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Why PE firm Alitheia is banking on women in Africa
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African women-founders find it incredibly hard to raise capital from private markets, and even banks, a gap that “gender-lens” funds like Alitheia IDF exist to bridge. Alitheia IDF was co-founded by Tokunboh Ishmael and Polo Leteka in 2015 as a private equity fund to back the often marginalized founders. Through the $100 million Alitheia IDF, currently the biggest “gender-lens” fund in Africa, it backs the often ignored women-led or women-focussed businesses.
Alitheia IDF, a venture capital firm co-founded by Tokunboh Ishmael, is prioritizing investing in businesses that serve women or are founded by women in Africa. The firm, based in Los Angeles, launched a $20 million pre-seed and seed-stage fund called Alitheia IDF to support African startups in sectors like cleantech, supply chain, ag-tech, and edtech. The fund aims to address the gender gap in access to capital for women-led businesses. Ishmael believes that diverse teams and leadership bring better corporate governance, broader perspectives, and enhanced innovation. The fund plans to provide not only funding but also mentorship, strategic growth guidance, and access to networks.
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