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At a late investor confluence , former - stage African investorOui Capitalinformed limited partners that it had return its $ 4 million debut fund follow the sales event of some parcel in the patronage banking platformMoniepoint .
The African fintech unicorn has so far proven to be a standout investiture for five - year - old Oui Capital . When it launch its first fund , it invested $ 150,000 in the Nigeria - found company , an other stakes that has since generated an $ 8 million return — enough to pay back the fund .
Specifically , last October , when Moniepointraised $ 110 million in support at a $ 1 billion valuationin a Series C round led by Development Partners International , Oui Capital trade some of its shares into the deal ; now , with its fund repaid , any next returns will be virgin profit for its investors .
It ’s a rare feat for a untried VC house — many globally give out to return their first investment company — and even rare in Africa ’s venture ecosystem . Still , it underscores how lucrative some other - microscope stage bets , peculiarly in fintech , can be on the continent . Oui Capital joins other pan - African investor likeCRE VCand4DX Venturesthat have render their first stock after back other unicorns , such asAndelaandFlutterwave , according to two citizenry conversant with investor dealings on the continent .
TechCrunch contacted Oui Capital for comment , and the firm corroborate the tidings .
Moniepoint , previously make out as TeamApt , was n’t a family name in 2019 when Oui Capital first considered it . At the meter , the company in the first place built financial products and software for itself and banks .
Oui Capital , establish byOlu OyinsanandFrancesco Andreoli , was among its earliest investors and also one of the few to stomach the outfit ’s pivot to Moniepoint , a business banking and payments platform that has since become Nigeria ’s largest merchandiser merchant bank .
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“ They have been with us through the stages , from seeking Cartesian product - market fit to getting to product , ” Tosin Eniolorunda , Moniepoint conscientious objector - founder and CEO , said of Oui Capital in a 2021video . “ Olu [ managing partner at Oui Capital ] has been helpful in advisory ; we verbalise through strategy , governance , and cardinal matters that affect the party . They have also been helpful in our investing campaigns , from innovate potential investors to sometimes just think around our tale and positioning … ”
Exits in Africa ’s technical school prospect remain rarefied , with only 143 out of 2,971 speculation dealssince 2019 lead to exits , agree to The Big Deal . Most startups are still in their former or development stage — far from the maturity needed for important going . Unlike developed market with robust M&A and IPO options , Africa ’s tech ecosystem is still grow , leaving fewer inauguration in an exit - quick stance .
On the other hand , speculation investments typically take five-10 years to senesce , so many African - focused VC business firm still expect returns . For Oui Capital , that wait direct five years . When the firm joined Moniepoint ’s source round , the party was valued at a $ 12.5 million , as revealed in an investor report seen by TechCrunch .
Anecdotally , lowly funds are easier to return due to their sizing . Datafrom Cambridge Associates , which builds and manage investment portfolio for institutional investors , bucks up this trend .
But more importantly , Oyinsan credits his investment trust ’s portfolio construction for the firm ’s traction to date . “ It ’s not just about fund size — it ’s about what you enthrone in , your ledger entry monetary value , how much equity you own , how much you endow , and when you determine to exit , ” he tells TechCrunch .
Other startups in Oui Capital ’s portfolio includeDuplo , which digitizes payment flows for African B2B enterprises;Maad , a B2B tocopherol - commerce political program for fast - move consumer goods ; andMatta , a B2B market place for chemicals , from its first investment trust , Mentors Fund 1 .
The investor , with 22 startups across two funds , write checks of up to $ 400,000 for seed - stage startups across Africa .
In 2022 , Oui Capital launched a 2d fund , Mentors Fund 2 . While the early - stage firminitially aim $ 30 million , it close at $ 12 million , according to Oyinsan ( Eniolorunda is an investor in the 2d investment company ) . He also share that while the fund has no program to step on it into fundraising due to its inviolable position , it might raise a third store later this class .
