Hayo Afman

Portfolio Director

Toine Huijbers

CFO

Ralph Jansen

Investment Manager

Saskia van der Mast

Investment Manager

36 past transactions

Kwara

Seed Round in 2023
Kwara GmbH is a company that operates a digital banking platform tailored for savings and credit co-operative societies (SACCOs). Founded in 2018 and headquartered in Berlin, Germany, with an office in Nairobi, Kenya, Kwara provides a cloud-based solution that facilitates loan applications and approvals for members. The platform also includes integration services, customer support, real-time financial tracking, and compliance assistance. Additionally, Kwara offers a product called Kwara Pronto, designed for effective loans management. The company's mission focuses on enhancing the financial cooperative movement, which significantly benefits the lives of numerous individuals.

Kentaste

Venture Round in 2022
Kentaste Products Limited processes, produces, packages, and distributes coconut based products. The company offers coconut milk, creams, and oil for customers who use it in sauces, drinks, curries, and desserts. Its products are available in supermarkets in Kenya. The company was founded in 2011 and is based in Nairobi, Kenya.

Zuri Health

Pre Seed Round in 2022
Zuri Health is a virtual hospital that gives patients across Sub-saharan Africa the opportunity to chat with a doctor, buy medication from a pharmacy, book labs and diagnostic tests and have a doctor visit them at home. Our aim is to provide affordable and accessible healthcare solutions via mobile with dedicated apps, WAP and SMS services.

Laboremus Uganda

Venture Round in 2022
Laboremus Uganda delivers digital onboarding and KYC solutions for banks and fintechs in Africa.

Mr. Green Africa

Series B in 2022
Mr. Green Africa Ltd is a Nairobi-based plastic recycling company founded in 2014 that addresses waste management challenges by transforming waste into valuable materials. The company produces a range of recycled plastic products, including rHDPE and rPP pellets in various colors, as well as rPET in clear, blue, and green. By utilizing the existing informal waste management sector, Mr. Green Africa aims to shift perceptions of waste to recognize its value, while also creating economic opportunities and addressing social and environmental issues. The company emphasizes the traceable social and environmental impact of its pre-processed recycling materials, contributing to a more sustainable approach to waste management.

Zembo

Seed Round in 2021
Zembo is a company focused on providing affordable electric motorcycles specifically designed for motorcycle taxi drivers in Africa, particularly in Uganda's boda-boda market. The business model includes a battery swapping system that allows drivers to exchange discharged batteries for fully charged ones at designated swap stations. This innovative approach not only ensures that customers have access to reliable transportation but also promotes environmental sustainability by offering an eco-friendly alternative with no carbon emissions or noise.

Twiga Foods

Series C in 2021
Twiga Foods Ltd. operates a mobile-based business-to-business supply platform, serving retail outlets, kiosks, and market stalls across Africa. Founded in 2013 and headquartered in Nairobi, Kenya, the company facilitates the ordering of various supplies, including bananas, pineapples, and tomatoes, through its innovative platform. Twiga Foods aims to streamline the supply chain and enhance access to essential goods for millions of small and medium-sized vendors in urban markets throughout the continent.

Ilara Health

Series A in 2020
Ilara Health brings accurate and affordable diagnostics to rural Africans through miniature, AI-powered diagnostic devices that are integrated via a proprietary technology platform and distributed directly to primary care doctors.

Mr. Green Africa

Venture Round in 2020
Mr. Green Africa Ltd is a Nairobi-based plastic recycling company founded in 2014 that addresses waste management challenges by transforming waste into valuable materials. The company produces a range of recycled plastic products, including rHDPE and rPP pellets in various colors, as well as rPET in clear, blue, and green. By utilizing the existing informal waste management sector, Mr. Green Africa aims to shift perceptions of waste to recognize its value, while also creating economic opportunities and addressing social and environmental issues. The company emphasizes the traceable social and environmental impact of its pre-processed recycling materials, contributing to a more sustainable approach to waste management.

Tanga Fresh Ltd.

Private Equity Round in 2020
Tanga Fresh Ltd. is a milk processing company that also produces cheese and yoghurt. The company is based in Tanga, Tanzania.

