The cheque sizes of 10 active African venture capital firms
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.
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.
Ventures Platform
Invested an average cheque size of $50,000 in pre-seed and seed startups.
4DX Ventures
The firm writes cheques of about “a few $100,000 to a few million” across all stages (pre-seed to Series B)
Lateral Frontiers VC
The firm focuses on Seed to Series A fund and often writes cheques between $250,000 to $5 million.
Ajim Capital
Financing from Pre-seed to Seed with typical cheque sizes of $100,000 to $250,000.
FirstCheck Africa
Provides female-led startups with cheque sizes between $15,000 to $25,000
Voltron Capital
Its cheque sizes range from $20,000 to $100,000, focusing on startups in Nigeria, Kenya, South Africa and North Africa.
DFS Labs
Usually invests in pre-seed rounds with a $25,000 cheque into a post-money YC SAFE with a standard valuation cap.
Kepple Africa Ventures
Typically, Kepple provides a cheque size between $50,000 and $150,000.
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 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.
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).
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 is a mission-driven venture fund investing in and advising early-stage opportunities in Sub-Saharan Africa.
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, 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."
So far, the firm has invested in Spleet, Trove, Brass, Piggyvest, Mono and other notable African startups.
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 is bridging the gap between seed and Series Avin Africa because investors are usually fragmented.