Moniepoint, a fintech unicorn based in Nigeria, was initially valued at $12.5 million when Oui Capital invested $150,000 in 2019, and it has since skyrocketed to a valuation of $1 billion after raising $110 million in October 2024.

This successful exit underscores the potential of early-stage investments in Africa's fintech sector, which remains a rarity in the continent's venture ecosystem.

Venture investments in Africa typically require a maturation period of 5 to 10 years, making Oui Capital's five-year wait for returns particularly noteworthy.

The firm currently operates with a diverse portfolio of 22 startups across two funds, typically investing up to $400,000 in seed-stage companies throughout Africa.

Exits in Africa's tech scene are uncommon, with only 143 out of nearly 3,000 venture deals resulting in exits since 2019, highlighting the challenges faced by startups in the region.

Oui Capital joins the ranks of other successful African investors like CRE VC and 4DX Ventures, who have also returned their first funds after backing unicorns.

At the time of Oui Capital's investment, Moniepoint, then known as TeamApt, was relatively unknown and primarily focused on financial products for banks.

Oui Capital was one of the earliest investors in Moniepoint, playing a crucial role in its growth and transition into a leading business banking and payments platform.

The recent funding round, led by Development Partners International, allowed Oui Capital to sell its shares, marking a significant milestone for the firm.

Oui Capital, an early-stage venture capital firm focused on Africa, has successfully returned its $4 million debut fund following a profitable exit from its investment in Moniepoint.

Tosin Enioluwadara, the co-founder and CEO of Moniepoint, acknowledged Oui Capital's strategic advisory support and investor introductions as vital to the company's success.

In 2022, Oui Capital launched its second fund, Mentors Fund 2, which closed at $12 million, significantly below its initial target of $30 million, with uncertain plans for future fundraising.