Alitheia IDF

Alitheia IDF is Africa's first and largest gender-lens private equity fund, co-founded by Tokunboh Ishmael, Managing Director of Alitheia Capital (Nigeria), and Polo Leteka of IDF Capital (South Africa), with the fund formally structured as a joint venture between both firms. The fund reached its final close of $100 million in December 2021, backed by the European Investment Bank, FinDev Canada, the Soros Economic Development Fund, and other development finance institutions. The original directory lists Lagos, Nigeria as the city, but the fund is legally headquartered in Mauritius with operating offices in Lagos and Johannesburg. Alitheia IDF invests growth capital in small and medium-sized enterprises across Nigeria, South Africa, Ghana, Zambia, Zimbabwe, and Lesotho, targeting businesses that are owned, led, or significantly served by women, operating in sectors where women are prominent as producers, distributors, or consumers. Core investment sectors include agribusiness, consumer goods, essential services, health, education, and financial services. As of 2024, approximately 73% of portfolio companies are women-owned, and 54% have women on their boards. The fund's approach to gender-lens investing has created a framework now recognized internationally and replicated by other African investors. Beyond its original investments in ReelFruit and Jetstream Africa, the fund's portfolio includes SweepSouth, Psaltry International, Rentoza, Skld, Lupiya, Club Travel Corporate, Wemy, Ivili Loboya, Seamfix, and HausAfrica.