future Africa Fund
- Future Africa is an early-stage venture fund that connects investors to mission-driven founders. It was founded in 2015 by Iyinoluwa Aboyeji and Nadayar Enegesi, co-founders of U.S.-based and African-focused talent company Andela.
- They intended to build an online community to facilitate conversations about Africa’s future, but they soon realized that more was necessary, and started a process of evolution and then opened the future Africa fund to other investors.
- Future Africa invests through the Future Africa Fund (Currently Fund II) and The Future Africa Collective. According to the Future Africa 2021 review, its first fund, Future Africa Fund I, has invested in 30 companies and has achieved a 14x MOIC, a 115% IRR with a DPI of over 500%. The total value returned across all 234 investment vehicles is around $30 million, with an IRR of 113%.
- The investment company started investing capital in 2017, deploying $600,000. Their investments include Andela, Flutterwave, Moove, Metro Africa Express (MAX.ng), Pay Hippo, Stitch.