Oui Capital, an early-stage African investor founded by Olu Oyinsan and Francesco Andreoli, has made significant strides in the venture capital landscape. The firm, known for its strategic investment approach, recently celebrated a monumental achievement with the successful exit of Moniepoint, a business banking and payments platform. This exit not only marked a significant return on investment but also underscored Oui Capital’s adeptness in navigating the dynamic startup ecosystem in Africa.
Launched with an initial fund known as Mentors Fund 1, Oui Capital began its journey with $4 million, focusing on seed-stage startups across the continent. The firm writes checks up to $400,000 for these startups, supporting them at a critical phase of their development. With a portfolio that now includes 22 startups across two funds, Oui Capital has proven its ability to identify and nurture promising ventures.
The firm's investment in Moniepoint, amounting to $150,000, has yielded an impressive $8 million in returns. This remarkable return has effectively paid back the entirety of Mentors Fund 1, highlighting the success of Oui Capital's investment strategy. The firm's managing partner, Olu Oyinsan, attributes this success to careful portfolio construction and strategic decision-making.
“It’s not just about fund size—it’s about what you invest in, your entry price, how much equity you own, how much you invest, and when you decide to exit,” – Olu Oyinsan
This philosophy has been integral to Oui Capital's operations. The firm's involvement goes beyond mere financial backing; it extends to providing advisory services on strategy and governance. Moniepoint has benefited significantly from this support, with Tosin Enioluwadara acknowledging the crucial role played by Oyinsan and his team.
“Olu [managing partner at Oui Capital] has been helpful in advisory; we talk through strategy, governance, and key matters that affect the company. They have also been helpful in our investment campaigns, from introducing potential investors to sometimes just thinking around our narrative and positioning…” – Tosin Enioluwadara
In 2022, Oui Capital launched its second fund, Mentors Fund 2, with aspirations of raising $30 million. While the fund closed at $12 million, the firm remains unfazed by the shortfall. The strong position stemming from the Moniepoint exit has allowed Oui Capital to strategically pace its fundraising efforts without haste. Nevertheless, discussions about possibly raising a third fund later this year are on the horizon.
Oui Capital's portfolio reflects a diverse array of innovative startups such as Duplo, Maad, and Matta. Each of these startups benefits from the firm's expertise and network, which are essential for scaling operations and achieving market success. The firm's ability to nurture these startups is a testament to its robust investment framework and hands-on approach.
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