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Commerce Ventures stands out in Africa's investment landscape, specializing in Seed and Series B funding for frontier market startups. Their portfolio boasts market leaders like Smile Identity and Duplo, showcasing their commitment to scaling tech innovation across the continent.

Type
Venture Capital

Commerce Ventures' Portfolio in Africa

Commerce Ventures has made over 3 notable investments in African startups. Their most recent investment was in Conduit, announced on May 28th, 2025.
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Commerce Ventures' Investment activity in Africa

With over $60.3M invested in African startups, their latest investment was a Series A round in Conduit, announced on May 28th, 2025, closing at $36M.

Here are some of their investments in Africa:

RoundStartupLocationDateAmount Raised
Seed
Duplo
NigeriaAug 31, 2022$ 4,300,000
Series A
Conduit
KenyaMay 28, 2025$ 36,000,000
Series B
Smile Identity
NigeriaFeb 15, 2023$ 20,000,000
Seed
VendEase
NigeriaMar 23, 2021$ 125,000
Seed
VendEase
NigeriaMar 23, 2021$ 125,000
Seed
VendEase
NigeriaMar 23, 2021$ 125,000
Seed
VendEase
NigeriaMar 23, 2021$ 125,000
Seed
VendEase
NigeriaMar 23, 2021$ 125,000

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Commerce Ventures' Investment Distribution in Africa.

Commerce Ventures' currently has Startuup investments spread across the following location(s)

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