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Since 2017, Picus Capital has backed 3 African startups across 4 disclosed funding rounds totaling $51.8M, most heavily in Nigeria and Health Tech.
Picus Capital is an early-stage technology investment firm founded in 2015 and based in Munich, Germany. The firm operates with a permanent evergreen capital structure, enabling long-term partnerships with exceptional founders across multiple global offices including Berlin, London, New York, and Singapore. Picus Capital has built a portfolio of over 200 companies and achieved an annual internal rate of return exceeding 40%, with notable exits including six unicorns and multiple acquisitions. Picus Capital has demonstrated significant investment activity in Africa, particularly in Nigeria, where it has backed health tech and fintech companies. The firm invests at Pre-Seed, Seed, and Series A stages, with typical check sizes ranging from $400,000 to $3 million. In Africa, Picus Capital has invested in companies including Reliance Health, a provider of employee health plans with telemedicine services, and Sudo, a fintech platform offering developer-first payment APIs. The firm's sector focus spans energy and climate, fintech, enterprise infrastructure, cybersecurity, generative AI, and healthcare, with a commitment to building category leaders through active operational support.
Data updated · Jul 29, 2026
Picus Capital has backed 3 African startups across 4 disclosed funding rounds tracked on Liners, totaling $51.8M since 2017.
Mostly Seed: 2 of its 4 tracked rounds are at that stage, followed by Series B (1).
Picus Capital's tracked rounds are concentrated in Nigeria (4).
Its tracked rounds lean toward Health Tech (2), Fintech (1), Telecom & Connectivity (1).
Picus Capital most often shares rounds with AAIC Investment (2 shared deals), Partech (2 shared deals), Tencent (2 shared deals).
Startups can reach out to Picus Capital via email at info@picuscap.com or through their website. A well-prepared pitch deck outlining the business model, market opportunity, and team is essential. Warm introductions are preferred but not mandatory.
Picus Capital operates with a long-term investment philosophy enabled by its permanent evergreen capital structure. The firm works closely with portfolio companies on key strategic decisions and operational challenges, aiming to become their closest partner in building successful global companies that challenge the status quo.