Why we’re watching: Iyinoluwa Aboyeji, known simply as “E,” is among the most prominent African startup founders and investors, and he’s known for directly challenging the global development community. The Fund for Africa’s Future aims to address development challenges through early stage venture capital investing.

Leadership: Iyinoluwa Aboyeji, general partner.
Staff: 18.
$: $30 million assets under management in 2021.
HQ: Lagos, Nigeria.
Tidbit: Last year, five African tech startups achieved “unicorn” status (meaning they are valued above $1 billion), showcasing the growing African startup scene in which Fund for Africa’s Future plays. Two of the five are associated with Aboyeji: He co-founded Andela and was CEO at Flutterwave.
Follow: Rumbi Chakamba and Catherine Cheney.

Analysis: Silicon Valley tech titans and donors tend to be skeptical of the traditional global development community, preferring to do things their own way. That philosophy extends to this growing asset management firm focused on Africa and run by a prominent Nigerian whose bachelor’s degree included development studies. Aboyeji recently shared this on LinkedIn: “We are a global asset manager that believes capital from Africans and friends of Africa- not cold and stoic foreign owned and controlled development finance institutions sitting in London, Brussels or Washington DC - must take responsibility for funding an African future.” With growing assets — $30 million (up from $600,000 in 2017, according to the firm) — and amid a fast-growing African VC market, the role of Fund for Africa’s Future in challenging the dominant development narrative may become more visible. — RK.

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