About Black Founders Fund
Black Founders Fund is a venture capital firm founded in 2020. As of Apr 2024, Black Founders Fund has invested in 69 companies. It primarily invests in Grant (prize money) round in Nigeria based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to FinTech and Consumer. Most recently it participated in the $***** Seed round of Tangent A lot of funds co-invest with Black Founders Fund, with names like Syndicate Room sharing a substantial percentage of its portfolio.Key Metrics
Black Founders Fund's List of Top Investments
Black Founders Fund has a portfolio of 69 companies. Their most notable investments include Buupass and Asilimia.Their portfolio spans across Nigeria, United States, Kenya and 9 more locations. They have invested in Enterprise Applications, FinTech, Consumer and 22 other sectors, across stages such as Grant (prize money), Seed and 1 more. Here is the list of top investments by Black Founders Fund:
1. Buupass
App-based platform that provides ticket booking services for travelers. The platform enables users with buses, flights, hotels, and more. Users can book tickets providing relevant information including destination, date of travel, and more. Their apps are available on Android devices.
Key facts about Buupass
- Founded Year: 2017
- Location: Nairobi (Kenya)
- Stage: Seed
- Total Funding till date: $2.94M
- Employee Count: 55 as on Jul 31, 2026
- Investors: Artha India Ventures, Five Two Five and 13 Others
- Latest Funding Round: Seed, Jul 10, 2025, $*****
- Highlight: Editors' Pick
2. Asilimia
Provider of digital financial management and embedded finance solutions. It helps businesses digitize bookkeeping, invoicing, payments, inventory management, and access to financial services, enabling better financial visibility and credit readiness. It enables businesses to streamline operations, monitor cash flow, process digital payments, and build financial records that improve access to working capital.
Key facts about Asilimia
3. Eden
Online platform to book home service providers. It provides a tech-enabled service that puts home chores on autopilot. Users can tell about their home needs and the platform will provide a gardener to complete all home tasks on behalf of the owner. Their app also allows users to monitor their status & can provide feedback where necessary. Their app is available for iOS and Android devices.
Key facts about Eden
- Founded Year: 2019
- Location: Lagos (Nigeria)
- Stage: Seed
- Total Funding till date: $1.4M
- Employee Count: 77 as on May 31, 2026
- Investors: LocalGlobe, Musha Ventures and 9 Others
- Latest Funding Round: Seed, Oct 08, 2022, $*****
- Highlight: Editors' Pick
4. Stears
Online platform with data-driven insights. It provides users with a platform for data and research reports. Its features include insight and data collection tools for businesses, and financial and policy professionals.
Key facts about Stears
- Founded Year: 2014
- Location: Lagos (Nigeria)
- Stage: Seed
- Total Funding till date: $3.9M
- Employee Count: 55 as on Jul 31, 2026
- Investors: MaC Venture Capital, Serena Ventures and 4 Others
- Latest Funding Round: Seed, Oct 11, 2022, $*****
5. Eversend
Eversend provides money transfer services using blockchain technology. Allows users to transfer money to Mobile Money and bank accounts. It allows access through USSD channels. Also offers a premium account that allows access to cryptocurrencies, travel insurance, personal loans and & wealth management. Provides a multi-currency wallet that supports USD, EUR, NGN, KES, UGX, RWF and GBP.
Key facts about Eversend
- Founded Year: 2017
- Location: Paris (France)
- Stage: Series A
- Total Funding till date: $1.17M
- Employee Count: 39 as on Jul 31, 2026
- Investors: PPE CAPITAL, Inclusive Fintech 50 and 5 Others
- Latest Funding Round: Grant (prize money), Sep 06, 2022, $*****
- Highlight: Editors' Pick
Black Founders Fund's Year-on-Year Investment Trends
Black Founders Fund has invested in 69 companies over the last 6 years, with an average of 13 new investments annually in the last 5 years. Its most recent first time investment was in Tangent and most recent follow-on round was in Zanifu.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 1 | 0 | 1 |
2023 | 1 | 2 | 3 |
2022 | 63 | 0 | 63 |
2021 | 2 | 0 | 2 |
2020 | 2 | 0 | 2 |
Black Founders Fund's Investments by Stage
Black Founders Fund has made 64 investments in Grant (prize money) stage with an average round size of $99.2K, 4 investments in Seed stage with an average round size of $1.6M and 1 investment in Unattributed stage with an average round size of $82.5K.Stage of entry | No. of Investments |
|---|---|
Grant (prize money) | 64 |
Seed | 4 |
Unattributed | 1 |
Note: We have considered here, only first round of investments
Black Founders Fund's Investments by Sector
Black Founders Fund has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech, Consumer, Vertical SaaS and HealthTech. Notably, it has invested in 58 Tech companies, 39 Enterprise (B2B) companies, 35 Consumer (B2C) companies and at least 30 companies focusing on Software.Sector | No. of Investments |
|---|---|
Enterprise Applications | 26 |
FinTech | 21 |
Consumer | 19 |
Vertical SaaS | 11 |
HealthTech | 8 |
Others | 69 |
Note: We have considered here, only first round of investments
Black Founders Fund's Investments by Geography
Black Founders Fund has made most investments in Nigeria (18), followed by United States where it has made 13 investments.Country | No. of Investments |
|---|---|
Nigeria | 18 |
United States | 13 |
Kenya | 12 |
South Africa | 5 |
United Kingdom | 5 |
Others | 16 |
Note: We have considered here, only first round of investments
Black Founders Fund's recent investments
Black Founders Fund has not made any investment in 2026 so far.Here are the most recent investments by Black Founders Fund:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 18, 2024 | United Kingdom | Seed | 9570 | [+6] | |
Aug 21, 2023 | Kenya | Seed | 6971 | ||
Jun 21, 2023 | United States | Unattributed | 6047 | - | |
Feb 13, 2023 | Kenya | Seed | 1178 | [+10] | |
Dec 14, 2022 | United Kingdom | Seed | 6349 | [+3] |
Co-investors of Black Founders Fund
Over the past 6 years, 191 investors have co-invested in Black Founders Fund's portfolio companies. This includes funds and angels.
- Invested before Black Founders Fund: Techstars, Future Africa and 109 others have invested in rounds before Black Founders Fund. There are 6 companies where Techstars has invested before Black Founders Fund and 4 companies where Future Africa has invested before Black Founders Fund.
- Top Co-investors of Black Founders Fund: 20 investors entered a company along with Black Founders Fund. These include investors like Syndicate Room (1 company).
- Invested after Black Founders Fund: A total of 60 investors have invested in Black Founders Fund's portfolio after their investments. Top Investors include Renew Capital (4 companies), Ajim Capital (3 companies) and Expert DOJO (3 companies).
