Most institutional capital in Africa arrives at Series A and beyond, when the risk is lower and the returns have already been compressed. Ajim Capital partners before that.
We invest in the companies digitizing financial services, commerce, and enterprise operations across Sub-Saharan Africa, at the stage before the rest of the market understands what they are building. That timing is the entire firm thesis.
Entry valuations at pre-seed in Africa are structurally lower than comparable stages in any other major venture market. The same company, with the same traction, in the same sector, commands a meaningfully higher valuation in Southeast Asia or Latin America. That discount exists not because the companies are worth less, but because the capital is scarcer and the market is less efficient.
African tech startups raised $4.1 billion in 2025 — the strongest total since 2022. But the distribution is deeply skewed. Most of that capital flowed to companies that had already proven themselves. The pre-seed and seed layer remains the most underfunded relative to the size of the opportunity. That gap is what we are here to close. Read our full analysis in The Seed Gap in Sub-Saharan Africa.
We write the first check and stay for the journey. Track record and portfolio details available to qualified investors.