Aruwa Capital Secures $35M in Second Close of Fund II

Aruwa Capital Management, a Lagos-based, female-led venture capital firm, has raised $35 million in the second close of its Fund II, reaching 90% of its $40 million target. The fund focuses on early-stage investments in sectors such as healthcare, energy access, financial services, and consumer goods in Nigeria and Ghana. Notable investors include British International Investment (BII), Mastercard Foundation Africa Growth Fund, Visa Foundation, and Nigeria’s Bank of Industry. The firm has already invested in Yikodeen, a local manufacturer of industrial safety boots, and Toasties, a fast-growing casual dining chain. Aruwa plans to increase the fund’s target to $50 million, with a hard cap of $60 million later this year.

Disrupt Africa