Nclude Fund closes with over $112M in commitments to back fintech in Africa and the Middle East

The Nclude Fund, advised by DPI Venture Capital, has closed with commitments of more than $112 million. DPI Venture Capital is the venture arm of Development Partners International, a London-headquartered private equity firm focused on Africa.

The fund invests in technology and fintech companies across Africa and the Middle East that can expand beyond their home markets. It writes cheques of $500,000 to $10 million, from seed to Series C, and has built a portfolio of 15 companies in fintech, fintech-enabled businesses and firms at the intersection of fintech and AI.

Ashley Lewis, Managing Partner at DPI Venture Capital, said financial inclusion is the core of the mission and that passing $112 million gives the fund the firepower to back founders as they grow into regional leaders. Limited partners were not named in the report.