African venture capital firm Renew Capital has launched a new pan-African tech fund to back innovative founders building world-class companies on the continent.
Founded by Matt and Laura Davis in 2012, Renew Capital is a pan-African investment firm that manages investments for a global network of HNIs, foundations and family offices seeking financial returns and sustainable social impact.
The firm invests in tech-enabled companies and claims to have a “founder first” approach, prioritising the character and vision of founders.
“We believe in founders with integrity, intelligence, grit and vision who can lead their countries forward,” said Matt Davis.
Renew Venture Lab Fund 1 was designed to support startups at the forefront of innovation with scalable and sustainable business models, focusing on asset-light companies for a resilient and adaptable portfolio. Portfolio companies include Uganda’s Opareta, Kenya’s MPost, Kenya’s Octavia Carbon, and Kenya’s Tappi.
Following the closing and deployment of capital from Renew Venture Lab Fund 1, Renew Capital has now launched Renew Venture Lab Fund 2 (RVL2). This fund is designed to invest in up to 50 tech startups across Africa, offering training and support to founders and their teams. The most successful companies in RVL2 will be eligible for larger investments from Renew Capital Fund 1, the firm’s growth-stage investment fund.
