Verod-Kepple Africa Ventures (VKAV) has successfully closed its debut fund at $60 million and is poised to support up to 21 growth-stage companies across Africa. The pan-African VC reached this milestone with additional funding from Nigeria’s SCM Capital (formerly Sterling Capital Markets Limited), becoming the only non-Japanese investor in the mix. Recent limited partners include Taiyo Holdings and C2C Global Education Japan.
This fresh capital injection follows previous funding rounds in 2022 and the previous year, primarily backed by prominent Japanese institutions like SBI Holdings, Toyota Tsusho Corporation, Sumitomo Mitsui Trust Bank, Japan International Corporation Agency, and the Japan ICT Fund.
Amid an investment slowdown, Verod-Kepple is well-positioned to provide crucial capital to series A and B startups, addressing the scarcity of local growth-stage funding options.
VKAV partner Ory Okolloh emphasized the need for growth-stage capital to support companies in scaling, emphasizing their focus on Series A and B but retaining flexibility to invest earlier if promising opportunities arise.
Founded in 2022 by Okolloh, Ryosuke Yamawaki, and Satoshi Shinada, VKAV operates as a joint venture between Verod Capital and Kepple Africa. The collaboration enables VKAV to offer hands-on support, improve governance structures, and navigate Africa’s complex macroeconomic landscape for its portfolio companies.
VKAV’s investment strategy targets startups contributing to the digital economy infrastructure, addressing business inefficiencies, and catering to emerging consumer trends. The fund has already deployed $17.5 million across 12 companies spanning Nigeria, Egypt, Kenya, Morocco, Ivory Coast, and South Africa in sectors like fintech, mobility, e-commerce, proptech, deeptech, insurtech, energy, and healthcare.
As VKAV expands, it aims to explore untapped markets like Angola, Zambia, DRC, and Tunisia, emphasizing diversity in its portfolio and fostering meaningful partnerships across borders, particularly with Japanese and broader Asian investors.
