Chui Ventures is a Pan-African seed-stage venture capital firm operating from Lagos, Nigeria, and Nairobi, Kenya. The firm invests in local founders building mass-market, tech-enabled solutions across Sub-Saharan Africa, with a strong gender-inclusive mandate. Chui Ventures focuses on the earliest stages of company building and aims to provide catalytic support to founders addressing pressing needs across African markets. Its first fund has already demonstrated meaningful traction through both portfolio expansion and follow-on financing.
Chui Ventures backs African-led companies delivering scalable, technology-enabled products in essential sectors with broad consumer demand.
The firm invests across fintech, healthtech, digital commerce, agritech, logistics, and consumer-facing platforms, prioritizing solutions tailored to local market realities and underserved demographics.
Chui Ventures closed its inaugural Fund I at $17.3 million in 2025, securing commitments from foundations, family offices, and more than 30 high-net-worth individuals. Key backers include the Mastercard Foundation Africa Growth Fund and the Michael & Susan Dell Foundation, both strong supporters of early-stage innovation across the continent. Since its first close in February 2023, the fund has deployed 60 percent of its capital, investing in 18 companies across five Sub-Saharan African markets.
Fund I is structured to target 22 portfolio companies, focusing on startups that can rapidly scale essential services to mass-market users. Its portfolio includes companies such as Pricepally, a Nigerian online grocery platform; Leta, a supply chain SaaS built in Kenya; Uncover, a modern skincare brand designed for African women; and Flex Finance, a SaaS platform for spending management. Several portfolio companies have already achieved profitability or are expected to reach it within the next year, and five have secured follow-on rounds at higher valuations.
The close of Fund I coincides with Chui Ventures’ announcement of Fund II, targeting $60 million with a hard cap of $100 million, which will expand the firm’s geographic focus into North Africa and increase exposure to financial services, B2B software, digital commerce, and climate technology. The firm also aims to secure stronger ownership positions in its next portfolio.
Leadership
Chui Ventures is led by General Partner Joyce-Ann Wainaina, a highly respected operator and investor within the African innovation ecosystem. Her leadership combines deep regional experience with a strong commitment to advancing gender-inclusive venture investing.
Investment Strategy
Chui Ventures follows a seed-first strategy centered on supporting local founders serving broad consumer and business needs across Sub-Saharan Africa. The firm prioritizes companies capable of scaling quickly and profitably, with strong attention to unit economics, distribution, and adaptability to fragmented markets.
Beyond capital, Chui Ventures provides operational guidance, governance support, and strategic introductions to partners and follow-on investors.
Its approach is grounded in local market knowledge, inclusive investing principles, and the ability to identify founders building high-usage, necessity-driven products.
Notable Investments
Chui Ventures’ Fund I portfolio includes 18 companies such as:
These companies span fintech, healthtech, consumer commerce, agritech, and logistics, with several achieving substantial traction and raising follow-on capital at higher valuations.
Notable Exits
Not publicly disclosed. Fund I is still in active deployment and early in its lifecycle.
Other
Chui Ventures has rapidly become a meaningful signal in African seed investing, in part due to its gender-inclusive mandate and the institutional credibility of its LP base.
The firm’s upcoming Fund II will expand its geographic reach into North Africa and increase its emphasis on financial services, B2B software, digital commerce, and climate technology.
For founders, Chui Ventures provides local insight, sector understanding, and early validation from globally recognized foundations and financial institutions.
Kenya
