Oui Capital, a pan-African venture capitalist firm, has announced the first closing of its second fund, which has a target tune of USD30 million. This move is intended to strengthen Oui Capital’s ability to assist African enterprises in growing their operations.
Investors such as D Global, Angur Nagpal’s Vibe Capital, One Way Ventures and Ground Squirrel Ventures participated in Oui Capital’s second fund, known as the Oui Capital Mentors Fund II.
Participants included venture capitalist investors and individual investors such as Seth Levine, Ryan Mclntyre of Foundry Group, Brad Feld, and Tokunboh Ismael of Alitheia Capital. , Tosin Eniolorunda of TeamApt, Gbenga Oyebode, Idris Alubankudi,l and others.
Francesco Andreoli and Olu Oyinsan are responsible for establishing Oui Capital in 2019, coinciding with the announcement of the firm’s USD10 million debut fund.
To this point, the company has made eighteen investments in African businesses: Akiba Digitals, MVX, TeamApt, MVX, Ndovu, pharmacy Marts Duplo, Affluence, intelligent, and Maad. These investments have been concentrated in areas such as logistics& mobility, fintech, healthcare, enterprise software, and e-commerce,
These start-ups have headquarters in Senegal, South Africa, Kenya, Nigeria, and Egypt. However, the firm intends to make further investments in North Africa and French-speaking countries In Africa shortly.
There are presently have over USD 11 million committed to the first close of the USD30 million fund, which is intended for pre-seed and seed stage enterprises. All closing procedures are expected to be finished by the end of the 4th quarter of 2022.
In addition to financial assistance, Oui Capital offers substantial support for the businesses it backs by encouraging the formation of new alliances, boosting sales, streamlining the hiring process, and offering bridge investments. The company claims that it has supplied follow-on capital to twenty per cent of the companies that are part of its portfolio.
The company claims that it has supplied follow-on capital to twenty per cent of the companies that are part of its portfolio. In addition, the company intends to act as a leader in more transactions throughout the ecosystem, going above Angur Nagpal’s Vibe Capital and its set targets and increasing its emphasis on these activities with the new fund.