ImpactAlpha, January 21 – Oui Capital, a new $10 million venture capital fund, has launched to invest in African seed-stage companies “solving the everyday problems of Africa’s 1.2 billion people.” The firm has made two investments, in bike-sharing company AWA Bike and mvxchange, a software company for the shipping industry.
The firm is targeting six to eight investments of $50,000 to $150,000 each year, focusing on fintech, mobility, healthcare, and education startups “with strong growth and impact potential,” according to Oui’s website.
It will also pair entrepreneurial teams with mentors. Oui Capital calls African founders’ lack of access to high-quality mentors and advisors “the most significant non-financial challenge that African founders face today.”
Oui Capital was founded by Olu Oyinsan, previously of Santa Clara, Calif.-based small business bank Silicon Valley Bank and Nigerian venture firm Ingressive Capital.
