2X Ignite GP Sprint 2024

Africa Cohort

The 2024 cohort brings together women-led or gender-diverse fund managers with innovative investment strategies and market approaches across Africa.

In partnership with:

The 2XI Africa GP Sprint is a six-month accelerator programme designed to boost the fundraising journey of women/diverse-led fund managers with gender-smart investing strategies across the African continent. The programme will run from the end of April until early November 2024.

All GPs were selected by a team of representatives from 2X Global, fund investors and fund investment experts based on an online application process and personal interviews.

The selected cohort represents diverse investment strategies and market approaches across Africa.

Read about these fund managers below.

Meet the Fund Managers

Catalyst Fund | Pan Africa

The Catalyst Fund is a VC fund and accelerator investing for a climate-resilient future in Africa. The fund invests across key sectors for climate adaptation, including climate-smart agritech and food systems, climate insurance, land restoration, cold chain, waste management, sustainable energy, and water management. The fund plans to back 40 high-impact and high-growth ventures that will deliver benefits for communities and the planet. 

The team brings 40+ years of combined experience investing in Africa and other emerging markets. They have backed 80+ startups across 15 emerging markets, 20 out of the new climate VC fund. To date, their unique venture-building support led to >$800M in follow-on funding raised, an 88% portfolio survival rate, and over 40m customers reached. Visit their website here.

Fund Managers:

  • Maelis has 15+ years of experience in impact investing, climate finance, and tech to drive solutions to the world's most pressing challenges. By investing in and supporting over 80 startups in emerging markets -- primarily in Africa, Maelis has contributed significantly to the growth of the fintechand climate tech ecosystem. She worked at the International Finance Corporation, OECD, Grameen Bank, and Global Partnerships, focusing on emerging market investing, inclusive finance, and climate adaptation. She also co-founded RemitMas, a fintech startup aiding immigrants with remittances for long-term savings. 

  • Maxime is the Operating Partner at Catalyst Fund. He first joined the team as  Head of Venture Building & Lead Venture Partner in early 2021 and became a Partner in 2023. He has led the support for over 20 startups across 8 African markets and expanded Catalyst Fund’s network of nearly 200 VC partners globally. Previously, Maxime was Head of Venture Building at Greentec Capital, accelerating 10 portfolio companies. Over the past decade, he has invested in, accelerated, or advised over 50 African startups. Co-creator of "Africa: The Big Deal," Maxime provides valuable data on African startups. His extensive network and passion for entrepreneurship drive Africa's startup ecosystem.

Altree Kadzi Gender Climate Fund | Sub-Saharan Africa

Altree Kadzi Gender Climate Fund ('AKGCF') provides growth capital to women-founded, led, or oriented businesses across Africa, integrating climate-smart practices and leveraging technology for scalability. The team is dedicated to assisting portfolio companies implement climate-smart strategies, enhance gender policies, scale rapidly and improve risk mitigation. AKGCF will hold at least 40% of its portfolio in direct climate opportunities with 60% of its holdings today invested at the nexus of gender and climate.

The AKGCF is managed by Altree Capital, a leading provider of African asset management and investment advisory services and investment manager of the award-winning Africa Opportunities Fund SAC. Learn more.

Fund Manager:

  • Jenni Chamberlain is the Founder and CEO of Altree Capital and as a partner of the Altree Kadzi Gender Climate Fund. With a rich history in finance, Jenni previously managed the Altree Africa Fund (2006-2022) and the Altree Africa Credit Fund SAC (2014-2018). Prior to her tenure at Altree Capital, Jenni founded Securities Africa Ltd, a prominent pan-African investment bank. Her extensive experience also includes roles such as Managing Director of EMEA Equities at HSBC in New York and London, Director of African Equities at Société Générale and Equity Research Analyst at NatWest Markets where she was top-ranked analyst for Africa outside of South Africa (1998-1999).

Opera Green Industry Capital 4.0 | Sub Saharan Africa

OPERA GREEN INDUSTRY CAPITAL is a EUR 75M growth climate fund based in Mauritius to fund equity investments in West and Southern Africa, with a focus on decarbonized industry, climate-resilient agriculture, education and financial services sector based on a build-up and buy-out strategy with an exit strategy on the stock market, by bringing SMEs to list. 

