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African Startup Funding Tracker

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VC Firm Oui Capital Closes Second Fund At USD 30 Mn
VC Firm Oui Capital Closes Second Fund At USD 30 Mn

Oui Capital, an Africa-focused venture capital firm based in Lagos and Massachusetts, has announced the completion of the first close of its USD 30 Mn second fund, Oui Capital Mentors Fund II, as part of its efforts to strengthen its footprint on the continent. Among the global VCs participating in this second round are Angur Nagpal’s Vibe Capital, D Global Ventures, Boston-based One Way Ventures, and Ground Squirrel Ventures.

 Individual investors included Foundry Group partners Brad Feld, Seth Levine, and Ryan McIntyre, Gbenga Oyebode, Alitheia Capital’s Tokunboh Ismael, Idris Alubankudi, and TeamApt CEO Tosin Eniolorunda. The fund will support Sub-Saharan African firms in the pre-seed and seed phases. The firm intends to increase its investments in North Africa and Francophone Africa.