Seedstars Africa Ventures

Seedstars Africa Ventures is an early-stage venture capital fund dedicated to backing high-growth technology companies across Sub-Saharan Africa. Operating from offices in Nairobi, Dakar, and Paris, the six-person team covers more than 25 SSA countries. The fund is co-led by Managing Partners Maxime Bouan and Tamim El Zein together with General Partner Bruce Nsereko-Lule, who is based full-time in Nairobi. Seedstars Africa Ventures I reached a first close of $42 million in December 2024, anchored by LBO France, and has secured approximately $50 million toward an $80 million final target. Limited partners include the African Development Bank ($10.5 million), the European Investment Bank's EIB Global vehicle ($30 million via the EU's ACP Trust Fund and Boost Africa), and additional institutional investors. The fund leads rounds and writes initial checks of $250,000 to $2 million into seed-plus and Series A companies, with meaningful follow-on capacity reserved. Sector approach is deliberately broad — fintech, payments infrastructure, agritech, energy access, education, healthcare, internet connectivity, and food systems — with a pronounced preference for companies addressing basic needs that reach large populations. Approximately $10 million has been deployed into five startups that together reach 60 million-plus people, connect 60,000 households to the internet, support 50,000 farmers, and deliver financial inclusion to 30,000 people across eight African countries. Named portfolio companies include Poa Internet (Kenyan ISP), Beacon Power Services (Nigerian grid-management SaaS), Shamba Pride (Kenyan agritech), and Bizao (pan-African payments). Seedstars Africa Ventures draws on the broader Seedstars Group's presence across 90-plus startup ecosystems worldwide, providing portfolio companies with connections to global investors, corporate partners, and peer networks that are otherwise difficult to access from Sub-Saharan Africa.