How to apply to First Circle Capital as an African founder

TL;DR

First Circle Capital invests in Fintech companies at Pre-Seed and Seed, writes cheques of Not publicly disclosed, and takes applications through direct outreach to the team.

Who First Circle Capital is

First Circle Capital is a Pan-African investor headquartered in Casablanca, Morocco & Kampala, Uganda. Its stated focus is Fintech. The thesis, in the fund's own words: Seeding the next generation of fintech companies shaping the future of Africa.

On the ground, First Circle Capital operates as a Pre-Seed and Seed investor with an Africa focus described as "Pan-African (13+ investments across 7 countries)". The fund's co-founder & managing partner is Selma Ribica, alongside Agnes Aistleitner Kisuule (Co-founder & Managing Partner) and Ming S. Kwan (Head of Portfolio).

What they invest in

Stages: Pre-Seed and Seed
Sectors: Fintech
Cheque size: Not publicly disclosed
Geography focus: Pan-African / Yes -- Pan-African (13+ investments across 7 countries)

How to apply

First Circle Capital's application path is: "mailto:team@firstcircle.capital". This reads as direct outreach rather than a public form, which means the fund is more reachable through a warm introduction or a well-targeted cold message than through a portal. Selma Ribica (Co-founder & Managing Partner) is the name most associated with the fund publicly, and a specific, well-prepared message referencing why you fit their stated thesis is a better opener than a generic pitch blast. Check https://www.firstcircle.capital/ first in case a form or dedicated email address has since gone live.

Portfolio pattern

First Circle Capital's portfolio, as listed in their Trampoline fund page, includes:

Scale (Pan-African): Card-issuing infrastructure for fintechs
Credify (Pan-African): Digitising logistics and trade finance for SMEs
Pumpkn (Pan-African): Financing for SME agribusinesses
MNZL (Egypt): Asset-backed lending
TurnStay (Pan-African): Travel sector cross-border payments

That spread gives you a sense of what a real check from First Circle Capital has funded, not just what the thesis claims it funds.

Before you apply

Have these ready before you reach out:

Deck: Check your readiness first so you know where the gaps are
Metrics dashboard: Set up your metrics dashboard so you can show real traction, not slides
Cap table
A one-line description of what your company does
A short, specific note explaining why you fit their stated thesis, ready to send cold or through a warm intro

FAQ

Does First Circle Capital invest in Fintech?

Yes. Fintech is listed among First Circle Capital's stated sector focus areas.

What stage does First Circle Capital typically write cheques at?

First Circle Capital invests at Pre-Seed and Seed, with cheque sizes of Not publicly disclosed.

Do you need a warm intro to apply to First Circle Capital?

First Circle Capital's application path is direct outreach rather than a public form, so a warm introduction generally carries more weight than a cold message, though it is not stated as a hard requirement.

Does First Circle Capital invest outside Pan-African?

First Circle Capital's Africa focus is described as "Pan-African (13+ investments across 7 countries)". Check the full fund profile for the exact geographic boundaries before you apply.

Is First Circle Capital a remote or in-person fund?

First Circle Capital's format is listed as Remote / Hybrid.