Nigerian venture capital firm, Oui Capital, has announced the successful closing of its second fund, raising $30 million to continue investing in high-growth African startups. This follows the firm’s initial $10 million fund launched in 2019, which has supported a diverse portfolio of companies across the continent.
The new fund, dubbed “Oui Capital Mentors Fund II,” has attracted a strong investor base, including prominent figures such as Gbenga Oyebode, Tokunboh Ismael, and renowned Silicon Valley investors. This diverse investor base reflects the growing confidence in the African tech ecosystem and the increasing appeal of investing in early-stage companies.
Oui Capital plans to leverage this new fund to continue supporting pre-seed and seed-stage companies across Africa, with a focus on expanding its reach into North Africa and Francophone Africa. The firm will typically invest up to $750,000 in each company, with the potential for follow-on investments to support continued growth.
This announcement comes at a crucial time for the African tech ecosystem. While global venture capital activity has slowed down, the African market continues to demonstrate resilience. Oui Capital’s successful fundraise underscores the enduring belief in the long-term potential of African startups and the growing interest from both local and international investors.
