Verod-Kepple Africa Ventures (VKAV), a Nigerian venture capital firm, has closed its first fund at $60 million, with backing from SCM Capital, Taiyo Holdings, and C2C Global Education Japan. The fund aims to support up to twenty-one growth-stage companies across Africa, focusing on Series A and B startups, and addressing the gap in growth-stage capital. Established as a joint venture between Verod Capital and Kepple Africa, VKAV aims to provide hands-on support to portfolio companies, facilitating their scale-up phase by offering operational best practices and navigating Africa's complex macroeconomic environment.
The fund has already deployed $17.5 million across twelve companies in various sectors spanning Nigeria, Egypt, Kenya, Morocco, Ivory Coast, and South Africa, with plans to expand its reach to other underserved African markets.