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Since 2021, JAM Fund has backed 4 African startups across 6 disclosed funding rounds totaling $202.6M, most heavily in E-commerce & Retail.
JAM Fund is a venture capital firm that invests in early stage technology companies. The fund is led by Tinder co founder Justin Mateen and is described by multiple reputable profiles as a solo GP venture vehicle backing visionary and underestimated founders. Public investor databases consistently list JAM Fund as based in the United States, with a strong focus on technology driven businesses. In Africa, JAM Fund has participated in at least six funding rounds across seed, Series B, and Series D stages, reflecting a willingness to invest from early to later growth phases. Its recorded investments include backing Wasoko and Tushop in Kenya, mPharma in Ghana, and Koinz in Egypt, with activity concentrated between March 2021 and March 2022. These rounds span e commerce and retail as well as health tech, highlighting JAM Fund’s interest in technology enabled distribution and healthcare solutions serving mass market consumers. Across these African deals, JAM Fund has often invested alongside other venture firms such as 4DX Ventures, Golden Palm Investments, Novastar Ventures, Social Capital, and Tiger Global. This co investment pattern indicates a collaborative approach where JAM Fund partners with both regional and global investors to support scaling companies in Kenya, Ghana, and Egypt.
Data updated · Sep 11, 2026
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JAM Fund has backed 4 African startups across 6 disclosed funding rounds tracked on Liners, totaling $202.6M since 2021.
Mostly Seed: 3 of its 6 tracked rounds are at that stage, followed by Series D (2).
Its tracked rounds lean toward E-commerce & Retail (4), Health Tech (2).
JAM Fund most often shares rounds with 4DX Ventures (4 shared deals), TO Ventures (2 shared deals), Golden Palm Investments (2 shared deals).
Confirmed African portfolio companies include Wasoko, Tushop, mPharma, and Koinz. These businesses operate in essential goods distribution, fast grocery delivery, pharmacy based healthcare, and customer loyalty and ordering solutions, respectively.
In the African deals listed, JAM Fund has invested alongside firms such as 4DX Ventures, Golden Palm Investments, Novastar Ventures, Social Capital, Tiger Global, and others. This indicates that JAM Fund often co invests with both regional and global venture capital partners when backing African startups.
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