Aruwa Capital Management, a Lagos based female founded and led early-stage growth equity and gender lens investment fund, is pleased to announce the successful close of its first institutional fund, which was oversubscribed, surpassing its target of $20 million. The fund’s first institutional and anchor investor is Visa Foundation, followed by other investors such as Mastercard Foundation Africa Growth Fund, Nyala Venture, backed by Financial Sector Deepening Africa Investments and leading family businesses from Africa, Europe and the United States.
Aruwa Capital was founded in 2019 by Adesuwa Okunbo Rhodes who has leveraged more than a decade of investment banking and private equity experience from leading global organisations such as J.P.Morgan. Adesuwa started Aruwa to address the investment gap that women led enterprises face in Africa.
Through its investment strategy, the Fund aims to create more sustainable and scalable pathways for economic growth and inclusion in the region. The Fund will invest $500,000 to $2.5 million in women focused small and growing businesses in Nigeria and Ghana, targeting investments in critical sectors such as healthcare, fintech, renewable energy, and essential consumer goods.