This significant milestone allows VKAV to invest in up to 21 high-potential growth-stage companies across the continent.

The funding round saw participation from prominent names like Nigeria’s SCM Capital (formerly Sterling Capital Markets Limited), Taiyo Holdings, and C2C Global Education Japan.

This comes at a time when access to capital is a major hurdle for African startups, particularly those in Series A and B stages.

VKAV aims to bridge this gap by providing crucial funding to these companies.

Partner Ory Okolloh highlights the importance of supporting startups at this critical growth stage, enabling them to achieve long-term success.

Founded in 2022 through a joint venture between Verod Capital and Kepple Africa, VKAV focuses on startups tackling key areas: building digital infrastructure, streamlining business processes, and capitalizing on emerging consumer trends.

The firm has already invested $17.5 million across 12 companies in various sectors – fintech, mobility, e-commerce, proptech, deeptech, insurtech, energy, and healthcare – spanning countries like Nigeria, Egypt, Kenya, Morocco, Ivory Coast, and South Africa.

Their investment range falls between $1 million and $3 million. Notable portfolio companies include Moove Africa, KOKO Networks, Shuttlers, Cloudline, Chari, and mTek-Services.

While remaining open to opportunities across sectors, VKAV shows particular interest in three areas: Vertical Enterprise Resource Planning (ERP) startups, businesses offering embedded financial services, and players in the future of work landscape.

The collaboration between Verod Capital and Kepple Africa empowers VKAV to provide hands-on support to their portfolio companies.

This includes guidance on navigating Africa’s complex economic environment, best practices for operations, and strategies for improved governance.