Development Partners International has announced the launch of DPI Venture Capital, which will target investments in early-stage, growth-orientated technology businesses across Africa.
DPI is an Africa-focused, multi-strategy private investment firm with over US$3 billion in assets under management and co-investments across three funds, targeting high growth, impact driven, and innovation-led companies. Since DPI was founded in 2007, its ADP funds have completed 33 investments and many exits across Africa.
The firm is now moving into VC with the launch of its new arm, which will be supported by the firm’s reach in over 43 African countries and its investments across nearly a dozen sectors, including technology driven businesses. It comes about as a result of a fund-restructuring transaction by which DPI began advising Nclude, a leading fintech fund in Egypt.
With the completion of that transaction DPI has taken over the investment advisory responsibilities of the fund, which since its establishment in March 2022 has invested over US$28 million across nine transactions including companies such as Paymob, Khazna, Flapkap, and Connect Money.
“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. The completion of the Nclude transaction is an opportunity to build on the success of our previous investments in technology led companies and will empower our investors to add exposure to highly innovative growth-orientated businesses,” Runa Alam, DPI co-founder and CEO, said.
Ashley Lewis, managing partner at DPI Venture Capital, said the African venture capital ecosystem was still underpenetrated.
“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,” she said.
