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    E3 Capital

    Nairobi, KenyaFounded 2015

    E3 Capital is a Nairobi-based venture capital firm that invests in early-stage African companies enabling a digitised, decentralised, and decarbonised future. It manages the Energy Access Ventures Fund and the E3 Low Carbon Economy Fund I, targeting climate-smart services, digital connectivity, and low-carbon productivity solutions.

    47% of their portfolio is in Climate & Energy. Their most common stage is seed (40% of deals). Average disclosed round size is $12.0M (across 12 rounds with reported amounts).

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    Portfolio

    11

    Fund Size

    $100M

    Top Stage

    Seed

    Last 12 Mo

    0

    Team

    VD

    Vova Dugin

    Managing Partner

    ML

    Melvyn Lubega

    Senior Partner

    UW

    Utari Wanjohi

    Investment Principal

    CM

    Cynthia Mwaura

    Senior Associate

    JW

    Jordan Weya

    Investment Analyst

    FO

    Faith Omwaga

    Team Assistant

    PD

    Parita Dhanani

    Finance & Operations Manager

    PK

    Peter Kivuva

    ESG Officer

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    15 investments
    CompanyRoundAmountDate
    Insight Terra logoInsight TerraSeries A$5.7MJan 2025
    Cutstruct logoCutstructSeed—Jan 2025
    OOpen Access EnergySeed$750KJan 2025
    Yola Fresh logoYola FreshSeed$7MMay 2024
    Yola Fresh logoYola FreshSeries A$7MMay 2024
    HHohm EnergySeed$8MFeb 2024
    Badili Africa logoBadili AfricaSeed$1MJan 2024
    Nuru logoNuruSeries B$40MJan 2023
    Nuru logoNuruSeries A—Jan 2018
    Plentify logoPlentifySeries A$15M—
    KKofaSeries A$8.1M—
    CCavexUnknown$6M—
    GoCab logoGoCabSeed$45M—
    Nuru logoNuruGrowth——
    Nuru logoNuruDebt$500K—

    Top Co-Investors

    Last updated: 20 October 2026