Alitheia IDF Fund
Alitheia IDF (AIF) is a groundbreaking $100 million gender-lens fund, co-founded in 2014 by Tokunboh Ishmael and Polo Leteka (IDF Capital, South Africa), alongside a seasoned team based in Lagos and Johannesburg. AIF represents the inaugural and largest fund in Africa dedicated to investing in growth-oriented SMEs, distinguishing itself as the largest gender lens fund on the continent. With a proactive approach, AIF focuses on identifying and supporting women founders and co-founders, leveraging overlooked sectors and businesses for maximum impact.
AIF invests in high growth SMEs led by gender diverse teams. Currently, the fund focuses on investments in the target countries of Nigeria, Ghana, South Africa, Zambia, and Lesotho.
AIF is especially drawn to overlooked SMEs: often women-led (but not exclusively) where we are able to actively pursue and invest and nurture high-growth SMEs to their full potential predictably – before exiting and realising value for investors
Alitheia IDF's Social Performance Report
Alitheia IDF, Africa’s largest gender-lens private equity fund, leads transformative impact investing by targeting gender equality, climate resilience, and digital transformation. The fund’s Social Performance Report highlights how 73% of its portfolio companies are women-owned, and 54% have women on their boards, contributing to SDG 5 (Gender Equality). Alitheia IDF integrates climate-conscious practices into its investments, addressing pressing environmental challenges. Companies like Psaltry International and Rentoza exemplify alignment with SDG 12 (Responsible Consumption) and SDG 13 (Climate Action). With digital transformation as a cornerstone, Alitheia IDF tackles systemic challenges through innovative investments in technology. Companies like Lupiya and Jetstream Africa illustrate the fund’s focus on driving inclusion and efficiency, aligning with SDG 9 (Industry, Innovation, and Infrastructure) and SDG 10 (Reduced Inequalities). Together, Alitheia IDF’s investments demonstrate how gender, climate, and technology intersect to unlock Africa’s vast potential for inclusive, sustainable development.
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Impact
- Over $50 million invested in 12 companies, with 75% women ownership.
- Over 2,000 jobs created.
- Positive impact on hundreds of thousands of women.
Investment Criteria
AIF is sector agnostic but prioritizes investments in agribusinesses, consumer goods and services, and essential services.
AIF invests in businesses where women play a significant economic role in any of the following criteria:
Ownership
Business is owned by a woman. Women founders or co-founders.
Leadership
Women make up a significant part of senior leadership.
Employment
Majority of the employees are women.
Value Chain
Women are significant participants in the value chain as producers (e.g., smallholders), processors, distributors or retailers.
Consumption
Women are the major beneficiaries or consumers of an essential good or service.
Impact Numbers
Portfolio Companies
