Verod-Kepple Africa Ventures (VKAV) has successfully concluded its inaugural fund, raising $60 million. The fund counts SBI Holdings, Toyota Tsusho Corporation, Sumitomo Mitsui Trust Bank, and other key institutional investors among its backers. Based in Nigeria, VKAV is a collaboration between Verod Capital Management and Kepple Africa Ventures, focusing on mid-sized business investments. VKAV aims to address the funding gap for African companies in Series A and B stages, focusing on digital infrastructure, consumer-business efficiencies, and new market opportunities.
The team, equipped to support portfolio companies in fundraising and governance, is committed to operational best practices. Twelve businesses, including Moove Africa and KOKO Networks, have already secured funding from the fund.