Kenyan consumer goods company Kenafric Group has launched Kenafric Ventures, a US$10 million corporate venture fund. It will back early-stage African consumer businesses. The fund is managed by S2E Africa and was designed with support from FSD Africa.
Investment focus
The fund will write checks between US$100,000 and US$2 million. It targets companies with product-market fit that are ready to grow. Its focus includes food and beverage, beauty and personal care, and consumer-facing retail platforms.
Company background
Kenafric Group was founded in 1987 and is led by CEO Mikul Shah. It makes confectionery, food, beverages, footwear, and stationery. The company started in Kenya and sells its brands across African markets.
Founder support
Alongside capital, selected companies can draw on Kenafric's manufacturing, distribution, and market knowledge. The program is designed around challenges such as regulatory differences, uneven infrastructure, and complex distribution channels. The relationship may later expand into distribution, manufacturing, new markets, or acquisition.
The fund is now open to founders and co-investors across Africa. Founders can apply through S2E Africa's website. Interested corporations and investors can contact S2E Africa.