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Aruwa Capital Management

Public data, unclaimed profile

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

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Describe your need: the target list shows, for each source of capital, why it fits and which deals prove it.

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Investment thesis

Criteria published by the fund, recorded and checked by Invest Matching.

Investment ticket
500 k$ – 3 M$
Instruments
Equity
Preferred sectors
Healthcare, Agribusiness, Manufacturing, Financial services, Energy*, Digital health*
Target geographies
Nigeria, Ghana

* added from its deals

Stages (stated by the fund and from its deals)
SeedSeries AGrowth

Reference deals

Recent public deals: they say better than a thesis what the fund actually signs.

Yikodeen Company Limited

June 2026 · Nigeria
GrowthUndisclosed 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 · Nigeria
Seed2 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 · Nigeria
Series 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 · Nigeria
Growth1.5 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 · Nigeria
Seed3 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 · Nigeria
Growth2 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 · Nigeria
GrowthUndisclosed 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 · Nigeria
GrowthUndisclosed 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

In short

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.