A Leap of Faith That Paid Off

In the heart of Africa’s burgeoning tech ecosystem, a bold vision and a strategic bet have paid off in a big way. Oui Capital, a venture capital firm focused on African startups, has announced the launch of its second fund—a $30 million venture fund. The driving force behind this milestone? A significant exit from its portfolio company, Moniepoint, one of Nigeria’s leading fintech success stories.

Oui Capital’s journey to this moment began with a deep belief in the transformative power of African entrepreneurship. Co-founded in 2019 by Olu Oyinsan and backed by a mission to empower startups solving the continent’s pressing challenges, the firm has quickly risen to prominence.

The Catalyst: Moniepoint’s Remarkable Success

Moniepoint, formerly known as TeamApt, started as a dream to address financial inclusion in Nigeria. As a digital payment and banking solutions provider, it enabled millions of unbanked Nigerians to access critical financial services.

Oui Capital’s early investment in Moniepoint was a leap of faith in a startup tackling a massive but underserved market. The gamble paid off spectacularly when Moniepoint achieved a significant valuation milestone and became one of Nigeria’s most celebrated fintech companies. The exit not only validated Oui Capital’s strategy but also provided the financial leverage needed to launch its second fund.

“Our exit from Moniepoint underscores the potential of African startups to deliver outsized returns,” said Olu Oyinsan, Managing Partner at Oui Capital.

Building on a Strong Foundation

With its first fund, Oui Capital had a modest $10 million to deploy. But it made those dollars count, investing in over a dozen startups across various sectors, from fintech to logistics to edtech. These startups weren’t just about profit—they were about solving real problems for African consumers and businesses.

The firm’s second fund, now three times larger, reflects both its growing reputation and the increasing global interest in African tech. Oui Capital plans to back startups at the seed stage, writing checks between $750,000 and $2 million.

“This new fund is a testament to the confidence investors have in the African startup ecosystem,” said Oyinsan. “We’re excited to double down on innovation and impact.”

A New Wave of Opportunities

Africa’s tech landscape has been buzzing with activity over the past few years, and Oui Capital’s move comes at a pivotal time. In 2022, African startups raised over $5 billion in venture funding—a record that underscored the continent’s growing appeal to global investors.

Oui Capital isn’t just riding this wave; it’s helping to shape it. By focusing on startups solving structural problems in finance, healthcare, logistics, and more, the firm aims to unlock new opportunities for millions of Africans.

The Road Ahead

For Oui Capital, the journey is just beginning. With the new fund, it plans to expand its reach across Africa, looking for founders with bold ideas and the grit to see them through.

The firm’s success also highlights a broader trend: the maturation of Africa’s venture capital ecosystem. Firms like Oui Capital are proving that investing in Africa is not just about philanthropy—it’s about smart business decisions with the potential for significant returns.

“We see a future where African startups are not just regional players but global leaders,” said Oyinsan. “This fund is our commitment to making that vision a reality.”