At this year’s Lagos Tech Fest, Alitheia Capital’s Chief Operations Officer & Operating Principal, Yewande Adewusi joined other industry leaders and founders to discuss the evolving landscape of venture capital, the importance of structured investment strategies, and the necessity of market-driven business models. Representing Alitheia Capital, she highlighted key industry shifts, the role of investors in value creation, and the imperative for founders to build resilient businesses that can withstand economic fluctuations.
A Shift Toward Disciplined Impact Investing in Africa
Yewande emphasized that the venture capital ecosystem is experiencing a course correction, moving away from speculative funding towards structured, high-impact investments. She noted that while early-stage funding remains essential, businesses seeking investment must demonstrate revenue, traction, and tested business models.
“You must have a fundable business—one with great potential, revenue, and a customer base. It’s not just about ideas anymore, investors are now prioritizing structured businesses with clear growth trajectories.”
She pointed out that investors are becoming more selective, hiring operators like herself to conduct in-depth assessments and ensure that businesses have strong financial structures, leadership teams, and market strategies before receiving funding.
The Investor’s Role Beyond Funding
Alitheia Capital’s approach goes beyond simply providing capital. Yewande stressed that true value creation requires hands-on support from investors.
“We’re not just handing over funds and walking away. We work closely with our portfolio companies—having monthly calls, sitting with them, and ensuring they have the right structures in place.”
She explained that mismanagement of funds is a key risk in venture capital. Without proper financial oversight, startups can struggle, leading to poor investor returns.
“If a founder tells me they don’t have a CFO, that’s a red flag. We ensure that our investments are properly managed by embedding financial discipline and strategic guidance into the businesses we support.”
Dollar-Denominated Investments and Market Expansion
One of the pressing challenges for investors in emerging markets is currency volatility. Yewande explained how Alitheia Capital’s strategy now encourages businesses receiving dollar investments to generate revenue in dollars.
To help businesses achieve this, Alitheia Capital supports market expansion through partnerships and access to international customers, encouraging founders to explore export opportunities or scalable cross-border operations.
“We don’t tell businesses to expand blindly. Exporting is hard. Entering a new market is hard. But when done strategically, it allows businesses to maintain sustainable growth and attract the right investors.”
The Future: Gender-Smart Investing, Climate Resilience, and Digital Transformation
Yewande closed her session by reaffirming Alitheia Capital’s commitment to impact investing and gender-smart investing. With a new fund in the pipeline, the firm is integrating its core gender-lens approach with climate resilience and digital transformation to drive sustainable business models.
“We’ve always supported resilient businesses. Now, we’re doubling down on the intersection of gender, climate, and digital transformation—because these factors will define the next generation of successful companies.”
As Lagos Tech Fest brought together industry leaders, founders, and investors, Yewande’s insights offered a pragmatic perspective on building long-term, investable businesses in Africa’s evolving tech ecosystem.
Read more on the Alitheia IDF Fund, Africa’s first and largest gender lens fund here.