Munich and Nairobi based Uncap has introduced Unconventional Capital, a $33 million fund that offers non-dilutive, revenue-based financing to early-stage small and medium-sized enterprises (SMEs) throughout Africa.
Unconventional Capital will work with major partners, such as SAIS – an agritech platform created with the support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH), as well as O-Farms a circular agriculture project of Bopinc with the support of the Ikea Foundation. These partnerships will allow Unconventional Capital to leverage the company’s experience and connections to provide more value to SMEs in high-impact industries like technology and agriculture.
The fund is being launched with support from prominent global organizations, including the Bill & Melinda Gates Foundation and the Bayer Foundation.
This marks a new chapter for Uncap as it continues to support economic empowerment in Africa with the launch of Unconventional Capital.
The recently announced standalone SaaS platform, Level, will continue to offer simple and effective investment management solutions for funders and accelerators across Africa.
The fund will be co-led by Esther Ndet, the current Investment Principal at Uncap, and Franziska Reh, the CEO of Uncap, who will both take on the roles of Managing Partners.
Esther Ndeti, Managing Partner, about Unconventional Capital: “Launching Unconventional Capital is a pivotal moment for us, and I’m honored to step into the role of Managing Partner. Over the past three years, we’ve championed innovative, alternative financing for businesses across Africa. This fund will address capital gaps for early-stage SMEs as they scale, deepening our impact. I’ve seen firsthand the tenacity and brilliance of our team, and I’m thrilled to continue this journey alongside them. As we launch the fund, we’re not just aiming to support more businesses but to set new standards in the industry for innovation and inclusion. Here’s to the future – one that’s even brighter and bolder.”
