So far in 2022, Andela and Flutterwave co-founder Iyinoluwa Aboyeji’s Future Africa fund, which was created in 2020 by Andela and Flutterwave co-founder Iyinoluwa Aboyeji, has invested US $1.1 million in 17 firms, adding 15 new enterprises to its portfolio.
The team’s first goal was to create an online community to promote debates about Africa’s future, but they quickly realised that more was required, and they began an evolution process. The Future Africa fund, which was opened to co-investors in April 2020, is a significant component of this.
The Future Africa Collective, a group of angel investors, invested $4.3 million in 43 firms in 2021, bringing its total assets under management (AUM) to $30 million, and it is off to a solid start in 2022.
It has invested US $1.1 million in 17 businesses so far, and by the end of April 2022, it will have added 15 more businesses to its portfolio. Future Africa now has 79 portfolio companies, including nine pre-seed investments, six seed investments, and two Series A investments.
“We welcomed startups from Nigeria, Kenya, and South Africa, and made our first investment in Uganda in April. Other investments outside the continent are in products serving the African market,” Future Africa said.
