Alitheia IDF Fund

Alitheia IDF (AIF) stands as 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



  • Over $40 million invested in 11 companies, with 88% women ownership.
  • Creation of nearly 2,000 jobs.
  • 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.

Group image of Chika's employees

AIF invests in businesses where women play a significant economic role in any of the following criteria:


Business is owned by a woman. Women founders or co-founders.


Women make up a significant part of senior leadership.


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.


Women are the major beneficiaries or consumers of an essential good or service.

Impact Numbers

1 mn
Women owned business
1 %
Women-led businesses in gender-focused fund
1 %
Jobs for women
1 %
Women in management
$ 1 mn
Invest funds
1 mn
Jobs for women (Portfolio traction)
1 mn
Local job creation of which 66% are for women
Women and girls with access to essential services

Portfolio Companies

Scroll to Top