Aruwa Capital Management is a Lagos-based, female-founded and led growth equity and impact investment firm applying a gender-lens strategy to invest in established small to lower-mid-market companies in Nigeria and Ghana. It backs rapidly growing, women-led or women-focused businesses across healthcare, financial services, consumer goods, and renewable energy.
Their most common stage is series-a (53% of deals). Average disclosed round size is $7.0M (across 13 rounds with reported amounts).
Portfolio
10
Fund Size
$20M
Top Stage
Series A
Last 12 Mo
1
Team
Adesuwa Okunbo Rhodes
Founder & Managing Partner
Aminat Salako
Senior Investment Associate
Ayooluwa Aseweje
Investment Associate
Nofan Obieromah
Investment Associate
Oluwatosin Olasoji
Portfolio Associate
Kusumi Said
EA to the Founder
Adesola Sotande-Peters
Dotun Sulaiman
Hannah Subayi
Ramatoulaye Diallo
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
| Company | Round | Amount | Date |
|---|---|---|---|
 Sika | Seed | $2M | Jun 2026 |
 OmniRetail | Series A | $20M | Apr 2025 |
 Koolboks | Series A | $11M | Jan 2025 |
| OmniRetail | Series A | $20M | Jan 2025 |
| MMDaaS Global | Seed | $3M | Mar 2024 |
 Taeillo | Seed | $2.5M | Dec 2022 |
| AAgroEknor | Growth | — | Dec 2022 |
| Koolboks | Seed | $2.5M | Aug 2022 |
| LLifestores | Series A | $3M | Jan 2022 |
 CrowdForce | Series A | $3.6M | Jan 2022 |
| Koolboks | Seed | — | Jan 2022 |
 Pngme | Series A | $15M | Aug 2021 |
| AAgroEknor | Growth | $2.5M | Jan 2021 |
 Mdaasglobal | Series A | $3M | — |
| MMDaaS Global | Series A | $3M | — |
Top Co-Investors
Last updated: 20 October 2026