Natural Extracts Industries

Private Equity Round in 2019
Natural Extracts Industries Ltd manufactures vanilla and chocolate flavors ingredients. The company offers vanilla products, gourmet vanilla pods, and cocoa powder products, including Kilimanjaro Vanilla, Mbeya Cacao, Tanga Orange, Kibosho Coffee, and Kilombero Cinnamon under the brand EPICURIOUS HEDGEHOG. It also provides training services to farmers for vanilla crops. The company serves bakeries, dairy processors, cafes, and restaurants in East Africa, Europe, and North America. The company was founded in 2011 and is based in Moshi, Tanzania.

Powergen Renewable Energy

Series B in 2019
Powergen Renewable Energy specializes in delivering energy solutions to various sectors, including residential, community, commercial, government, and industrial customers in East Africa. Established in 2011 and headquartered in Nairobi, Kenya, the company operates additional offices in Arusha, Tanzania; Freetown, Sierra Leone; and Lagos, Nigeria. Powergen focuses on providing comprehensive renewable energy systems, including microgrids, photovoltaic solar systems, and wind energy solutions to address off-grid energy demands. Their services encompass consulting, development, engineering, procurement, construction, operation, maintenance, and financing, ensuring a one-stop solution for clients seeking to harness renewable energy resources effectively.

Mr. Green Africa

Venture Round in 2019
Mr. Green Africa Ltd is a Nairobi-based plastic recycling company founded in 2014 that addresses waste management challenges by transforming waste into valuable materials. The company produces a range of recycled plastic products, including rHDPE and rPP pellets in various colors, as well as rPET in clear, blue, and green. By utilizing the existing informal waste management sector, Mr. Green Africa aims to shift perceptions of waste to recognize its value, while also creating economic opportunities and addressing social and environmental issues. The company emphasizes the traceable social and environmental impact of its pre-processed recycling materials, contributing to a more sustainable approach to waste management.
Crop Nutrition Laboratory Services (CROPNUTS) is East Africa’s leading private agricultural services company. We provide our customers with world class laboratory, precision agriculture and soil fertility and fertilizer use advisory services. We partner with farmers to increase their profitability, by raising crop yields through better soil and fertilizer management, and by reducing their input costs through a combination of building healthy soils and adopting precision farming technology.

Jibu

Venture Round in 2019
Jibu provides a comprehensive, turn-key start-up package for local entrepreneurs to start their own neighborhood businesses by treating and packaging water in reusable bottles. 450 million East Africans do not have reliable access to safe drinking water. Jibu currently works within this emerging market in the Democratic Republic of the Congo, Rwanda and Uganda and plans to expand to surrounding countries in the coming years. Jibu provides seed-financing and support to equip East African entreprenerus with the materials needed to launch safe drinking water franchises. Jibu offers an opportuntiy for local entrepreneurs to make drinking water 75% cheaper than bottled water, at the same price as boiling water, but with the convenience of door-side delivery and the aspirational association with bottled water.

Kentaste

Private Equity Round in 2018
Kentaste Products Limited processes, produces, packages, and distributes coconut based products. The company offers coconut milk, creams, and oil for customers who use it in sauces, drinks, curries, and desserts. Its products are available in supermarkets in Kenya. The company was founded in 2011 and is based in Nairobi, Kenya.

Sarura Commodities Ltd

Private Equity Round in 2018
Sarura is a grain trading company based in Kigali, Rwanda, that links small holder farmers with local and international off-takers, such as Africa Improved Foods and World Food Program.

Sendy

Series A in 2018
Sendy Ltd. operates a logistics platform designed for businesses, providing on-demand door-to-door delivery services for e-commerce and facilitating logistics optimization for manufacturers and distributors. Founded in 2014 and headquartered in Nairobi, Kenya, Sendy's user-friendly web platform allows businesses of all sizes to schedule, track, and manage payments for their deliveries efficiently. By connecting users with multiple transporters, Sendy enhances the logistics process and supports the growing demand for reliable delivery solutions in the region.

Sendy

Seed Round in 2017
Sendy Ltd. operates a logistics platform designed for businesses, providing on-demand door-to-door delivery services for e-commerce and facilitating logistics optimization for manufacturers and distributors. Founded in 2014 and headquartered in Nairobi, Kenya, Sendy's user-friendly web platform allows businesses of all sizes to schedule, track, and manage payments for their deliveries efficiently. By connecting users with multiple transporters, Sendy enhances the logistics process and supports the growing demand for reliable delivery solutions in the region.

