Alitheia Capital

Alitheia Capital is a Lagos-based investment firm founded in 2007 by Tokunboh Ishmael and Jumoke Akinwunmi, with over $250 million in assets under management across multiple funds. The firm's flagship vehicle, the Alitheia IDF Fund, closed at $100 million in 2021, making it the largest gender lens investing fund in Africa. The fund is a joint venture between Alitheia Capital and IDF Capital, and it targets growth-stage companies with gender-diversified management teams.

The LP base for Alitheia IDF is institutional and diverse: the European Investment Bank (EIB), U.S. International Development Finance Corporation (DFC), Soros Economic Development Fund, FinDev Canada, and others. The fund won the Environmental Finance Impact Fund of the Year award in 2024, which reflects both financial performance and measurable impact outcomes.

Alitheia operates across the full capital spectrum, which is unusual for an Africa-focused firm. Beyond the IDF Fund, the firm manages uMunthu I and II (in partnership with Goodwell Investments, collectively channeling $50+ million into Sub-Saharan African SMEs) and previously managed the Alitheia Clean Energy Fund (ACEF), which is now fully vested. This multi-fund structure means Alitheia can back companies from seed through growth, and the team has genuine operational experience supporting portfolio companies across different stages and sectors.

The gender lens is not a marketing label. The fund's thesis is that companies with gender-diversified leadership deliver stronger financial returns and more sustainable growth, and the portfolio reflects this conviction with investments across fintech, agribusiness, manufacturing, logistics, healthcare, and e-commerce.