Fund manager (General Partner), AVCA member, gender-lens impact fund in Nigeria. Assets under management: ≈ USD 60m.
At a glance
Based on observed investment behaviour: 8 recorded deals
- Investor type
- Private equity or venture capital fund (inferred, not verified)
- Capital type
- Private equity (inferred from deals)
- Observed ticket
- 1.5 M$ – 11 M$, median 2 M$ (5 disclosed amounts)
- Stated ticket : 500 k$ – 3 M$
- Countries
- Nigeria (8)
- Activities
- Leather and footwear (2), Asset management and markets (1), Food processing (1)
- Instruments
- Equity (8)
- Stages
- Growth (5), Seed (2), Series A (1)
- Recent activity
- 2 deals in 12 months, latest Jun 2026
Stated thesis versus observed behaviour
- Sectors: 75% of its deals within its stated thesis
- Countries: 100% of its deals within its stated thesis
- Ticket: 80% of its deals within its stated thesis
Does this fund fit your project?
Describe your need: the target list shows, for each source of capital, why it fits and which deals prove it.
Find my matchesCriteria published by the fund, recorded and checked by Invest Matching.
Recent public deals: they say better than a thesis what the fund actually signs.
Yikodeen Company Limited
June 2026 · NigeriaGrowthUndisclosed amountEquityManufacturingFollow-on
Activity : Leather and footwear
Instrument : Follow-on from Aruwa Capital Fund II, sole investor in the round (amount not disclosed) · Vehicle : Aruwa Capital Fund II
Safety and industrial footwear manufacturing (about 2,500 pairs per day).
Source : innovation-village.comN2 · Cross-checked (2+ outlets) · Other sources : Africa Private Equity News
Sika Financial Group
June 2026 · NigeriaSeed2 M$EquityFinancial servicesLead
Activity : Asset management and markets
Instrument : Seed extension round · Vehicle : Aruwa Capital Fund II
Sika builds clearing, settlement, liquidity and market-data infrastructure for cross-border financial flows across Africa and emerging markets.
Why they invested
- Address infrastructure gaps in cross-border financial markets
- Support a company building critical infrastructure for African financial flows
- Back a high-potential company serving emerging markets
Source : avca.africa
Koolboks
September 2025 · NigeriaSeries A11 M$EquityEnergyCo-Invest
Co-investor alongside KawiSafi Ventures
Activity : Productive use: solar cooling and pumping
Koolboks, a Nigeria- and France-based cleantech startup that builds solar-powered freezers and sells to businesses, has raised $11 million in Series A funding to expand its cooling-as-a-service business across Africa.
Co-investors FFEM
Source : techcabal.com
Yikodeen Company Limited
May 2025 · NigeriaGrowth1.5 M$EquityManufacturingLead
Activity : Leather and footwear
Instrument : Investment · Vehicle : Aruwa Capital Fund II
Yikodeen manufactures safety footwear for the oil and gas, manufacturing, construction and utilities sectors.
Why they invested
- Support local manufacturing in Nigeria
- Significantly increase production capacity
- Strengthen local supply chains
- Support a high-growth manufacturing business
Source : punchng.com
MDaaS Global
March 2024 · NigeriaSeed3 M$EquityDigital healthLead
Activity : Labs and imaging
MDaaS Global , a pioneering healthtech company and operator of Nigeria’s fastest-growing healthcare network – BeaconHealth Diagnostics, raised a USD 3 M Pre-Series A round of financing.
Co-investors Newtown Partners, Ventures Platform
Source : weetracker.com
Fastizers Food and Confectionery Limited
June 2023 · NigeriaGrowth2 M$EquityAgribusinessLead
Activity : Food processing
Instrument : Investment
Fastizers manufactures snacks and confectionery products and distributes them nationwide in Nigeria.
Why they invested
- Support a locally founded and female-led business
- Finance production and distribution expansion
- Promote import substitution
- Back the growth of a local consumer-goods manufacturer
Source : pevcang.org
AgroEknor International
November 2021 · NigeriaGrowthUndisclosed amountEquityAgribusinessLead
Activity : Honey, botanicals and natural ingredients
Instrument : Investment
AgroEknor processes and exports dried hibiscus flowers and operates a wellness brand with an integrated Nigerian value chain.
Why they invested
- Support a high-growth Nigerian agricultural exporter
- Develop an integrated value chain
- Increase non-oil exports
- Support international market access
Source : aruwacapital.comN1 · Primary source
Wemy Industries Limited
October 2019 · NigeriaGrowthUndisclosed amountEquityManufacturingLead
Activity : Home and personal care
Instrument : Investment
Wemy manufactures disposable personal-hygiene products for women and infants, including sanitary pads, maternity pads and baby diapers.
Why they invested
- Support an established Nigerian industrial manufacturer
- Finance increased production capacity
- Support domestic and regional expansion
- Invest in products with a positive impact on women
Source : aruwacapital.comN1 · Primary source
Aruwa Capital Management invests tickets ranging from 500 k$ to 3 M$, across the following sectors: Healthcare, Agribusiness, Manufacturing, Financial services, Energy, and Digital health, in the following areas: Nigeria and Ghana. Check in 30 seconds whether your company fits these criteria.