# Retail investors in Africa (2026 list) > 33 retail investors in Africa, 67% active in the last 12 months. Led by Plug and Play, FJ Labs, RiverPark Ventures. Ranked by what they funded. Source: https://millionrounds.com/lists/retail-investors-in-africa (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Retail investors in Africa Updated 7 November 2026 Firms observed backing a retail company in Africa in the last two years, wherever the firm is based. [See all 33 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fretail-investors-in-africa)The top 25 **33** investors on the list No change this week **346** cheques in 12 months *-37%* against the market **$5M** median round they joined *-37%* against the market median **67%** wrote a cheque in 12 months **55%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (21) - 1 [Plug and Play](https://millionrounds.com/fund/plug-and-play) *Deploying now* Accelerator · United States **1,561** **$5M** median round **Nov 2026** last seen - 2 [FJ Labs](https://millionrounds.com/fund/fj-labs) *Deploying now* VC firm · United States **849** **$11M** median round **Oct 2026** last seen - 3 [RiverPark Ventures](https://millionrounds.com/fund/riverpark-ventures) *Deploying now* VC firm · United States **115** **$6.7M** median round **Aug 2026** last seen - 4 [Launch Africa](https://millionrounds.com/fund/launch-africa-ventures) *Deploying now* VC firm · Mauritius **96** **$1.1M** median round **Nov 2026** last seen - 5 [Garage Capital](https://millionrounds.com/fund/garage-capital-2) *Deploying now* VC firm **88** **$5M** median round **Oct 2026** last seen - 6 [LAUNCH](https://millionrounds.com/fund/launch) *Deploying now* Accelerator · United States **82** **$5M** median round **Oct 2026** last seen - 7 [LoftyInc Capital](https://millionrounds.com/fund/loftyinc-capital) *Deploying now* VC firm · Nigeria **73** **$2.3M** median round **May 2026** last seen - 8 [Presight Capital](https://millionrounds.com/fund/presight-capital) *Deploying now* VC firm · United States **49** **$10M** median round **Sept 2026** last seen - 9 [Circle](https://millionrounds.com/fund/circle) *Deploying now* Hedge fund · United States **13** **$14M** median round **Feb 2026** last seen - 10 [Renew Capital](https://millionrounds.com/fund/renew-capital) quiet VC firm · Ethiopia **10** **$5M** median round **Aug 2025** last seen - 11 [Al Mada Ventures](https://millionrounds.com/fund/al-mada-ventures) *Deploying now* VC firm · Morocco **7** **$12M** median round **Nov 2026** last seen - 12 [E4EAfrica](https://millionrounds.com/fund/e4e-africa) *Deploying now* VC firm · South Africa **7** **$5M** median round **Oct 2026** last seen - 13 [WITAMAX](https://millionrounds.com/fund/witamax) *Deploying now* VC firm · Morocco **6** **$1.6M** median round **Apr 2026** last seen - 14 [Attijariwafa Ventures](https://millionrounds.com/fund/attijariwafa-ventures) *Deploying now* VC firm · Morocco **3** **$5M** median round **Jun 2026** last seen - 15 [First Circle Capital](https://millionrounds.com/fund/first-circle-capital) *Deploying now* VC firm · Morocco **3** **$2M** median round **Feb 2026** last seen - 16 [Maroc Numeric Fund](https://millionrounds.com/fund/maroc-numeric-fund) *Deploying now* VC firm · Morocco **3** **$1.4M** median round **Apr 2026** last seen - 17 [UM6P Ventures](https://millionrounds.com/fund/um6p-ventures) *Deploying now* VC firm · Morocco **3** **$4M** median round **Feb 2026** last seen - 18 [GHARAGE Ventures](https://millionrounds.com/fund/gharage-ventures) quiet Corporate VC · Singapore **2** **$4.8M** median round **Apr 2025** last seen - 19 [Oliver Merkel](https://millionrounds.com/fund/oliver-merkel) *Deploying now* Angel **2** **$7.9M** median round **Nov 2025** last seen - 20 [Azur Innovation Management](https://millionrounds.com/fund/azur-innovation-management) *Deploying now* VC firm · Morocco **1** **$1.6M** median round **Apr 2026** last seen - 21 [Cash Plus Ventures](https://millionrounds.com/fund/cash-plus-ventures) quiet VC firm **1** **$1.1M** median round **Dec 2024** last seen - 22 [Kalys Ventures](https://millionrounds.com/fund/kalys-ventures) quiet VC firm · Morocco **1** **$1.1M** median round **Dec 2024** last seen - 23 [Foreign, Commonwealth and Development Office (FCDO)](https://millionrounds.com/fund/foreign-commonwealth-and-development-office-fcdo) *Deploying now* Investment firm **1** **$15M** median round **Oct 2026** last seen - 24 [Harambeans Prosperity Fund](https://millionrounds.com/fund/harambeans-prosperity-fund) *Deploying now* VC firm **1** **$1.6M** median round **Apr 2026** last seen - 25 [Ikemori Venture Support (IVS)](https://millionrounds.com/fund/ikemori-venture-support-ivs) *Deploying now* VC firm **1** **-** median round **Jan 2026** last seen **8 more on this list** All 33 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fretail-investors-in-africa) ## The Newest Cheques Rounds this list's investors joined most recently - **6** Nov **[Water Ledger Global](https://millionrounds.com/company/water-ledger-global)** Other *With* [Launch Africa](https://millionrounds.com/fund/launch-africa-ventures) - **4** Nov **[Lazarus AI](https://millionrounds.com/company/lazarus-ai)** $43M *With* [Plug and Play](https://millionrounds.com/fund/plug-and-play) - **4** Nov **[Journify](https://millionrounds.com/company/journify)** Series A · $12M *Led by* [Al Mada Ventures](https://millionrounds.com/fund/al-mada-ventures) - **3** Nov **[Carryt](https://millionrounds.com/company/carryt)** Round *With* [Plug and Play](https://millionrounds.com/fund/plug-and-play) - **28** Oct **[Quickmart](https://millionrounds.com/company/quickmart)** Other · $15M *With* [Foreign, Commonwealth and Development Office (FCDO)](https://millionrounds.com/fund/foreign-commonwealth-and-development-office-fcdo) - **28** Oct **[Viatik](https://millionrounds.com/company/viatik)** Seed · $600K *With* [Plug and Play](https://millionrounds.com/fund/plug-and-play) ## Stages This Year 329 rounds - Seed **24%** - Venture **22%** - Series A **20%** - Pre-seed **9%** - Debt **6%** - Other **19%** ## What They Backed Sectors, last 12 months - AI **137** - Fintech **45** - Healthcare **22** - Big Data & Analytics **19** - Aerospace & Space **14** - Financial Services **13** ## Cheques by Quarter Led Joined 152 Q1 25 145 Q2 25 151 Q3 25 132 Q4 25 112 Q1 26 94 Q2 26 72 Q3 26 23 Q4 26 The last bar is the quarter still running. ## Lists Like This - [AI investors in North America 3,859](https://millionrounds.com/lists/ai-investors-in-north-america) - [AI investors in Europe 2,283](https://millionrounds.com/lists/ai-investors-in-europe) - [Fintech investors in North America 1,309](https://millionrounds.com/lists/fintech-investors-in-north-america) - [Big Data & Analytics investors in North America 1,094](https://millionrounds.com/lists/big-data-investors-in-north-america) - [AI investors in Asia 1,047](https://millionrounds.com/lists/ai-investors-in-asia) - [Biotech investors in North America 1,001](https://millionrounds.com/lists/biotech-investors-in-north-america) - [Energy investors in North America 864](https://millionrounds.com/lists/energy-investors-in-north-america) - [Robotics investors in North America 848](https://millionrounds.com/lists/robotics-investors-in-north-america) - [Construction investors in North America 791](https://millionrounds.com/lists/construction-investors-in-north-america) [All investor lists *→*](https://millionrounds.com/lists) ## Reading for founders in retail and fashion - Lovemarks The Future Beyond Brands Kevin Roberts · 2004 3.86 from 1,497 ratings on Goodreads Retail and fashion Company building About the book "Ideas move mountains, especially in turbulent times. Lovemarks is the product of the fertile-iconoclast mind of Kevin Roberts, CEO Worldwide of Saatchi & Saatchi. Roberts argues vociferously, and with a ton of data to support him, that traditional branding practices have become… On AmazonListen on Audible - Fashion entrepreneurship Michele Granger, Tina Sterling · 2002 On 15 reading lists at Open Library Retail and fashion Company building On AmazonListen on AudibleOn Open Library - Retail Gangster: The Insane, Real-Life Story of Crazy Eddie Gary Weiss · 2022 3.90 from 1,120 ratings on Goodreads Retail and fashion Company building About the book A biography of the spectacular rise and fall of Eddie Antar, better known as "Crazy Eddie," whose home electronics empire changed the world even as it turned out to be one of the biggest business scams of all timeBack in the fall of 2016 we heard the news about the passing of… On AmazonListen on Audible - The Everything Store: Jeff Bezos and the Age of Amazon Brad Stone · 2013 4.13 from 78,706 ratings on Goodreads Retail and fashion Company building About the book The definitive story of Amazon.com, one of the most successful companies in the world, and of its driven, brilliant founder, Jeff Bezos. Amazon.com started off delivering books through the mail. But its visionary founder, Jeff Bezos, wasn't content with being a bookseller. He… On AmazonListen on Audible More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&industry=retail). As an Amazon Associate we earn from qualifying purchases. ## Quick answers about retail investors in Africa ### Who are the most active retail investors in Africa? By cheques observed, the most active are Plug and Play, FJ Labs, RiverPark Ventures, Launch Africa and Garage Capital. ### How many retail investors in Africa are there? 33 are on record. 67% made an investment in the last 12 months and 55% have led a round. ### Which stages do retail investors in Africa back? Of the rounds with a named stage in the last 12 months, mostly Seed (34%) and Series A (28%). ### How big are the rounds retail investors in Africa join? The typical (median) round among the leading investors here is $5M. ### Which sectors do retail investors in Africa back most? In the last 12 months, mostly AI, Fintech and Healthcare. ### Which retail investors in Africa lead the most rounds? Al Mada Ventures (6 led), E4EAfrica (3 led) and Plug and Play (2 led). ### Where are retail investors in Africa based? Among the most active, most are based in Morocco (8), the United States (6) and Mauritius (1). ### What have retail investors in Africa invested in recently? Recent rounds include Water Ledger Global (Other, Nov 2026, with Launch Africa), Lazarus AI (Nov 2026, with Plug and Play) and Journify (Series A, Nov 2026, with Al Mada Ventures). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)