Innovest Afrika targets global capital access for African startups
Founder and Chief Executive Officer of Innovest Afrika, Femi Moito, has said the organisation is focused on bridging the funding gap for African startups by connecting them to global capital,
Founder and Chief Executive Officer of Innovest Afrika, Femi Moito, has said the organisation is focused on bridging the funding gap for African startups by connecting them to global capital, mentorship and markets.
Moito, who disclosed this in an interview, said the Houston-based nonprofit venture platform was established to accelerate innovation among founders of African descent and position them for international investment opportunities.
“Our mission is straightforward, to help African founders access the resources, networks and capital required to transition from early-stage ventures to sustainable, investable businesses,” he said.
He explained that the platform delivers its mandate through flagship initiatives, including the Innovest Ignite Accelerator, an eight-week virtual programme designed to prepare startups for investment by strengthening their business models and execution capacity.
According to him, the accelerator combines structured learning with mentorship from global industry experts and investors across Africa, Europe and the United States, culminating in a physical demo day where startups pitch to investors.
Moito noted that the programme has already been held in Nigeria, Ghana, South Africa and Boston, with plans underway to expand to Kenya, Rwanda and Egypt within the year.
To further address funding constraints, he said the organisation operates a dual model, connecting startups to global venture capital firms while also investing directly through its Innovest Catalyst Fund.
“We are not just facilitators; we are active investors. This ensures promising startups have access to early-stage funding immediately after the programme,” he said.
Providing insight into its impact, Moito revealed that since 2024, the platform has supported over 70 startups and engaged more than 1,000 entrepreneurs, with participating ventures collectively raising over $5 million in follow-on funding.
He added that more than 30 per cent of the startups secured investment within six months of completing the programme.
On partnerships, he said collaboration with the African Business Roundtable, supported by the Pan-African Private Sector Trade and Investment Committee (PAFTRAC), is expanding access to capital, mentorship and strategic networks across the continent.
He also highlighted a collaboration with Babson College, which provides accelerator participants with executive education content to strengthen their capacity to build scalable businesses.
Speaking on Africa’s startup ecosystem, Moito said it is “maturing rapidly,” driven by stronger talent, improved support structures and rising investor interest, although dependence on foreign capital remains a concern.
He projected sustained growth over the next decade, with countries such as Nigeria, Kenya, Egypt and South Africa expected to consolidate their positions as key innovation hubs.
“Fintech continues to dominate, but there is growing momentum in renewable energy, climate tech and healthtech,” he said.
Moito identified limited access to patient capital as the biggest challenge facing African entrepreneurs, stressing that macroeconomic stability, policy consistency and reduced investment risks are critical to attracting long-term funding.
He added that stronger collaboration between governments and the private sector would be essential in creating enabling environments for innovation.
Advising entrepreneurs, Moito urged founders to focus on solving real local problems with scalable solutions backed by strong business fundamentals.
“Success in Africa requires resilience, adaptability and a long-term mindset,” he said.
