Oui Capital Returns Debut Fund with $8M Exit from Moniepoint Stake
TLDR
- Oui Capital, an early-stage African venture firm, has returned its $4 million debut fund following the partial sale of its stake in Moniepoint
- The VC firm sold some shares during Moniepoint’s $110 million Series C funding round in October 2022, led by Development Partners International
- Co-founded by Olu Oyinsan and Francesco Andreoli, Oui Capital has invested in 22 startups across two funds
Oui Capital, an early-stage African venture firm, said it has returned its $4 million debut fund following the partial sale of its stake in Moniepoint, a Nigerian fintech unicorn. The firm initially invested $150,000 in Moniepoint (formerly TeamApt) during its seed round, which has now generated an $8 million return.
The firm sold some shares during Moniepoint’s $110 million Series C funding round in October 2022, led by Development Partners International. With the fund fully repaid, any future gains from its Moniepoint stake will be pure profit for investors. This milestone underscores the potential of early-stage African fintech investments, as exits remain rare across the continent.
Oui Capital, co-founded by Olu Oyinsan and Francesco Andreoli, has invested in 22 startups across two funds, with a focus on seed-stage African ventures. It raised $12 million for its second fund, Mentors Fund 2, and plans to explore raising a third fund later this year.
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Points clés à retenir
Oui Capital’s early investment in Moniepoint highlights the opportunity in Africa’s fintech ecosystem. Exits remain rare in the region, with only 143 out of nearly 3,000 venture deals since 2019 leading to liquidity events. However, Moniepoint’s trajectory shows that strategic investments in high-growth startups, coupled with well-timed exits, can deliver strong returns, even in underdeveloped exit markets. Smaller funds, like Oui Capital’s $4 million debut, are inherently easier to return, especially with disciplined portfolio construction. By investing at a $12.5 million valuation and exiting during Moniepoint’s growth into a $1 billion unicorn, Oui Capital demonstrates the potential of long-term value creation in African tech. As the ecosystem matures, similar early-stage opportunities in sectors like B2B commerce and digital payments could lead to more such successes.
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