Ultimately, the fund’s goal is aligned with EU Global Gateway: net zero emission by 2050, jobs creation, women's empowerment. The fund aims to bring about the emergence of Pan-African Multinationals by supporting the transition to a decarbonised economy, to boost climate resilience, economic competitiveness and enable the emergence of a middle class with equitable shares of wealth. Connect with the founder.

Fund Manager:

  • Aissatou has 18 years experience in private equity, financing, consulting, strategy, corporate support and business development. 

    She is founder and CEO of the pan-African investment company M&A Capital 9 years ago. Their first investment vehicle is a VC specialises in direct investment, equity participation, acquisitions, business development and strategic support for companies. It invests in agribusiness, agri-food, fintech, AI, IT, Agri tech, education/training and financial services. The fund holds around 12 companies in Sub-Saharan Africa, $10M raised, 2 exits, 1 Startup, 2 businesses closed due to Covid, 5 success stories.

Khuwaylid Capital Fund I SAS | Senegal

Khuwaylid Capital, the first Islamic impact investment fund in Francophone Africa. The fund targets SMEs in strategic sectors such as agribusiness, education, and healthcare. Khuwaylid Capital's investment philosophy integrates socially responsible and ethical principles with rigorous financial analysis, demonstrating a strong commitment to positive social and environmental impact. This approach positions the fund as a key player in driving sustainable change and fostering inclusive growth in the region, catalysing the Halal economy. Learn more.

Fund Manager:

  • Diago Dieye is a seasoned finance professional known for her commitment to providing access to capital for small and growing businesses, particularly in her native Senegal. Her recent accomplishment includes co-structuring and deploying a USD 30 million Access to Finance Program, which has backed over 1,700 SMEs and funded over 16,600 micro-entrepreneurs in Senegal.

WEAV Capital | Nigeria

WEAV Capital is a seed stage venture capital fund and accelerator based in Nigeria, investing in high growth tech or tech-enabled businesses that  are spearheading innovation and solving Africa’s greatest problems in sustainable ways. Through their tailored accelerator, they have accelerated over 12 companies and built a proprietary pipeline of prospective companies.

Their senior team has strong investment and corporate experience leading over $1bn in capital aimed at supporting investments and SMEs on the African continent. Beyond investment expertise, the team has core expertise in entrepreneurship, start-up mentoring, technology, and operations. Visit their website.

Fund Manager:

  • Amaka is an investment professional with over 17 years of experience in finance and impact investments. She previously worked at the World Bank on private sector development, directly managing a portfolio of over $1.1 billion in projects financing and providing technical assistance to high growth businesses across Sub Saharan Africa. Through her work, she has contributed actively to the growth of financial inclusion, climate-tech, and agri-tech sectors in Sub-Saharan Africa.

Sahara Impact Ventures Fund I | West and East Africa

Sahara Impact Ventures is an Accra based investment advisory and impact fund manager investing in early and growth stage businesses at the nexus of climate change and gender disparity in Sub Saharan Africa. Fund I is dedicated to high growth sectors and impactful businesses operating within three interactive sectors, namely; Sustainable Food Systems, Clean Energy and Increased Access (to Financial Services, Healthcare & Education). 

Fund I’s geographic focus is mainly on West Africa (Ghana & Nigeria) and opportunistically in East Africa (Kenya, Tanzania & Uganda). Leveraging our investment funds, we aim to address the key climate vulnerabilities Africa is faced with; Food Security and Clean Energy Access while creating jobs for the youth and alleviating poverty in a gender responsive way. Learn more.

Fund Managers:

  • Yvonne Ofosu-Appiah is an investment professional with 17 years experience working within banking, capital markets and impact investing across sub-Saharan Africa.

    Prior to co-founding Sahara Impact Ventures, she worked in private equity and venture capital. Of her 10 years in that space, she spent half as Chief Investment Officer for a climate focused early-stage fund where she led the team to invest in 8 climate resilient businesses within renewable energy, e-mobility, eco-manufacturing, water treatment and climate smart agriculture. She also deployed capital as an angel investor in women led/founded food processing companies in Ghana and Nigeria.

  • Mandy Nyarko is a startup and VC professional with 16 years’ experience working in banking, building climate innovation programs and deploying capital through angel investments in the UK and Africa.

    Prior to co-founding Sahara Impact Ventures, she spent 8 years founding companies that provided business growth support to climate founders including Startup Discovery School, a Climate Tech Accelerator in the UK which has now expanded into Asia and Africa. She was also a Venture Partner at Ada Ventures where she deployed capital as an angel investor.

