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  • Writer's pictureKelly Alica Liman

Top 6 VC Funds and Angel Investors in Uganda

The landscape of startups in Uganda reflects a diverse tapestry of ingenuity and ambition. Endowed with a burgeoning young population and an increasingly tech-savvy workforce, this East African nation has witnessed a surge in innovative ventures seeking to address local and global challenges. Central to the growth trajectory of these startups is the injection of capital from venture capital firms. Venture capital plays a crucial role in bridging the financing gap faced by early-stage startups, providing them with the necessary resources to scale their operations, develop innovative solutions, and penetrate new markets. In this article, we have compiled a comprehensive list of Venture Capital Firms and Angel Investors in Uganda that can help you spur growth in your company!




Find VCs and Angel Investors in Uganda
Find VCs and Angel Investors in Uganda

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Venture Capitalist Funds in Uganda


The venture capitalist funds below are actively looking for investment opportunities in diverse sectors and at different stages. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.



  • Year of Inception: 2016

  • Stage: Pre-Seed, Seed

  • Focus: Sector Agnostic

  • Notable Portfolio: Kwalito, Cresta, Western Uganda Cotton Co

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Iungo Capital is a prominent investment company that strategically focuses on encouraging impact-driven investments throughout East Africa and accelerating sustainable economic progress. With a noteworthy portfolio of 30 firms, including six investments in Kenya, 23 in Uganda, and one in Rwanda, the firm has gained recognition for its dedication to delivering vital working capital investments to small and medium-sized enterprises in the area. Notably, Iungo Capital places a strong emphasis on incorporating environmental, social, and governance (ESG) factors into its investment choices, encouraging its portfolio firms to conduct ethical and sustainable business operations. As part of its investment strategy, the company offers mezzanine financing, an uncommon kind of funding for expanding family companies in East Africa that closes a significant financial gap for firms in the region.



  • Year of Inception:

  • Stage: Seed, Series A

  • Focus: FinTech, Digital Infrastructure, Web 3.0

  • Notable Portfolio: -

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Equator Invest, a leading investment firm operating with operations across Africa, is dedicated to fostering sustainable economic development and impactful investments within the region. The firm's strategic focus on collaborating with financial institutions in Africa has greatly increased value and produced superior returns, demonstrating its dedication to bringing about positive change. Additionally, Equator Invest's commitment to promoting sustainable growth and innovation in Uganda's investment environment is demonstrated by its engagement in a number of industries, including the energy industry through its relationship with Equator Energy. Together with its emphasis on combining capital with capacity creation, the company's history of integrating talent to achieve greater scale and efficiency highlights its critical role in generating possibilities and promoting equitable economic growth in emerging nations.





  • Year of Inception: 2018

  • Stage: Seed, Series A

  • Focus: Fintech, Health, Transport and Logistics, Supply Chain, Insuretech, Energy, AgTech, EdTech, Tourism, Manufacturing, Media and Creative Arts

  • Notable Portfolio: Famunera, Flip Africa, Xente, Tripxio, Xente

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The 97 Fund, managed by Ortus Africa Capital, is an influential investment entity in Uganda that focuses on building and investing in high-growth early-stage companies. As part of its strategic approach, the fund has embraced a Venture Builder + Fund model, allowing it to help entrepreneurs and firms actively and directly by offering access to resources and finance as well as deep operational experience. Notably, The 97 Fund prioritizes influencing enterprises run by women and young people, generating employment opportunities, promoting sustainable economic growth, and raising additional funds for early-stage investments via a blended capital and co-investing approach. The 97 Fund's role as a major force behind promoting entrepreneurship and sustainable economic growth in Uganda is further cemented by its collaboration with The Innovation Village and the Mastercard Foundation as part of the Young Africa Works Program.



  • Year of Inception: 2021

  • Stage: Seed, Series A

  • Focus: Sector Agnostic

  • Notable Portfolio: Forna Health Foods, Equator Chocolate, Innovex

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Inua Capital is a cutting-edge investment company devoted to providing funding for small and medium-sized businesses in Uganda. Founded in 2021, the flagship Inua Impact Fund seeks to invest equity capital in more than 30 SMEs over the course of the following ten years, with a particular emphasis on patient development capital for businesses with funding requirements between $100,000 and $500,000. Notably, the fund places a high priority on gender balance, working to ensure that at least 30% of its investee firms are owned or run by women, and requiring all of its investees to adopt gender-inclusive policies. With a pioneering mission to contribute to Uganda's economic development and create a positive impact, Inua Capital's localized private equity investment approach positions it as a key player in accelerating the growth of Ugandan enterprises and driving sustainable, responsible, and profitable industry leaders in the region.





Angel Investors in Uganda


The Angel investors listed below are part of and represented by an Angel group or are active in Angel Platforms. As individual Angel Investors are hard to come by, these platforms are the best place to secure Angel financing.




The Uganda Business Angel Network (UBAN) is an essential part of Uganda's entrepreneurial ecosystem, providing a platform for high-net-worth individuals and seasoned entrepreneurs to invest in and support early-stage businesses and startups. UBAN plays a pivotal role in fostering entrepreneurship and innovation by facilitating connections between investors and promising ventures, thereby stimulating economic growth and job creation in Uganda. The network's investment approach is characterized by providing not only financial support but also mentorship, expertise, and valuable networks to the emerging businesses it supports. Through its activities, UBAN has significantly contributed to the development of a vibrant startup culture, the commercialization of innovative ideas, and the expansion of the entrepreneurial landscape in Uganda, positioning itself as a catalyst for sustainable economic development in the region.



  • Stage: Seed, Series A

  • Focus: Sector Agnostic

  • Contact

The Kampala Angel Investment Network (KAIN) is a pivotal platform in Uganda's entrepreneurial landscape, uniting innovators, entrepreneurs, and angel investors with the common goal of nurturing and realizing innovative ideas. With a focus on facilitating high-potential investment opportunities, KAIN provides expert guidance from seasoned investors to support ventures that align with their vision. Additionally, KAIN's role in championing the building of a robust entrepreneurial ecosystem is evident through its efforts to bring together a diverse network of local and international investors, entrepreneurs, and partners in the pursuit of sustainable economic development and impactful investments in the region. Through its strategic initiatives such as hosting Deal Days and Masterclasses, KAIN aims to further enhance knowledge and awareness about angel investment, inviting entrepreneurs and potential investors to join this exciting journey fostering entrepreneurship and belief in innovative ideas.







Closing Thoughts on VCs and Angel Investors in Uganda


Uganda presents a strong opportunity for entrepreneurs looking to obtain capital and get traction in the African market. Uganda's growing business scene tells a powerful story of opportunity, ingenuity, and resiliency. Uganda has a favorable environment for entrepreneurial development and innovation with its expanding investment landscape, unexplored market potential, supportive regulatory framework, access to people and resources, and prospects for social impact. The vital role that venture capital companies play in fostering the growth and success of startups is central to this story. They act as the lifeblood of the ecosystem, providing crucial financial resources and strategic assistance. By leveraging these advantages, startups can position themselves for success and contribute to the socioeconomic development of the country and the broader East African region.


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