Chui Ventures, a Pan-African seed-stage venture capital fund with a gender-inclusive mandate, has announced the final close of its debut Fund I at $17.3 million, marking a major boost for early-stage founders across the continent.
The fund aims to bridge critical startup financing gaps across Africa while actively promoting gender diversity within the venture ecosystem. With the final close now secured, Chui Ventures is positioned to accelerate its mission of supporting high-growth founders building scalable, tech-driven solutions for African markets.
The fund has attracted commitments from a diverse base of Foundations, Family offices, and over 30 High-Net-Worth individuals, including the Mastercard Foundation Africa Growth Fund and the Michael & Susan Dell Foundation.
Over 90% of the HNW investor base is of African origin, 60% of whom are African Female executives, underscoring Chui’s commitment to the mobilisation of African capital that is critical to the entire ecosystem.
“Our vision at Chui is simple but powerful: For Africa, by Africa,” said Joyce-Ann Wainaina, General Partner of Chui Ventures. “We believe African founders are best positioned to solve Africa’s challenges at scale, and Fund I is proof that global and local investors share this conviction. As we look ahead, we will continue to double down on technology-driven ventures that deliver both returns and measurable social impact.”
Driving Seed-Stage Growth Across Africa
Chui Ventures Fund I focuses on high-potential seed-stage companies, with an emphasis on:
- Scalable digital solutions
- Inclusive business models
- Founders addressing Africa’s largest market needs
- Gender-balanced teams or women-led innovation
The fund aims to catalyse a new wave of early-stage investment across sub-Saharan Africa, where access to seed capital remains uneven and early rounds are increasingly competitive.
Chui Ventures’ gender-inclusive mandate ensures that women founders and diverse leadership teams are meaningfully represented in the fund’s portfolio—addressing one of the continent’s most persistent tech ecosystem gaps.
Why This Fund Matters for Africa’s Startup Ecosystem
Africa’s venture funding has seen fluctuations over the past two years, with early-stage companies feeling the pressure of a global funding slowdown. Chui Ventures’ close signals renewed investor confidence in the region’s long-term growth potential.
Key impacts expected:
- Increased availability of pre-seed and seed capital
- More diverse investor backing for women-led teams
- Stronger pipeline of scalable African tech companies
- Strengthened support for founders in frontier markets
The fund’s Pan-African approach ensures capital reaches entrepreneurs across multiple regions—from East and West Africa to emerging hubs in Southern Africa.
What’s Next for Chui Ventures
With the $17.3M fund now closed, Chui Ventures plans to:
- Accelerate investments in high-performing early-stage startups
- Expand strategic support through hands-on mentorship
- Strengthen partnerships with local accelerators and ecosystem builders
- Champion gender-balanced innovation at the seed stage
The firm is expected to announce additional portfolio companies as it deploys capital across sectors such as fintech, healthtech, climate, agritech, logistics, and digital commerce.
