Small Foundation has announced a significant investment in Unmarkets, a venture builder creating new food and agricultural businesses in Kenya. Founded in 2023 by Milan Samani, Unmarkets co-creates ventures with established, African-owned companies. This strategic partnership leverages existing infrastructure and expertise to foster sustainable growth in the region's agricultural sector.
A Novel Approach to Agribusiness Development
Unmarkets operates by forming deep partnerships with established agricultural firms that possess key assets and market knowledge. The venture builder then co-creates new enterprises, building upon the partner's foundation of facilities, brands, and supplier networks. This collaborative method is designed to accelerate the development of robust and competitive agribusinesses from the start.
In this symbiotic relationship, partner companies contribute their operational expertise, market access, and initial capital. Unmarkets complements these assets by providing additional funding and leading the strategic design of the new business. This includes recruiting management, developing products, and offering ongoing finance and operational support to ensure success.
Addressing a Critical Gap in African Venture Support
The support landscape for early-stage businesses in sub-Saharan Africa has historically favored tech startups. This leaves a significant gap for agribusinesses, which have different, capital-intensive needs like machinery and physical distribution networks. These ventures often struggle to secure the right kind of backing to get off the ground and scale.
Unmarkets directly addresses this challenge by building alongside established operators instead of starting from scratch. This model circumvents the high initial costs of setting up processing facilities and securing supply from thousands of farmers. By doing so, it creates a more direct and viable path to market for new agricultural products and services.
Small Foundation's Strategic Investment
Small Foundation's involvement with Unmarkets began in 2024 with a grant to help solidify the venture builder's corporate structure. This foundational work clarified ownership and incentive models, making the company ready for direct investment. The successful collaboration paved the way for this more substantial financial commitment to scale the model.
The new investment capital is earmarked to launch four distinct ventures, moving them from design to full commercial operation. Funds will be allocated for purchasing equipment, contracting suppliers, testing products, and hiring essential team members. This capital is critical for translating Unmarkets' innovative concepts into tangible, trading businesses.
Fostering Rural Prosperity and Economic Growth
The ultimate goal of this initiative is to generate widespread benefits across the rural economy. By creating stronger businesses, the model aims to establish reliable, long-term markets for smallholder farmers. This ensures that more value from agricultural processing remains within local communities, fostering economic stability and growth.
Milan Samani, founder and CEO of Unmarkets, welcomed the investment and its potential impact. “We believe Africa’s next generation of agribusinesses will be built by combining the strengths of established local companies with products and brands designed for regional and global markets,” he stated. This vision underscores a shared commitment to creating lasting prosperity and opportunities throughout rural communities.
This investment by Small Foundation marks a pivotal moment for Unmarkets and its innovative approach to agricultural development in Kenya. The partnership champions a model that builds on local strengths to create globally competitive and sustainable enterprises. Ultimately, this collaboration has the potential to reshape the agribusiness landscape and drive meaningful economic progress for rural communities.