Since launching in Lagos in 2019, Future Africa has grown from an audacious idea into one of the continent’s most active early-stage backers. The venture capital firm was founded on a simple premise: Africa’s greatest challenges double as its greatest commercial opportunities when entrepreneurs are armed with the right capital and counsel. Just six years later, the firm’s portfolio has swelled to over 130 startups, and its hands-on approach has already produced several headline-grabbing exits. As the firm rolls into its next chapter, Future Africa’s blend of sector-agnostic investing, rigorous founder support and widening geographic reach makes it our Investor of the Week.
Founding Vision and Leadership
Future Africa’s DNA is inseparable from the track record of its founding partner, Iyinoluwa “E” Aboyeji. Before swapping the operator’s seat for an investor’s desk, Aboyeji co-founded two of Africa’s first unicorns—Flutterwave and Andela—raising millions of dollars while steering them to global prominence. His experience scaling payments volume to more than US $2 billion at Flutterwave, and recruiting over 1,000 software engineers at Andela, shaped his conviction that early, intense support can multiply a startup’s odds of success. Managing partner Mia von Koschitzky-Kimani brings complementary muscle. A Harvard Business School graduate who has opened Boston Consulting Group offices across the continent, exited her own retail AI startup to Mastercard, and served as a partner at climate-focused VC Persistent Energy Capital, von Koschitzky-Kimani adds strategic acuity and empathy honed through on-the-ground operating roles. Together, the duo’s operator-led ethos permeates the firm.
Investment Thesis and Strategy
Future Africa targets pre-seed and seed rounds across Africa with cheque sizes ranging from $100,000 to $500,000. The team deliberately stays sector-agnostic, preferring to double down on storytelling, team building, product development, business development and fundraising in a company’s first 300 to 500 days—often as the start-up’s very first investor. That focus has paid dividends: an internal analysis of Fund I and Fund II confirmed that the strongest performers were companies where Future Africa was both earliest to commit and most involved. Fund II, now fully deployed, invested $9.7 million across 85 companies with an average initial cheque of $54,000 and follow-on stakes of $110,000.
Geographic Expansion and Sector Diversity
Though headquartered in Lagos, Future Africa is intentionally pan-African. Fund II’s single West African investment in 2019 blossomed into 13 deals across two regions in 2020. By 2021, 36 new investments stretched into Southern Africa, and 2022 added North Africa, bringing the tally to ten countries. West Africa still claims 57% of the 2022 cohort, but East, Southern and North African ventures now command 43% combined. Sectorally, Financial Services leads with 40 portfolio companies, trailed by Healthcare and Education & Talent at eight each, Retail at seven, and Climate, Real Estate and Logistics clusters rounding out the mix.
Recent Initiative
Future Africa’s commitment to shaping Africa’s technological frontier surfaced again this year with its backing of the Africa Deep Tech Challenge 2025. In partnership with Ilorin Tech Hub, Co-creation Hub and IHS, the initiative seeks edge-computing breakthroughs and power-management solutions tailored to the continent’s realities. The program underscores the firm’s belief that “deep tech” can leapfrog infrastructure gaps while unlocking outsized commercial and societal returns.
Future Africa’s story is still being written, yet the early chapters reveal a fund pairing patient capital with operator-grade mentorship to formidable effect. By seeding bold founders early, staying engaged through the grind of product-market fit, and spreading its bets across geographies and industries, the Lagos-born firm has positioned itself as a bellwether for Africa’s next wave of innovation. If the momentum captured holds, Future Africa is poised not just to spot unicorns but to help mint them—one purposeful, prosperous startup at a time.