The cheque sizes of 10 active African venture capital firms



1/11 ● Benjamin Dada
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Ingressive Capital

Targets 10% ownership in Pre-Seed to Seed tech-enabled companies based in sub-Saharan Africa or Egypt with typical cheque sizes of up to $400,000.



Ingressive Capital made 4 new investments—Grey, PayDay Africa, Mecho Autotech and Complete Farmer—and 6 follow-on investments in Carry1st, Mono, OnePipe, Bamboo, 54gene and Seamless HR.

Microtraction

An early-stage venture capital firm based in Lagos. The firm recently reviewed its standard deal to a minimum of $100,000 for 7% equity on a post-money SAFE.



Microtraction also gives an option for a quick top-up in their portfolio's next round of up to $350k as long as they are not more than 25% of the round and meet specific milestones.

Ventures Platform

Invested an average cheque size of $50,000 in pre-seed and seed startups.



However, the firm raised a $40 million pan-African fund, following the raise TechCrunch reported that the firm will participate in Series A deals where it will be able to invest more than $1 million in a single company (including follow-on rounds).

4DX Ventures

The firm writes cheques of about “a few $100,000 to a few million” across all stages (pre-seed to Series B)



Usually for startups in Africa's Big Four markets—Nigeria, South Africa, Egypt and Kenya.

However, the firm is now investing in other countries, especially in the Francophone region; including a recent investment in Côte d’Ivoire's Cinetpay. 4DX Ventures completed the final close of its second fund at $60 million last December.

Lateral Frontiers VC

The firm focuses on Seed to Series A fund and often writes cheques between $250,000 to $5 million.



Lateral Frontiers VC is a mission-driven venture fund investing in and advising early-stage opportunities in Sub-Saharan Africa.

Ajim Capital

Financing from Pre-seed to Seed with typical cheque sizes of $100,000 to $250,000.



Ajim Capital is an early-stage fund and angel community that provides startups in Africa

Ajim has invested in several African startups including Mono, Bamboo, Talent QL, and Lemonade Finance. In January, Ajim Capital launched a $10 million fund to invest in African tech startups.

FirstCheck Africa

Provides female-led startups with cheque sizes between $15,000 to $25,000



FirstCheck Africa, is a female-focused African venture capital firm that is "fixing capital access for female tech entrepreneurs in Africa needs an intentional, female-led approach."

Voltron Capital

Its cheque sizes range from $20,000 to $100,000, focusing on startups in Nigeria, Kenya, South Africa and North Africa.



So far, the firm has invested in Spleet, Trove, Brass, Piggyvest, Mono and other notable African startups.

DFS Labs

Usually invests in pre-seed rounds with a $25,000 cheque into a post-money YC SAFE with a standard valuation cap.



After the pre-seed round, DFS Labs works with its portfolio companies for four to six months on a growth plan that leads to the company's next round of financing.

Kepple Africa Ventures

Typically, Kepple provides a cheque size between $50,000 and $150,000.



Kepple Africa Ventures is bridging the gap between seed and Series Avin Africa because investors are usually fragmented.

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