P1 Ventures, a pan-African venture capital firm, has successfully closed its first $50 million institutional fund, securing backing from African conglomerates, family offices, and global VC partners, including the World Bank’s IFC. The firm now manages over $60 million in assets and continues to pursue its bold investment thesis of supporting “Made in Africa” companies that can scale globally.
With seasoned advisors such as Index Ventures’ Bernard Dalle and former Uber CBO Emil Michael, P1 Ventures has cemented its position as a key player in Africa’s venture ecosystem. The firm recently co-invested alongside Accel in Nuitee’s $48 million Series A round, marking its largest deal to date.
Contrarian Investment Strategy: Betting on Africa’s Future
While global venture capital in Africa declined for the second consecutive year, P1 Ventures is doubling down on high-growth, capital-efficient startups across the continent.
“We have strong conviction that billions of dollars in value will be created by global companies that are ‘Made in Africa’,” said Mika Hajjar, Managing Partner at P1 Ventures. “These entrepreneurs are not just solving local problems—they’re creating models the rest of the world can learn from.”
Unlike traditional investors who concentrate on familiar markets such as Nigeria, Kenya, South Africa, and Egypt, P1 Ventures is expanding into Francophone Africa and beyond. The firm’s AI-powered data tools and 10,000-company Pan-African database enable it to identify high-potential startups early, track emerging trends, and provide hands-on support to portfolio companies.
Why Africa? Fintech, AI, and the Global Tech Shift
Africa’s mobile-first population is driving world-leading fintech adoption, leapfrogging traditional banking with mobile money and stablecoins. Additionally, AI automation is addressing productivity and skills shortages, making industries like hospitality, logistics, and healthcare more efficient and accessible.
The continent’s startup ecosystem is maturing beyond copying global models, instead exporting African-built innovations to international markets.
“Built in Africa for the World” – P1 Ventures’ Global AI Bet
P1 Ventures is now focusing on African companies that aren’t just adapting global models but creating technology with worldwide impact.
Several portfolio companies illustrate this vision:
- Nuitee (Morocco): An AI-powered hotel booking platform working with Hilton and Sabre, founded by Silicon Valley-trained entrepreneur Med Benmansour.
- Gameball (Egypt): A gamified loyalty platform with 3,000+ customers globally, led by repeat founder Ahmed Khairy.
- Salus (South Africa): A one-click software deployment solution created by ex-Konga CTO Andrew Mori, who previously built a $20M revenue company.
- StakPak (Egypt): An AI copilot for DevOps engineers, designed by US/Europe-trained engineer George Fahmy to address Africa’s talent gap.
P1 Ventures’ growing portfolio reflects Africa’s shift from importing ideas to exporting tech solutions—a trend that could define the next decade of global innovation.