Development Partners International (DPI) launched DPI Venture Capital on Thursday to invest in early-stage, growth-oriented technology companies in Africa. DPI’s expansion of its investment strategy to support innovative startups that contribute to the continent’s expanding middle class is marked by this strategic move into the venture capital sector.
DPI venture capital and Nclude Innovation fund
The launch of DPI Venture Capital coincides with DPI completing a fund restructuring transaction. Through this transaction, DPI has taken on the role of investment advisor for the Nclude Innovation Fund, the largest fintech-focused fund in Africa.
Since its inception in March 2022, Nclude has invested over $28 million in nine transactions, backing companies such as Paymob, Khazna, Flapkap, and Connect Money.
The fund is supported by major Egyptian banks like Banque Misr, National Bank of Egypt, and Banque du Caire, alongside financial services investors, including e-Finance Investment Group, EBC, and Mastercard.
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Runa Alam, DPI Co-Founder, and CEO stated, “By establishing DPI Venture Capital, DPI has fulfilled its long-standing ambition to provide investors with a range of investment strategies in Africa. The platform provides our limited partners with the opportunity to invest in Africa’s most exciting companies from their very beginning.”
Leadership and vision
DPI Venture Capital is led by Managing Partner Ashley Lewis, who brings 20 years of experience in finance and social ventures, including roles at Goldman Sachs and Accion Venture Lab. Mohamed Aladdin, a general partner based in Cairo, also leads the team, bringing extensive experience in venture capital across the Middle East and Africa.
Ashley Lewis commented, “The African venture capital ecosystem is still underpenetrated and there is a fantastic opportunity for Africa-focused fund sponsors to make a significant impact on the ecosystem. DPI Venture Capital is excited to welcome the Nclude team, portfolio companies, and LPs to DPI and to expand on their experience and close relationships with Egypt’s leading investors and tech visionaries.”
DPI Venture Capital aims to empower entrepreneurs across Africa and the Middle East by channeling international capital and expertise into emerging markets. The platform supports ventures from seed to sale, focusing on sectors such as fintech, health access, logistics, and supply chains. It helps companies adapt to fast-growing markets and solve meaningful challenges.