Goodwell Investments and Alitheia Capital have announced the first closing of their uMunthu II fund, which focuses on investing in early and growth-stage SMEs in Africa, with an emphasis on women-led firms. The fund aims to support SMEs that improve access to essential sectors such as financial inclusion, digital inclusion, mobility and logistics, energy, healthcare, education, clean drinking water, and sanitation for underserved communities. The investment seeks to address the gap in access to affordable basic goods and services in Africa by backing local entrepreneurs who offer tailored solutions to pressing needs. The fund also intends to expand its portfolio and attract new investors to support its mission. Currently, only 15% of venture capital funding goes to women-led companies, and uMunthu II aims to actively seek out and support women-driven enterprises.

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