A new pan-African tech fund has been established by African venture capital firm Renew Capital to support creative entrepreneurs creating cutting-edge businesses across the continent.
Renew Capital is a pan-African investment firm that was founded in 2012 by Matt and Laura Davis. It manages investments for a global network of HNIs, foundations, and family offices that are looking for both long-term financial returns and positive social impact.
The company prioritizes the vision and character of its founders and invests in tech-enabled businesses, claiming to have a “founder first” strategy.
“We believe in founders with integrity, intelligence, grit, and vision who can lead their countries forward,” said Matt Davis.
With an emphasis on asset-light businesses for a flexible and resilient portfolio, Renew Venture Lab Fund 1 was created to assist startups at the forefront of innovation with scalable and sustainable business models. Octavia Carbon in Kenya, MPost in Kenya, Opareta in Uganda, and Tappi in Kenya are some of the portfolio companies.
Renew Venture Lab Fund 2 (RVL2) has now been opened by Renew Capital, following the closure and capital deployment from Renew Venture Lab Fund 1. With the goal of supporting and training founders and their teams, this fund will invest in up to 50 tech startups in Africa. The firm’s growth-stage investment fund, Renew Capital Fund 1, will make larger investments available to the most successful companies in RVL2.