East Africa Growth Impact Fund | East Africa

The credit crunch hits hardest on Small, Medium, and Mid-Sized Enterprises, which provide 60-80% of all jobs in Africa. East Africa Growth Impact Fund (EAGIF) is purpose built in partnership with TLG Capital to provide private credit investments in USD, tailored to funding and growth needs of impactful SMEs. In most cases, consolidated USD loans can be difficult to access.

The fund deploys a stretched senior debt strategy and is sector agnostic, leveraging global best practice in deal structuring coupled with local insights and relationships. Learn more.

Fund Manager:

  • Amanda brings with her a process-driven approach to origination and monitoring as well as a passion for supporting SMEs in the region, and particularly those run by women. She set up and ran TLG Capital’s Kampala office, serving as TLG’s Head of East Africa. Prior to this, she led transaction advisory services for various SMEs, with a track record of arranging over $26 million in tailored financing. Amanda previously worked with Deloitte and PricewaterhouseCoopers (PwC) across East and South Africa, leading business transformation and development projects. Her consulting portfolio includes the World Bank, the Government of Uganda, regional departments, agencies, and DFIs.

Kazana Fund | Ethiopia & Kenya

Kazana Fund is a sector-agnostic, pre-seed/seed fund investing in early-stage businesses across East Africa. Supported by a network of business leaders and operational managers, the fund is uniquely positioned to drive profitability and foster sustainable economic growth within the region. Kazana focuses on empowering mission-driven companies that contribute to job creation and introduce GDP-transformative technologies. 

Kazana’s mission is to forge connections within East Africa, and particularly with Ethiopia, targeting companies poised for cross-industry and cross-border expansion. Despite the challenges of scaling in Ethiopia, the team’s extensive deal-structuring experience and deep understanding of local dynamics enable us to effectively support our portfolio companies' regional expansion. Visit their website.

Fund Managers:

  • Hilina brings a wealth of experience working with international startups and transaction advisory in East Africa. 

    She held the position of Head of 5G Acceleration at Wayra UK where she led the UK’s first 5G commercial application accelerator. She worked with over 50 institutions in construction, manufacturing, transport, smart cities, green tech and live events. She designed open innovation accelerators that help startups develop commercial relationships with industry leaders. The startups reported 87% market readiness and raised close to $90M. She also has a background in consulting with a sharp focus in M&A, where she advised leading private equity firms and multinationals with buy side due diligence of over $100Mn in transactions at Grant Thornton Ethiopia.

  • Addis Alemayehou is a serial entrepreneur with over 20 years of experience of building successful ventures in East Africa. He has become a household name in Africa’s business and entrepreneurship landscape, with Ethiopia as the genesis of his successful career. Addis is an investor in over 17 companies under his holding company Kazana Group, with two successful exits 105.3 Afro FM and Kana TV.

    His active engagement in the Ethiopian startup ecosystem includes co-founding Addis Ababa Angel Network (AAA). He serves on multiple boards including Dangote Ethiopia, KEFI Gold & Copper mining, African Leadership Network, Ethiopian American Business Forum and ICT-ET.  He is a senior advisor for Albright Stonebridge Group, Roha Group and Fortescue.

MsFT Ventures | South Africa

MsFT Ventures (pronounced Misfit) is a Cape Town-based SME debt fund that provides flexible working capital financing to fast-growing African SMEs that use technology to scale infrastructure.* The fund aims to unlock liquidity as early as 3 years after deployment.

MsFT is raising a $6M, South Africa-focused, proof-of-concept (POC) fund to invest in 10 fast-growing, women-led, SMEs and prove that our innovative model can indeed unlock early liquidity for LPs. Connect with the co-founder.

*MsFT SMEs use technology to improve the efficiency of existing real-world assets, like inventory agent networks, logistics infrastructure (EV motorbikes and charging stations), diagnostic centres, and creating solutions for the continents’ $100B annual infrastructure gap and $120B trade finance gap.

Fund Managers:

  • Egla is a seasoned African investor with an extensive background in early-stage venture capital and cross-border trade finance. During her time at Standard Chartered Bank, she deployed over $1B in trade finance, working capital, and foreign exchange facilities. She managed the entire debt portfolios of the FirstRand Group, ABSA Group, Afreximbank, and other large corporations. 

