# AfricInvest: portfolio, investments and team > AfricInvest is a private equity based in Tunisia. 6 investments on record, 2 in the last 12 months, latest May 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/africinvest (Millionrounds; every figure on the page links to its filing or article) Tunisia · [Investor](https://millionrounds.com/investors) # AfricInvest Last cheque observed May 2026; 6 cheques on record. Email Private equity Deploying now Last fund $30M, May 2021 Seed Series A Series B B2C Cosmetics Goods Follow AfricInvest and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fafricinvest) Deploying now **50%** of best year **2** **cheques in 12 months**, 6 on record Since the last cheque **183** days **00** hrs **00** min **00** sec Median round **$13M** Rounds led **3 of 6** Sole investor **1 rounds** Mostly in **Nigeria, 33%** Pitch AfricInvest ## AfricInvest highlights - 01 2 cheques in the last 12 months - 02 Mostly Series A and Growth: 60% of its rounds - 03 Sole investor in 1 rounds, median $4.0M ## What they do > AfricInvest, private equity firm in Africa From their own website - **Type:** Private equity (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Seed Series A Series B Growth - **Sectors:** B2C Cosmetics Goods - **Based in:** Tunis, Tunisia - **Cold pitches:** Not accepted ## The record Every round we can evidence, newest first **6 appearances** - **2026** 1 round - **May** **[BFREE](https://millionrounds.com/company/bfree)** Growth · NG · Disrupt Africa **Undisclosed** *Led* - **2025** 4 rounds - **Dec** **[Nawah Scientific](https://millionrounds.com/company/nawah-scientific)** Series A · EG · Disrupt Africa **$23M** With 6 others - **Sept** **[Kredete](https://millionrounds.com/company/kredete)** Series A · NG · Disrupt Africa **$22M** *Led* - **Apr** **[PayTic](https://millionrounds.com/company/paytic)** Seed · MA · Disrupt Africa **$4.0M** *Led* - **Feb** **[Oze](https://millionrounds.com/company/oze)** GH · Disrupt Africa **Undisclosed** With 6 others - **2019** 1 round - **Nov** **[Heetch](https://millionrounds.com/company/heetch)** Series B · FR · TechCrunch **$4.0M** Sole investor An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **3 named** RM **Rafik Mzah** Director i Filing they signed RR **Rajan Rosick** Director i Filing they signed TL **Teemulsingh Luchoa** Director i Filing they signed We also hold **9** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law **$543M** gross assets of its funds Oct 2026 **Exempt** reporting adviser venture or small private funds - **Legal name:** Africinvest Global Manco - **SEC number:** CRD 315905 ## What they claim to have backed From their own portfolio page (on their website) **0** of 1 we have independently watched raise Same Team Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded. ## Companies it bought Acquisitions by the firm itself **Groupe ISGA** **Undisclosed** Nov 2021 **Sicopa** **Undisclosed** Jan 2008 Latest fund on file **$30M** raised in May 2021 From its SEC filing. Nothing newer is on file yet. ## The cheque Seed Series A Series B Median round joined **$13M** the round, not its cheque Alone, median **$4.0M** Led 3 of 6 rounds **50%** - **Sole investor:** 1 rounds - **Last cheque:** May 2026 Rounds by stage said on their site - Series A said *2* - Growth said *1* - Seed said *1* - Series B said *1* Cheques by month Led Joined Dec 2023 Nov 2026 **Pitching AfricInvest?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Recently backed The latest companies AfricInvest put money into. [**BFREE** May 2026](https://millionrounds.com/company/bfree)[**Nawah Scientific** $23M · Dec 2025](https://millionrounds.com/company/nawah-scientific)[**Kredete** $22M · Sept 2025](https://millionrounds.com/company/kredete)[**PayTic** $4.0M · Apr 2025](https://millionrounds.com/company/paytic) ## Quick answers about AfricInvest ### What does AfricInvest invest in? AfricInvest invests most often at Series A and Growth (60% of the rounds on record), in sectors such as B2C, Cosmetics and Goods. ### How active is AfricInvest? 6 investments on record, 2 of them in the last 12 months, and it led 3. The most recent was in May 2026. ### What has AfricInvest invested in recently? Its most recent investments on record: BFREE (Growth, May 2026), Nawah Scientific (Series A, Dec 2025) and Kredete (Series A, Sept 2025). ### How big are AfricInvest's cheques? The median round it joins is $13M. ### Does AfricInvest lead rounds? Yes: it led 3 of its 6 investments on record (50%). ### Where does AfricInvest invest? Most of the companies it backs are in Nigeria (33%), Egypt (17%) and Morocco (17%). ### Is AfricInvest investing now? Yes: it is actively investing, with 2 investments in the last 12 months. ### What kind of investor is AfricInvest? AfricInvest is a private equity firm based in Tunis, Tunisia. ## Raising now? 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