Aruwa Capital Exceeds Targeted $20m, Achieves Final Close On Fund 1

An equity and investment company, Aruwa Capital Management has disclosed that its first institutional fund was oversubscribed and exceeded its expected target of $20million.

Aruwa Capital Management was founded in 2019 by Adesuwa Okunbo Rhodes who has leveraged more than a decade of investment banking and private equity experience from leading global organisations such as J.P. Morgan.

Speaking on the development, The Managing Partner, Aruwa Capital, Adesuwa  Okunbo-Rhodes pointed out that the investment gap faced by women in Africa which comprised 40% of all small and medium enterprises (SMEs) regrettably received only 1% of startup capital 1 which she attributed to the lack of female capital allocators in the region.

Adesuwa noted that the Fund aims to create more sustainable and scalable pathways for economic growth and inclusion in the region through its investment strategy.

She noted that the fund will invest $500 thousand to $2.5 million in women focused small and growing businesses in Nigeria and Ghana, targeting investments in critical sectors such as healthcare, fintech, renewable energy, and essential consumer goods.

According to her, Aruwa invests in innovative businesses, poised for scale, that provide essential goods and services to the rapidly expanding female economy, and businesses that are founded or led by women or have gender diverse teams.

“The investment gap faced by women in Africa which comprised 40% of all small and medium enterprises (SMEs) regrettably received only 1% of startup capital 1 which she attributed to the lack of female capital allocators in the region.

“Through its investment strategy, the Fund aims to create more sustainable and scalable pathways for economic growth and inclusion in the region.

“The Fund will invest $500 thousand to $2.5 million in women focused small and growing businesses in Nigeria and Ghana, targeting investments in critical sectors such as healthcare, fintech, renewable energy, and essential consumer goods.

“Aruwa invests in innovative businesses, poised for scale, that provide essential goods and services to the rapidly expanding female economy, and businesses that are founded or led by women or have gender diverse teams.

Also speaking, Head of Investments at Visa Foundation, Najada Kumbuli said Visa Foundation is pleased to be the first institutional investor in Aruwa Capital Management.

Najada expressed believe in the need to empower and invest in more women led investment in order to address the financing  gap that women-led small businesses face.

“Visa Foundation is pleased to be the first institutional investor in Aruwa Capital Management.

“We deeply believe that in order to address the financing  gap that women-led small businesses face, we need to empower and invest in more women led investment funds like Aruwa,” Najada said.

Managing Director at Nyala Venture, Bart Schaap stated that their weight is behind local and innovative capital providers in Sub Saharan Africa with a focus on gender lens with their investment.

Schaap explained that Adesuwa has made history today being the first female solo GP to raise an institutional first fund over $10 million in Nigeria.

“With our investment, we are putting our weight behind  local and innovative capital providers in Sub Saharan Africa with a focus on gender lens.

“Adesuwa has made history today being the first female solo GP to raise an institutional first fund over $10 million in Nigeria,” Schaap said.