Twiga Foods

Series A in 2017
Twiga Foods Ltd. operates a mobile-based business-to-business supply platform, serving retail outlets, kiosks, and market stalls across Africa. Founded in 2013 and headquartered in Nairobi, Kenya, the company facilitates the ordering of various supplies, including bananas, pineapples, and tomatoes, through its innovative platform. Twiga Foods aims to streamline the supply chain and enhance access to essential goods for millions of small and medium-sized vendors in urban markets throughout the continent.

Africa Logistic Properties

Venture Round in 2017
Africa Logistics Properties (ALP) is the first integrated property investment and development property company dedicated to the modern grade-A logistics and industrial sector in Africa. Based in Nairobi, the management team includes senior property professionals with 20 years of industrial investment experience in emerging markets. ALP is backed by global institutional investors.

Countryside Dairy Ltd.

Private Equity Round in 2016
Countryside Dairy Ltd, is a milk processing company established in 2014 and operates from the Kenyan equator town of Nyahururu. The firm processes pasteurized fresh milk products for the low-income market segment and institutional organisations such as hospitals, hotels and schools and does about 100,000 litres of milk on a daily basis.

Powergen Renewable Energy

Series A in 2016
Powergen Renewable Energy specializes in delivering energy solutions to various sectors, including residential, community, commercial, government, and industrial customers in East Africa. Established in 2011 and headquartered in Nairobi, Kenya, the company operates additional offices in Arusha, Tanzania; Freetown, Sierra Leone; and Lagos, Nigeria. Powergen focuses on providing comprehensive renewable energy systems, including microgrids, photovoltaic solar systems, and wind energy solutions to address off-grid energy demands. Their services encompass consulting, development, engineering, procurement, construction, operation, maintenance, and financing, ensuring a one-stop solution for clients seeking to harness renewable energy resources effectively.

Copia Global

Funding Round in 2015
Copia Global is an e-commerce company based in Nairobi, Kenya, that focuses on providing a consumer catalog order and delivery system for middle to low-income individuals in developing regions. Founded in 2013, the company enables users to browse products and place orders through a mobile application, which also allows local shopkeepers to manage orders and payments via a mobile payment system. By leveraging mobile technologies and a network of local agents, Copia Global facilitates access to a wide range of quality goods for rural and peri-urban consumers. This innovative approach ensures that individuals without reliable internet access can still make purchases and receive products conveniently, ultimately empowering them as consumers.

The Joseph Initiative Ltd.

Acquisition in 2014
Joseph Initiative focuses on delivering bulk high quality agricultural produce to East African markets. It has developed and deployed an integrated supply chain for maize that stretches from village-level farm-gates across Western Uganda to high-value regional markets.

Waterbus

Private Equity Round in 2014
Waterbus builds and operates catamaran ferries for safe and affordable transport of passengers and their goods.

Prothem

Private Equity Round in 2012
Prothem is the first and only private tea factory in Burundi

M-KOPA

Private Equity Round in 2011
M-KOPA Kenya Limited, established in 2011 and headquartered in Nairobi, specializes in developing and marketing solar home systems designed for off-grid customers. The company offers a range of solar products, including systems equipped with lights, phone charging capabilities, and solar-powered radios. M-KOPA began commercial operations in Kenya in 2012 and has since expanded its services to Uganda and Tanzania. The company operates through a network of over 1,000 retail agents and shops, employing a team of more than 500 staff. M-KOPA is recognized for its innovative "pay-as-you-go" energy services, which leverage a proprietary technology platform that integrates mobile payments and asset financing, facilitating access to affordable energy solutions for underserved communities. The firm is also exploring opportunities to license its technology to reputable partners in markets beyond East Africa.

Bridge International Academies

Private Equity Round in 2009
Bridge International Academies operates primary schools focused on providing education to underprivileged children. Founded in 2007 and based in Nairobi, Kenya, the organization offers services that align with national curricula and emphasizes comprehensive teacher training and development programs. Utilizing advanced wireless technology, Bridge International Academies aims to deliver quality education at no cost to students, fostering opportunities for a brighter future for those in underserved communities.

Tanga Fresh Ltd.

Private Equity Round in 2007
Tanga Fresh Ltd. is a milk processing company that also produces cheese and yoghurt. The company is based in Tanga, Tanzania.
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