UI Charitable Advisors is a philanthropic planning firm that makes giving easier and more effective for donors.
Renew Capital is a pan-Africa early-stage venture capital firm investing in some of Africa’s most promising entrepreneurs.
Africa is at a pivotal moment in its history. As home to the world’s youngest population and a continent undergoing rapid urbanization, it is poised for an entrepreneurial boom. Yet, in 2022, African startups received less than 1% of global venture capital—despite representing one of the most dynamic and undertapped markets in the world.
This gap highlights both the challenges and immense opportunities in Africa’s innovation ecosystems. It’s not just about funding; it’s about creating the right infrastructure and systems that enable entrepreneurs to thrive.
Africa by the Numbers
Youthful Energy: By 2050, Africa’s working-age population will reach 1.56 billion people, accounting for 85% of global workforce growth.
Urban Powerhouses: By 2100, Africa will house 13 of the world’s 20 largest cities, driving innovation and demand for scalable solutions.
Tech on the Rise: Africa leads globally in mobile penetration growth, with 1.36 billion subscriptions in 2023.
Entrepreneurial Spirit: Over 70% of young Africans plan to start their own business within five years, signaling a deep well of innovation.
The Role of the Private Sector
Africa’s private sector is crucial to addressing the continent’s challenges, from job creation to sustainable development. Startups across fintech, agritech, healthtech, and energy are already solving some of the continent’s most pressing issues—but their potential remains vastly untapped.
Empowering these ecosystems offers not just economic growth, but also an opportunity to align innovation with global sustainability goals and local needs.
MPost (Kenya, Rwanda) enables mobile phone users to transform their phones into unique mobile postal boxes with patented technology, offering seamless access to postal services.
From Giving to Investing
Historically, Western engagement with Africa has been through aid and philanthropy—an industry worth $40 billion annually. The next phase of engagement must shift toward private sector investment: building startup ecosystems that allow African entrepreneurs to fuel their own growth.
At Renew Capital, we work across 14 African countries to activate startup ecosystems by training founders, hosting events, advising on policies, and building robust investment pipelines. We then invest early-stage capital into tech and tech-enabled startups. We believe that by investing in promising entrepreneurs and supporting their growth with management development and market access, we will help companies capture significant market share, modernize industries, create jobs, and realize returns through acquisitions or public offerings.
Using a UI DAF to Invest
Renew Capital has a diverse group of investors across the U.S., many of whom use their UI Charitable Donor Advised Funds (DAFs) to invest. This allows investors to enjoy the tax benefits of DAFs while supporting Africa’s entrepreneurial future. To get started, please reach out to UI Charitable at impact@uicharitable.org or contact Renew Capital at renew@renewcapital.com.
Roam Electric (Kenya) is revolutionizing mobility in East Africa with cost-effective, climate-smart electric buses and motorcycles, designed specifically for emerging markets.
The Startup Boom Is Coming
The conditions for Africa’s startup boom are already in place: a youthful, mobile-savvy population, rapidly growing cities, and a growing infrastructure base. What’s needed now is capital to help channel this potential into scalable, impactful growth. Africa’s entrepreneurial revolution is happening—let’s ensure the right conditions are in place to help it thrive.
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UI Charitable Advisors is a philanthropic firm with impact investments in North America, South America, Africa, Asia, and Europe. These include recoverable grants, loans, and equity investments. Since 2017 UI Charitable has created many tools for philanthropists to use for high impact grants and impact investing. This includes investments through our Donor-Advised Funds (DAFs) with an average size over three times the national average.
Renew Capital is a pan-Africa early-stage venture capital firm with a presence in 14 countries. For over 10 years, Renew Capital has developed a unique investment model that allows us to invest in smaller deals (ranging from $50K to $4M) that are hard for traditional venture capital funds to access. Renew Capital has a diverse group of investors including 200+ high-net-worth families, family offices and foundations, many of whom use donor-advised funds (DAFs) to invest. Our two venture capital funds - an accelerator fund and a follow-on fund - allow LPs to invest in African startups at the pre-Series A stage.
To learn more, visit renewcapital.com or reach out to our team at renew@renewcapital.com.
