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Since 2019, MSA Capital has backed 11 African startups across 16 disclosed funding rounds totaling $318.4M, most heavily in Egypt and E-commerce & Retail.
MSA Capital is a global investment firm that focuses on private venture and growth assets in technology enabled sectors. According to its official materials, the firm was founded in 2014 and invests in innovative companies across markets worldwide. Public profiles describe MSA Capital as an independent venture capital and private equity firm managing over 1.5 billion dollars in assets. In Africa, MSA Capital has been an active venture investor between 2019 and 2026, participating in at least 16 funding rounds from seed through Series C. The firm has repeatedly backed companies at the seed and Series A stages, with selected exposure to later Series B and Series C rounds. Based on disclosed transactions, MSA Capital has invested across Egypt, Nigeria, Kenya and Ghana, with a particular concentration in Egypt. Its African portfolio spans sectors such as e commerce and retail, logistics and supply chain, fintech, travel and mobility and quick commerce. The firm’s African investments include backing Flextock, TradeDepot, Rabbit, PawaPay, WapiPay, Jetstream, Homzmart, NowPay, Autochek, Swvl and Thndr, alongside a network of regional and global co investors. These transactions reflect a focus on technology driven platforms that address logistics infrastructure, financial inclusion, consumer access and urban mobility across key African markets.
Data updated · Sep 5, 2026
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MSA Capital has backed 11 African startups across 16 disclosed funding rounds tracked on Liners, totaling $318.4M since 2019.
Mostly Seed: 9 of its 16 tracked rounds are at that stage, followed by Series A (3).
Companies MSA Capital has backed operate in Egypt (11), Nigeria (6), Côte d'Ivoire (3), and 19 more markets. Each figure counts the rounds behind companies serving that market, so a company operating in several markets counts in each of them.
Its tracked rounds lean toward E-commerce & Retail (5), Logistics & Supply Chain (4), Fintech (4), and 2 more sectors.
MSA Capital most often shares rounds with Foundation Ventures (5 shared deals), 4DX Ventures (4 shared deals), TLcom Capital (3 shared deals).
MSA Capital is a global investment firm that focuses on private venture and growth assets in technology enabled sectors. It invests in innovative companies from early to growth stages and manages a significant pool of institutional capital.
MSA Capital’s African portfolio includes companies such as Flextock, TradeDepot, Rabbit, PawaPay, WapiPay, Jetstream, Homzmart, NowPay, Autochek, Swvl and Thndr. These businesses operate across logistics, e commerce, fintech, mobility and quick commerce in markets like Egypt, Nigeria, Kenya and Ghana.
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