    She is an ex-SME operator and headed the operations of a fast-growing consumer retail business where she led the expansion strategy. Egla works closely with entrepreneurship development organisations and mentors multiple programs focused on the development of commercialization and go-to-market strategies for idea-stage female-led businesses.

  • Jill has almost a decade of investment experience in venture capital, private equity, and hedge funds in Africa. During her five years at Newtown Partners (NP), she deployed more than $10M in seven Seed and Series A venture capital transactions across Africa and Latin America in various industries, including healthcare, e-commerce, and agritech.

    She is a board observer for five start-ups and works closely with entrepreneurs on strategy development, transaction structuring, and advisory. Jill is leading NP Fund 1’s exit strategy and has secured a roll-up exit for an early-stage last-mile delivery startup with a regional logistics champion in Latin America.

Aisiki | Southern Africa

Aisiki Capital is an SME Early Stage Capital firm whose core investment philosophy is sustainability achieved through investing in high impact and high growth women and young adult businesses, utilising a gender and climate lens.

Aisiki stands at the forefront of unlocking this potential by offering investors a gateway to impactful and sustainable investments in Southern Africa. By focusing on women and young-adult-led enterprises, Aisiki not only taps into a wellspring of innovation and drive but also addresses the crucial need for inclusive growth and gender equality in the business ecosystem. The fund's strategic positioning and in-depth market knowledge enable it to mitigate risks effectively, ensuring that investments are not only financially rewarding but also contribute to the social and economic upliftment of the region. Learn more.

Fund Managers:

  • Janice is an impact investor driven by a passion to empower and promote the growth and self-sustenance of businesses in Africa through innovative socio-economic solutions. She has over 24 years cross-sector experience executing and leading deal advisory mandates, and private equity & venture capital investments, spanning several countries in Africa and the USA.

    Janice brings deep expertise in investment analysis, corporate finance, financial due diligences, valuations, financial modelling, post-deal integration, carve-out reporting, impact investing, fundraising and portfolio value creation. Janice is also a Director at Ivhu Advisors, a boutique advisory firm focused on public-private partnership infrastructure projects across Africa.

  • Rufaro is a seasoned venture builder. She brings 25 years of leadership and operational experience in various sectors across Africa and Australia. Her expertise includes banking & financial services, socio-economic development, executive search, impact investment, strategy, human capital development, consulting and advisory. Rufaro is passionate about women’s economic empowerment and catalysing gender smart investing in the region. 

    She is also an organisation and leadership development consultant and certified executive coach with Berachah Global, a boutique advisory firm that works with clients to build effective ecosystems and enables people operating within them to thrive.

Equifund 1 | Southern Africa

wCap Limited is a Zambian investment management firm launching Equifund 1, a gender lens and climate impact fund that invests growth stage women led or owned businesses offering climate solutions for Southern Africa.  Equifund 1 targets innovative startups and scalable businesses across diverse sectors including renewable energy, sustainable agriculture, and technologies. The fund's dual mandate ensures investments not only yield financial returns but also generate significant social and environmental impact. 

The fund management team at wCap specialises in value creation and has a multi-million dollar transaction history and knowledge of the investment landscape in Southern Africa giving an added advantage when creating investment and exit strategies for each investee company within the portfolio of investments. Learn more.

Fund Managers:

  • Nyeji is a seasoned economist and investment professional with over 20 years of experience in various fields of investments including corporate finance,  venture capital, private equity and foreign direct investments in Zambia. She is passionate about investments and female economic empowerment in particular. Through her work with an International organisation in Zambia she designed a female economic empowerment programme for Zambia with over 20,000 beneficiaries. She has a thorough understanding of finance for emerging markets and has worked in South East Asia. Her international experience includes transaction advisory work during her time in the United Kingdom. Nyeji is a global member of the 100 Women in Finance Group and the Women Leaders for Climate Action Group in Zambia.

  • Yvonne has 18 years of comprehensive experience across diverse sectors in the US, UK, and Zambia. She possesses a robust skill set in various areas including enterprise development, risk, operational management and investment advisory. At wCap Ltd, Yvonne drives innovation and fosters growth in the local entrepreneurial ecosystem. Yvonne is a member of the Institute of Risk Management South Africa and the Institute of Bankers in South Africa, where she continues to contribute her insights and expertise to the banking and risk management community.