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Since 2021, Alitheia IDF has backed 4 African startups across 5 disclosed funding rounds totaling $38.1M, most heavily in Zambia and Fintech.
Alitheia IDF is Africa's first and largest gender-lens private equity fund, managing $100 million in capital. Co-founded in 2014 by Tokunboh Ishmael and Polo Leteka, the fund is managed by two women-led firms: Alitheia Capital, headquartered in Lagos, Nigeria, and IDF Capital, based in Johannesburg, South Africa. The fund identifies, invests in, and grows SMEs led by gender-diverse teams across the continent. Alitheia IDF invests primarily in growth-stage companies across six African countries: Nigeria, South Africa, Ghana, Zambia, Zimbabwe, and Lesotho. The fund focuses on sectors including fintech, cybersecurity, e-commerce and retail, and artificial intelligence and analytics. Recent investments include Lupiya, a digital lending platform in Zambia; Seamfix, a digital identity solutions provider in Nigeria; Sweepsouth, a home services platform in South Africa; and Jetstream Africa, an AI-powered incident reporting system in Ghana. The fund has deployed over $75 million across its portfolio, creating approximately 2,000 direct jobs and over 850,000 indirect jobs. Central to Alitheia IDF's strategy is leveraging gender diversity as a driver of superior financial and social returns. The fund's portfolio demonstrates significant impact, with 73 percent of portfolio companies women-owned and 54 percent having women on their boards. This approach aligns with broader development goals including gender equality, climate resilience, and digital transformation across African economies.
Data updated · Mar 27, 2026
Alitheia IDF has backed 4 African startups across 5 disclosed funding rounds tracked on Liners, totaling $38.1M since 2021.
Mostly Series A: 2 of its 5 tracked rounds are at that stage, followed by Private Equity (1).
Alitheia IDF's tracked rounds are concentrated in Zambia (2), Nigeria (1), South Africa (1), and 1 more country.
Its tracked rounds lean toward Fintech (2), Cybersecurity (1), Services & Marketplaces (1), and 1 more sector.
Alitheia IDF most often shares rounds with German Investment Corporation (2 shared deals), Inoks Capital (2 shared deals), Michael & Susan Dell Foundation (1 shared deal).
Alitheia IDF's portfolio includes Lupiya, a digital lending platform in Zambia; Seamfix, a digital identity solutions provider in Nigeria; Sweepsouth, a home services platform in South Africa; and Jetstream Africa, an AI-powered incident reporting system in Ghana.
Alitheia IDF uses a gender-lens investing strategy, identifying and supporting SMEs led by gender-diverse teams. The fund believes that gender diversity, combined with good governance and operational improvements, drives superior financial returns and tangible social impact for African communities.