Future Africa

Future Africa is a Lagos-based early-stage venture firm founded by Iyinoluwa "Iyin" Aboyeji, the co-founder of both Andela and Flutterwave. The firm writes small, early cheques into pre-seed and seed companies across Africa, and it's one of the most prolific investors on the continent by deal volume, with 100+ companies across 10 African countries.

Fund II deployed $9.7 million across 131 investments (including follow-ons) in 85 companies, with an average initial cheque of $54,000 and an average follow-on of $110,000. The fund reported a 123% IRR and 2.49x MOIC through 15 priced-up rounds, with portfolio companies collectively raising $347 million in follow-on funding from investors including Sequoia, Tiger Global, Softbank, and IDG. 44% of portfolio companies were accepted into global accelerators like Y Combinator and Techstars. The firm started Nigeria-focused (85% of early investments) but has evolved to a pan-African mandate, with roughly 50% of recent investments made outside Nigeria.